Deregulation is often believed to spur economic growth and therefore be business and shareholder friendly. However, there are instances where it is indeed business and shareholder friendly, but not market […]
The Italian populist government is defying the markets at exactly the wrong moment, with growth and ECB bond buying waning. Its proposed budget will increase the already sky-high debt/GDP ratio […]
The promise is already there for patients, but shareholders will gain as well, in our view. Revenues will grow 25-30% this year and margins are improving and the company has […]
Tax cuts are seen by some as the necessary, indeed almost the only instrument for economic growth. A sort of magical formula for all times and circumstances. The resulting deficits […]
While it’s always a little hard to see the forest through the trees, given that the company has so many moving parts, we think the overall picture is still attractive. […]
We see several tech shares off their highs by 20%, 30% or even 40% in short order, seemingly without any deterioration in their business outlook. The likely culprit: algos violently […]
Acquisitions and new modules have expanded the TAM and will keep revenues growing for some time to come. While the company is non-GAAP profitable, there isn’t yet much operational leverage, […]
New Relic is the leader in an industry that is still in the very early innings with lots of growth ahead of it. Coming up with new applications broadens its […]
Revenues are likely to receive multiple positive impulses going forward from here on. So growth is ahead while today we see a maximum impact from higher CapEx and R&D spending. […]
A sell-off to under the IPO price has corrected the valuation problems we argued five months ago. We would still not go all in here, but that has more to […]