RDY offers people management software for educators, employers and facilitators across Australia and following its 30% correction we like this smaller $331m Sydney based tech business, its estimated valuation of 28.3x for 2022 is not challenging in our opinion and we think the risk / reward is excellent, a definite candidate for our Emerging Companies Portfolio. Sentiment has been mixed this month towards RDY after it failed to secure a recent government licensing project but the $8m earn out this would have delivered we believe definitely doesn’t justify the stocks fall, especially as RDY hadn’t included the tender in its FY22 guidance numbers.
MM likes RDY around $3
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