Where is it going?14 Nov 2018 09:40
Hard to know where the SP is going....would have expected it to have risen by now. Some tech stocks are doing well. If it wasn't for the big drop on the NASDQ the other day, I suggest the SP would not have been hammered yesterday...but it was, so not much anyone can do about that!
The issue with Sophos is that they miss their previous forward guidance each time they issue results and the stock rightly gets a hammering on results day. It's dropped over 50% from year high.
Can't see where the trigger for an increased SP is going to come from as the markets are all over the place right now. Looks like Sophos will stay in the doldrums until the market turns around, which may or may not happen.
The forward P/E multiple is very high compared to other tech stocks and this doesn't help.
Can't see it dropping any further as it appears that the technical bottom has been reached now.