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Why is the share price of PeopleIN (PPE) in a downtrend?

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    Why is the share price of PeopleIN (PPE) in a downtrend?

    Thanks James and Team for your ongoing commentary at both a macro and micro level, I like your overall offering , particularly the research provided on individual stocks and your views on possible price entry levels ( not generally provided from other sources ) , My question relates to the falling share price of PPE . Despite strong fundamentals , including high ROE , and a low forward PER , the share price continues to consistently fall Your views on this will be most appreciated . Should I continue to hold this stock ? , General advice only . Thanks . David

    Answer

    Hi David,

    Another new stock to the MM report, for those subscribers not familiar with the business PeopleIN Limited is a $220m  QLD-based workforce management and staffing services company. This is not a business we are familiar with, but I would imagine they are struggling with the current extremely low unemployment rate i.e. there’s no pool of labour for them to supply to employers.

    While the financials do look solid and analysts generally like the stock, with 6 buys and a consensus price target of $3.80, the fact the stock has more than halved since mid-2021 making fresh multi-month lows this week tells us something is a miss, but can’t really add a lot more value to that seeing as we have not followed their history unfortunately David.

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    PeopleIN Ltd (PPE)
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