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Monday, December 16, 2019 11:56:59 AM
By: MarketWatch | December 16, 2019
Key will be stable earnings growth amid a shakeout in the industry
* * *
Conclusion
Cloud software has enjoyed neck-breaking sales growth and valuations to match. On average, S&P 500 Index SPX, +0.85% member companies, excluding energy, are reporting an aggregate of 5.2% revenue growth in the current quarter. Many cloud-software companies are reporting 10 to 20 times that.
Despite such fast growth, investors are leery of companies with neck-breaking revenue growth, such as Okta OKTA, +0.43%, Yext and CrowdStrike. Instead, we see ample evidence that positive EPS with at least 10% forward growth is attractive to investors. And there’s no reason to believe that trend won’t spill into next year.
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