I’ve been buying Admicom and Revenio. Adding shares of former star companies to the portfolio when the sentiment feels like a funeral. Revenio’s forward price/sales a few years out is around 1.4—it used to be over 10 back when the company was the best and invincible. Admicom’s P/S ratio just above 3 isn’t bad in my opinion for a company whose sales are highly predictable due to the nature of the business. Switching costs are quite high in ERP systems, so I consider Admicom’s moat to be strong, as long as the customers just manage to stay afloat.
Additionally, a competitor like Smartcraft has already leaned quite well into a turnaround. And the news regarding the construction sector isn’t completely hopeless anymore either.
