Questioning the valuation of a growth stock is a good way to fill up your inbox with hostile emails, but VeriFone (PAY)
is offering up a case study in why valuation always matters. While the
company is still growing, and still has an attractive global market
opportunity, multiple missteps have led to a one-two punch of lower
estimates and substantially lower multiples on those estimates. Although
these shares may finally be resetting to a point where the valuation
makes it appealing, management is going to have a long road back to
reestablishing credibility with the Street.
Please read more here:
VeriFone Now A Falling Knife
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