Geez, I feel like I missed a bunch of boats today. Been watching DHPC and EVSI and thought about buying a big yesterday. CRM I should have bought at the start of June.
Here’s what I call frothy as ####:
PLAN up 29% - Been on my list for a bit. Dumb ### me didn’t see it on earnings calendar. My best purchases this summer have been pre earnings.
Read this if you want to see froth:
https://www.investors.com/news/technology/anaplan-earnings-anaplan-stock-q22020/?src=A00220
I'll summarize. Earnings were less of a loss on revenue better by 3%. Bookings better by 1% and expected bookings for next quarter better by 8%. Stock up 29%.
They had a good earnings report. They did not have a blow the #### out of the water earnings report.
Not that we didn’t know already but there’s some serious craziness. When a stock trends up it gets giddy. Salesforce best revenue estimates for the quarter by $250 million. End result, market cap up $40B. Prorated for the year that’s a price to revenue of 40. Amazon is growing it’s revenue at the same pace and its price to revenue is 5. I’m not saying Amazon is worth more but that these stock price jumps are bordering on ridiculous.