I am not questioning your buys, but would love to learn why you rate them as possible buys.
They are suggestions and one has to make a determination what fits for them. I have some puts sold on those names at even further lower price and don’t own them.
Now SPOT, 2xsales, they can grow 15% for the next 7 to 10 years. I know company has guided higher. Forget everything, if they can bring down SGA by 4% to 5% of revenue, that falls into profit. They can do easily 5% to 7% net profit on revenue and they can get to 10% as outside chance.
Another way of looking at is, revenue per user and track the user growth and see where they are with the total addressable market or users, and of course upside on the advertising.
Do you think the price is reflecting all of that, may be, may be not. You have to factor multiple scenarios playing out and assigning some percentage to see the range of EPS and price. Now, you need margin of safety, a price where most scenarios you make money and on worst case scenario you could get out with minimal loss.
That’s where buying at right price matters. Look at my Citibank notes, I am not expecting Citi to suddenly become super profitable, but perform better than the pessimism baked into the price. They are almost 50% of Tangible Book value, if they can show life, continue to fog the mirror, they can get to 1x BV. On the other hand some of these names has to perform and slightly exceed the expectation baked in.
Lastly, the reason you are constantly looking at all these companies is not to buy NOW, but you develop understanding and a mental model when you can, and when the panic arrives or price declines you are better prepared and not discouraged by the price decline. Also, you are not buying them with an expectation they are going to have a V shape recovery to their 2021 high’s, rather you buy for multiple years of growth.