Stem Inc
Stem Inc (NYSE: STEM) is an artificial intelligence (AI) entity that provides smart battery storage solutions and serves Fortune 500 corporate energy users, power producers, and project developers.
Investment Rationale – SPECULATIVE BUY at USD 19.69
Risk Assessments
Recent News
Pricing of Senior Notes: On 17 November 2021, Stem announced the pricing of US$400 million aggregate principal amount of 0.50% Green Convertible Senior Notes due 2028.
Q3 FY21 Financial Highlights (for the third quarter ended 30 September 2021, as on 9 November 2021)
(Source: Company Website)
One Year Share Price Chart
(Data Source: Refinitiv, Analysis by Kalkine Group)
Valuation Methodology: EV/Sales Approach (FY21) (Illustrative)
Conclusion
STEM delivered a record 12-month pipeline of US$2.4 billion at the end of Q3 FY21, as there was a 183% year-on-year growth in the bookings. The customers are increasingly demanding smart energy solutions enabled by Athena®, which holds significant growth potential for the Company. STEM has a rapidly expanding market, differentiated offerings, and a strong balance sheet to sustain the growth momentum. The stock price made a 52-week High and Low of USD 51.49 and USD 14.25, respectively.
Based on the revenue growth, diversified portfolio, undervalued valuation multiples, favourable technical indicators, supported by the valuation conducted above, we have given a “SPECULATIVE BUY” recommendation on Stem Inc at the closing market price of around USD 19.69 (as on 8 December 2021), with lower double-digit upside potential based on 21.93x EV/NTM Sales (approx.) on FY21E sales (approx.).
BlackSky Technology Inc
BlackSky Technology Inc (NYSE: BKSY) is engaged in providing real-time geospatial intelligence.
Investment Highlights – Watch at USD 8.77
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