Kaushik's avatar
$13.2m follower assets
$TEAM Goldman Sachs Upgrades to Buy PT $300
“We become incrementally more positive on Atlassian as the company reaches a pivotal moment in its cloud transition. When the company announced its target to grow Cloud revenue (~$1.5bn) ~50% yoy in both FY23 and FY24 at its analyst day in April we saw risk to the durability of such goals as we enter a more challenging macro backdrop. After breaking down the assumptions baked into this outlook, we gained confidence from the assumptions’ weight toward FY24 as TEAM can reach these targets with only ~3% yoy growth from migration revenue in FY23, based on our analysis."
Samuel Meciar's avatar
$17.1m follower assets
Portfolio changes - update 16
decided to swap my $TEAM shares for $NOW. $TEAM is a big player in a software tools space, primarily for SW Teams, IT Teams and Business teams. every single of those categories I have an exposure to mostly through players like $MSFT $GOOGL $CRM and will have to some degree through $NOW but a lot more besides that.

this company was going through my mind for a bit, even researched it before and was prepared to buy in but paused it then because I believed there's not much stuff it adds to my overall exposure given that I had multiple companies that had some similar pieces of solutions to ServiceNow. a lot has changed since then, as you can see and now I believe it fits my portfolio well. this weekend and on Monday I finally went deeper again and I'm convinced I found a lot of great things I like to look at, an awesome fit for my aggregated exposure around specific investment themes around which I built my portfolio, their optionality in the space is truly insane and the leadership is nothing short of excellence. it scored very high, placing it at 4th place when ranking the amount of spaces I want to be exposed to, just behind $MSFT $GOOGL and $SNOW.

so I ended up buying $NOW today and also added to my semi allocation $AMD and $NVDA to compensate for the liquidation of my $QCOM position, like I discussed in my other post.
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Samuel Meciar's avatar
$17.1m follower assets
So as I promised, I made some buys today from the proceedings of my sales of $COIN and $COUR I informed you about in my previous post.

I ended up almost doubling my position in $MNDY. Also added to $ADYEN.AS $TWLO $MSFT $NET and $SNOW.

$ADBE remains on my watchlist for adds, I want to add but first let's see their earnings in about a week, particularly looking at their Document Cloud in a context of DocuSign's results, though I have a feeling they won't see much weakness.

Also having $AAPL $PLTR $TEAM $SNOW and $ZS still on my watchlist for future adds.
Samuel Meciar's avatar
$17.1m follower assets
Portfolio changes - update 8
Hey friends, there's a lot of cleaning I'm doing, for real. It's getting tricky, as there's basically no companies I view as weak in my portfolio, now it's reaching a point where I have to consider just how much the position covers what I want it for and whether there's others that can do so instead, so I can consolidate further. I tend to prefer optionality over specialization. So:

  • I sold $ENPH - it's simply hard for me to pass on $TSLA at $700, I also sold $ASML as I see $AMD $NVDA and $QCOM more lucrative when looking at valuation vs revenue and earnings growth. Again, this all is about personal preferences and there's a lot of bias and other nuances of data points somewhere in my head that get me to those decisions.
  • On the other hand, I initiated positions in $SNOW and $ZS, as mentioned previously. I like this pricing.
  • I added to my positions in $ABNB $DDOG $MDB $NET $COIN (although I'm staying cautious there) $TEAM and $TSLA.
When I was studying Solar in 2015-16, I was screaming at the top of my lungs for people to buy Enphase ~$3. All the experts said avoid, while dropping their fancy acronyms and useless info. Meanwhile, our college entrepreneur program was installing Enphase on literally 100% of our residential installs. Was obvious to us they were going to be the leader in the space. Definitely been crazy over valued for a while now, wise to get out.
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Top Losers Today @ 11am
Visit highsandlows.substack.com to see more
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Samuel Meciar's avatar
$17.1m follower assets
Brief news 29/4/22
$AAPL reported earnings, here visualized:

$AFRM Miva, an e-commerce software and service provider for SMBs announced a partnership to help online sellers increase sales and accommodate growing consumer demand.

$ABNB's CEO Brian Chesky sent a letter to his employees, saying they can work remotely forever, as long as they want to.

$AMZN reported earnings, here visualized: (hard hit on EBITDA, though the loss on Rivian is took into consideration in that chart)

$DDOG launched application security monitoring (ASM) to break down silos between security and operations teams.

$DOCU CommBank, an Australian bank, is looking into possibilities of making DocuSign the only way to deliver and sign commercial lending documents after exceeding a 90% adoption target at the end of last year.

$DUOL's viral TikTok account earned it a "Social Marketer of the year" award from Ad Age.

$NET and $MSFT develop a built-in VPN for Microsoft Edge - powered by Cloudflare.

$NFLX reportedly laying off seasoned journalists and writers working for its entertainment site Tudum. Netflix also seen cancelling new seasons of some shows that likely didn't do too well.

$NVDA GeForce Now app added a native support for Apple M1 Macs, Lost Ark into its game offering.

$PYPL reportedly closing its San Francisco office which is housing its Xoom business unit.

$ROKU reported earnings, here visualized:

$SPOT declines to renew Obama's podcast contract, Obama reportledly in talks with Audible, iHeartMedia for the deal.

$SE up on the news of Sea Group winning a digital bank license in Malaysia.

$TEAM reported earnings, here visualized:

$TTD Advertisers and Agencies, including Omnicom, to activate audience-based campaigns directly from InfoSum data clean rooms using first-party data via Unified ID 2.0
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Samuel Meciar's avatar
$17.1m follower assets
Brief news 28/4/22
$AAPL under regulatory pressures introduced Self Service Repair Store, available in the US and should expand outside US, starting in Europe later this year.

$ABNB reached 2 billion searches in their "I'm flexible" search, which was designed to serve people who are primarily passionate travelers with hybrid/remote work. The "I'm flexible" offering was introduced in May 2021.

$COUR announced earnings, here visualized:

$CRM announced new innovations in Salesforce Flow, a suite of automation technologies, with ability to help customers quickly automate any complex business process on the Salesforce Customer 360 Platform.

$ENPH announced earnings, here visualized:

they also announced an expansion of battery storage in Michigan.

$GOOGL announced earnings, here visualized:

$MSFT announced earnings, here visualized:

$PATH appointed Robert Enslin as a Co-CEO of the company. Robert previously worked as a former executive for $GOOGL Cloud and has about 30 years of enterprise software experience.

$PINS reported earnings, here visualized:

$PYPL reported earnings, here visualized:

$QCOM reported earnings, here visualized:

$SPOT reported earnings, here visualized:

$SQ announced a launch of Square Loans for Canadian Businesses, giving SMBs a simple access to funds and eliminating another major pain point associated with running a business.

$TWLO welcomes 2 new executives, Reeny Sondhi as a First Chief Digital Officer and Amy Holcroft as First Chief Privacy Officer. Both of those roles are new to Twilio. Reeny previously worked as Chief Security Officer at Autodesk. Amy previously worked at HP where she was a privacy leader for 13 years.

Woah, that was a lot of results haha. Looking for $ROKU $TEAM $AMZN and $AAPL today.
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What are your thoughts on $COUR' generally? I think it's really promising to see that their-

  • Total revenue was $120.4 million, up 36% from $88.4 million a year ago.
  • Gross profit was $77.6 million or 64.5% of revenue, up 57% from $49.5 million a year ago. Non-GAAP gross profit was $78.2 million or 64.9% of revenue, up 58% from $49.6 million a year ago.
  • Adjusted EBITDA was $(11.0) million or (9.1)% of revenue, compared to $(10.1) million or (11.5)% of revenue a year ago.
  • Net cash used in operating activities was $(38.3) million, compared to $(4.3) million a year ago. Free cash flow was $(42.2) million, compared to $(8.6) million a year ago.
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$TEAM Earnings: What I'm Looking For
$TEAM reports this afternoon. I don't have many concerns about Atlassian and they're not too far from becoming a core holding that I don't feel the need to track quarter-by-quarter. I'm currently down ~30%, having most recently added shares in February at $298.04.

Here's what I'll be looking for this afternoon:

  • Revenue has exceeded management midpoint guidance by 5-18% each of the past 6 quarters. For this Q3, management guided for $697.5MM at the midpoint. $767.25MM in revenue (10% above midpoint) would tickle my fancy.
  • Gross profit margins >83%.
  • Keep printing FCF.
  • Subscription revenue growth >55%, although this may be an unrealistic ask.
  • Total customer count >260,000 (~15% growth over Q2).

I'd love for Atlassian to finish out their FY22 strong so I can delete their tab from my spreadsheet, stop reading the 10-Qs and go to only the 8-Ks, and have one less company I follow diligently. They're definitely trending that way.
Is Monday.com ($MNDY) truly pioneering a new style of software?
That's what management claims. This company has nearly doubled revenue each of the last two years, suggesting that this software is more than just a niche fad. They have differentiated themselves from competitors by providing an open WorkOS platform composed of building blocks, allowing customers to create their own customized workflows.

$MNDY currently holds a full 5% position in the growth account, but $ASAN and $TEAM both provided a high degree of competition for a spot in the portfolio. For fellow investors who have done their fair share of research in the work management space, how do you feel about the competition between these three companies?

In this article, I discuss my reasoning for owning the stock as well as some risks that could derail this growth story. As always, all content is free and I encourage readers to share their opinion on all stocks discussed.

all $ASAN $MNDY $TEAM have great products both feature-wise and when looking at reviews, though I recently found a combination of $MNDY and $TEAM fitting the best for me as the overlap isn't too huge but still covers a lot of optionality than let's say a combination of $ASAN and $MNDY.
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