FOUR

Shift 4 reported results yesterday. The headlines proclaimed that the company missed consensus expectations and issued mixed guidance. We own a significant position in Shift4 shares in the high growth portfolio and have recently re-recommended the shares. So, I thought I would devote a bit of analysis to what was reported and why the shares…

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Summary Shift4’s shares have fallen by 21% since no satisfactory takeover bids were received, making them undervalued. The company’s rapid revenue and profitability growth, along with strong free cash flow conversion, make it an attractive investment. Shift4’s differentiation in the payment processing space, particularly with its SkyTab POS system, positions it for continued growth and…

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Sale of 300 shares of Procore (entire position); purchase of 100 shares of Shift4, 200 shares of Sentinel One; 100 shares of GitLab; 100 shares of Affirm; 100 Shares of UiPath We made some portfolio changes in the high growth portfolio today. We decided to eliminate the last of the Procore position, selling 300 shares while adding…

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Zscaler Zscaler reported its results last evening. By most standards the results were everything that most investors look for in a hyper growth company. Revenues, billings, bookings, earnings and free cash flow margin were all beats. The company really only forecasts revenues and EPS on a quarterly basis; it raised its expectations for those metrics.…

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Shift4 reported the results of its Q4-2023 earnings this morning. The headline numbers-and really other KPIs were a miss. Most companies that report misses see their shares eviscerated. That isn’t happening with Shift4. Why? The headline numbers vs. guidance are presented below: ForecastActual% below forecastGross merchandise volume $32-$33 bil. $32.1 bil.2.4%Revenue as reported$750 mil.    $705 mil.  6.4%Revenue less transaction…

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I think most subscribers have seen the spike in many Ticker Target portfolio holdings since the Fed announced its rate decision and its future rate forecast Wednesday afternoon. I realize we have some foreign subscribers who may not be familiar with Fed practices with regards to rates and forecasts. The Fed sets the rate for…

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I think all of us have been disappointed by the trading action in the high growth IT space thus far in August. Consolidations are uncomfortable, and this one is being compounded, I believe by the spike in long rates, whether or not justified. I will take a bit more look at the course of long…

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Ticker Target is not a trading service. Many of these exist and write sensational, perhaps breathless commentary about how their service or picks are going to make subscribers 10X or 5X their investment in a week or a month. I do not do that, never have, never will and find it an unfortunate part of…

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Affirm: Can it satisfy investors in a fraught environment Investing in the fintech space has not been good for the performance of a portfolio during the past 14+ months. Supreme understatement, I suppose. Depending on the definition of fintech, most of the group has imploded. In terms of winners, there has been Shift4 Payments (FOUR) and…

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Shift4 reported its results before the market opened on Thursday. The results were a significant beat in terms of earnings, and a reasonable beat in terms of net revenues as well. The company didn’t change its full year guidance, an excess of so-called prudence on the part of the CFO in my judgement, and highly…

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