6/5/24 - $smar - sector and factors keep me sidelined here too6/5/24 - vrockstar - NYSE:SMAR - gawd it's so hard to buy 4x ev/sales even w/ high teens growth, inflecting opex leverage when you look at mid 30s PE, high dilution (stock comp issue/ not real cash generator)... and ALL THE COMPS GETTING REKT in this size/domain (biz optimization let's call it). charts just all match each other with slightly different variation - and it's clear who the market is consolidating into, and they typically are growing 30% or more top line all else equal. so guys while there's a px we probably do buy this, and maybe you have a nuanced POV on earnings in this case that i don't - the risk remains probably to the downside in the week/s month/s ahead so i keep a target to consider owning this closer to the $30 or below level.
