TH,
Your caution is perfectly understandable given the lousy recent price action (prior to today). As is the case with so many of these Net stocks, CNQR moves on buzz -- and, let's face it, right now there ain't any buzz around this stock.
Nonetheless, my personal feeling is that this can change in a heartbeat. IMO, CNQR has the potential to make a huge run if it just announces one substantial procurement customer. Think about it: CNQR could do a 10-bagger from today's open and still be valued at only 30-35 percent of CMRC and ARBA! CNQR is already highly regarded for its products, but it needs to break through with a high-profile procurement customer in order to be seen as a serious B2B player.
Ideally, CNQR will win a big procurement customer by converting one of its current expense-management customers. If CNQR shows that it can indeed bring its current customers into the B2B fold, then the fact that CNQR has 270+ corporate customers with 2.1 million desktops will really mean something. Until then, the client list is impressive, but not "on message" in this B2B-crazed investment universe.
Just to review, here's the client list:
concur.com
Regarding this quarter's earnings, I'm not particularly worried about hitting the numbers -- but this is because CNQR's analysts lowered estimates by so much after last quarter's miss. I assume the current numbers are so low that they're virtually unmissable. (I hope!) I'd be worried that CNQR failed to announce more new customers this quarter, though, if the numbers hadn't been reduced so much.
(Wow! What just happened to CNQR? It was sitting at about 26-27 when I started this message. Now 31? I've got to scan for news.) |
