Sectors: Software
What do you think of PLTR (NASDAQ)? I know it’s had quite a run but it seems like a company with great potential.
Also are there any other international buy recommendations from MM?
Hi James, Shawn and Team.
XRO +4.71%: An in-line result from the accountancy platform with revenue in line and earnings a slight beat.
Good afternoon MM team,
I’ve just resubscribed again and do enjoy your excellent commentary and answers to my questions. I’m wondering how you see the outlook for Fineos FCL. They hit a 52 week high today (Monday) of $2.60 after a 52 week low of $1.22 – What do you think is driving this considerable change of fortunes and is it likely to continue?
Thanks and regards,
Rob
Last week, market favourite CBA made fresh all-time highs, and other high-flying/high-value stocks that dragged the market higher through 2024 are all looking fairly similar, from JB Hi-Fi (JBH) to Xero (XRO) and Pro Medicus (PME).
Meta Platforms Inc. posted first quarter sales that beat expectations in a sign that the company’s advertising business is so far weathering the Trump administration’s ongoing trade war.
After the market closed this morning, MSFT reported better-than-expected sales and profit, suggesting customer demand hasn’t been rattled by tariffs and wider economic uncertainty – shares were trading ~6% higher in extended trading in New York this morning.
Microsoft is a core holding in our international equity’s strategy, held since 2020, and we continue to believe this well diversified, relatively conservative play on technology represents exceptional value into this recent decline.
We have held XRO since 2020, and the position has served us well, with a few dips along the way, as is to be expected from high-valuation growth stocks. The online accounting business has impressed us over the last year with how it has blended growth with improving earnings.
XRO is another quality business that was trading at a high valuation in February, but this has been addressed by a run for the exits across the crowded growth space, especially among momentum traders when the music stopped playing, i.e. at its worst, the ASX200 had corrected 10.2% whereas XRO fell by almost 19%.
