Net Stocks Gain A Little Back From Rate Fears

Volatile is as volatile does, to borrow a line from the classic film Forrest Gump. On the plus side of swings today’s ISDEX jumps 2.6% to 579 while the Dow get s slight haircut and the NASDAQ pops slightly as rate rising fears ease somewhat. The snapshot:

  • (NASDAQ:BYND) pops on no news but what I think could be a growing desire for larger commerce players to want to own an electronic-software delivery superstore. On valuation BYND looks like 10x annualized but what I forecast as 6x forward revenues with 2.1 million customers probably growing to perhaps 3 million to as high as 4 million by year end if growth rate continues at first-quarter rates.
  • Security First (NASDAQ:SONE) decides to leap into the big leagues with a $1 billion buy of Europe’s FICS, which makes software for banks. On the heels of that deal the Web bank software maker decides to snap up Edify for $17.87 per share or $345 million. Pro forma SONE will have a third of the world’s leading 100 financial institutions using its service.

    Relatedly, finance software maker Intuit likes what it sees and invests $50 million, or $51.50 per share, for 2.5% of SONE. Deal swirl which makes sense in this unabridged sector. At $637 million market cap for SONE I don’t know why Intuit stopped at 2.5%. To me Security First has taken a big step and raised its profile and leverage.

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