Are you interested in LOGM? If you are LONG, come and review the dark side with us. If you are SHORT, come and see our vision of the Short case, positive and negative estimate changes that we think will come out of the analyst day, and our frank discussion for why we think weakness will be bought.
Have you ever been bullish on a stock, but to get there you had to really understand the short case? Hopefully, that is a common phenomenon. But this time it wasn’t enough for us to dig. We had to go deep. What do we see?
ELEMENTS OF OUR CONCLUSION
- Greater need for M&A to fill in forward revenue growth promises than advertised
- Inconsistent KPI
- Even the most challenged secular part has resilient and stubbornly growing revenue (thus far) from high price increases & high churn segments
- A canvas of opportunity that will keep the needle moving
- Downside risks on topline estimates, upside risks on FCF
- Low-msd% topline growth sustaining through 2019
- Trading sub-20x FCF
- OCF margins moving higher
- 10% of the stock getting returned to shareholders in next 18-24 months
- A management team with a good track record for making it all work plus a balance sheet that is open for M&A to accelerate transition to a more traditional enterprise software business model
Webcast and dial-in details below:
Event: CLICK HERE
Dial-in Details
- Toll Free:
- Toll:
- UK: 0
- Confirmation Number: 13674589
