I don’t think there are many of us following SMRT, but I posted on them a while back and wanted to provide a quick update going into earnings–
Goldman Sachs initiated coverage today with a “buy” rating and $18 price target (50% upside), as well as Ron Baron estimating a current project pipeline of $2B in ARR based on units installed, churn, and committed units. The Baron article is here
And here is my original post if you are looking for more background.
The next earnings or two will be interesting with possible construction / supply chain delays, but once their hardware is installed the SaaS business is sticky (0% churn) and has high margins to offset the loss-leading hardware.
Maybe one to watch.
As I doubt this is a popular one for the majority of readers and I don’t want to fill up the board with posts, feel free to email me directly unless you have something material to add.