This Software Developer Could Gain 40%

A cheap valuation and solid growth can't go unnoticed forever

Highlights:

• Shares in this software and payments company have gone nowhere since a 2018 IPO — but that should change.

• A steady and successful acquisition strategy has increased the percentage of revenue from software, yet the market is still valuing the stock as a lower-multiple payments play.

• A closer look at multi-year performance shows acceleration in revenue and attractive valuations in M&A.

• 40% upside seems achievable with further growth in 2024 amid reasonable multiple expansion.