I hold while I still have gain and my stop loss isn't hit. Might happen in 1 month, might happen in 7 years.
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Small growth in customer numbers supports the theory that the low hanging fruit has already been picked.
Fang stocks that can't show an ongoing runway of high growth have been getting smashed in the U.S.
Disc: Don't own.
from last week’s announcement: “We continue to experience quarter over quarter growth in our field sales initiative and deal sizes continue to increase, validating the assumption that face-to-face interaction allows us to better communicate the value of our solutions to support a higher price point.”
Yes, buy in gloom, sell in boom.
PPH changed their sales strategy last year to focus on medium and large sized customers. So growth in customer numbers will be less. They added one more of the top 20 churches in June quarter - now 14 out of 20.
16 November 2017 Interim Results Investor Briefing Presentation -
"Sales strategy
Pushpay continues to refine its relational approach to a targeted account based and field sales strategy, focusing more heavily on medium and large sized Customers. We have found that larger Customers: invest more in implementation and are therefore more likely to implement correctly and successfully, leading to greater adoption of Pushpay's offerings; are easier to service long term; are less likely to churn than smaller Customers; and typically generate increased Subscription and Volume Fees over time."
Ouch - SP dropped below the MA 200. I guess some investors might still wait for a confirmation of the downtrend (give it another couple of days), but signs are hard to ignore.
At the end of the day - everybody's individual choice ... and sure - trends can change anytime. It is just - they normally need a trigger to do that (change back to uptrend) - and the fundamentals don't really justify the current lofty share price.
Hype can push a SP really strong upwards - but the effect works in both directions ... ;);
Take care out there - its a dangerous world.