Stock price when the opinion was issued
Has shown some of the most durable revenue growth in the entire market. Though more expensive, definitely likes it more than CRM. Deserves the valuation premium because it executes so well. Good long-term hold. Over time, need to see traction around AI for the story to continue working. Great company.
Dangerous name to be out of. Huge run, strong Q1. Reinforced leadership in enterprise AI. Guidance is in line. Concern about government cuts, but overall average deal size up by 1/3. 18% growth, but trading at 40x 2026 and 33x 2027. A bit expensive PEG ratio. Have to pay up for good names, but wait for better entry when PEG closer to 1.