I'm adding some WSTG. Surprised it's not up more, especially with the markets ripping higher yet again. That huge Q1 looks like a breakout quarter for them. Q1 revenues up 40%. And the recent acquisition is only going to add to that growth.
Excellent point on those shares they bought from North & Webster. Amounted to 5.8% of shares outstanding. Which will give EPS a nice boost starting in the current Q2. Looks like quarterly earnings of .50+/share will be the new normal. Plus WSTG has a few bucks in cash on the balance sheet. And an attractive dividend yield of nearly 4%.
Kicker here is that not only did WSTG navigate the covid crisis just fine...they actually seemed to benefit!
From yesterday's earnings PR:
“Our first quarter results demonstrate that our momentum from last year has carried into 2020,” said Dale Foster, CEO of Wayside. “In fact, growth levels accelerated in Q1 with double-digit growth in gross profit and a nearly 40% increase in adjusted EBITDA, which reached a new quarterly record. Our end-market demand is high amidst the current stay-at-home and remote work mandates surrounding the COVID-19 pandemic. Even within this environment, the investments we have made to deepen customer relationships, expand our vendor network and bolster sales and marketing continue to drive our strong performance."
So we've got a Nasdaq tech stock cranking out .50 quarters, with 40% top line growth, AND is a covid play. Other techs that are being helped by the stay at home trend are trading at obscene valuations. WSTG could move up to $30, $40, $50, etc...and still be crazy cheap in comparison!
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