Consumer Discretionary
Gordon Haskett Research Advisors
Wrongfully tossed into the bad SPAC bucket - poised to benefit from rising pet ownership and rapidly rebounding travel demand. Furthermore, ROVR’s meaningful valuation discount relative to marketplace peers is increasingly unjustifiable with 1) fundamentals that are largely in line with / if not better than peers and 2) numerous potential top-line upward revision catalysts ahead (adjacent verticals such as pet health, expanding partnerships with retailers, etc). Trades at 2.5x EV/Sales (4.4x peer avg.) and 12x EV/EBITDA (30x for peers).
Edition: 130
- 04 March, 2022