We discussed this ASX-listed San Francisco–based, family connection and safety company in detail last week here, when we said “we find the risk/reward unattractive until we see a pick-up in user growth”, we should have said sell, it’s fallen well over 20% since – dramatically improving the risk/reward in the process.
This $8.2bn business is forecast to produce $480mn in FY25 revenue and $629mn in FY26. The stock has been under pressure in November after disappointing user growth figures, which are imperative if the stock is going to follow in the footsteps of Meta (Facebook) and eventually monetise users.
- We like 360 as a business, its new product lines, and the Nativo deal, and believe the risk/reward is now skewed towards buying the stock into current weakness.
- 360 was added to the Hitlist for the Emerging Companies Portfolio yesterday.
MM has turned bullish 360 ~$35
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