Technology
A cloudy outlook - Neeraj Monga presented his short thesis on this cloud service provider at our recent Equity Shorting Conference
(click here for audio and slides). Neeraj posits that CDAY’s aggressive and creative accounting, nosebleed valuation and uncertain prospects in Asia Pacific portend a steep decline in its stock price. He estimates downside of more than 50% to below $20 per share.
Edition: 138
- 24 June, 2022
Ceridian (CDAY)
Technology
Underappreciated opportunity - CDAY’s Dayforce Wallet is the company’s first foray into a very different segment of the fintech ecosystem: digital wallets and earned wage access solutions. In this industry primer, Veritas assess the competitive landscape and compare CDAY's offering to products launched by Apple, Alphabet, PayPal, Square, Mastercard, Visa, Tencent and Alibaba. Veritas think the long-term gains of developing a fintech ecosystem are incredibly attractive and CDAY’s unique distribution advantage will help carve itself a piece of the market. Estimates that the module can generate ~US$220m of annual net earnings and be worth US$19 per share.
Edition: 114
- 09 July, 2021