The company’s NASDAQ stock price is nearing the all time post IPO low.
And this is a fundamental move afoot, in my opinion.
Many enterprise technology firms fell late this week — after “very cautious” forward-looking first quarter 2016 guidance was issued by Tableau, and then LinkedIn.
The tepid jobs report this morning likely also contributed to Textura’s NASDAQ decline, as the construction industry often sees mirrored business activity — in the jobs numbers. If jobs growth is slowing, so too will be the demand for Textura’s construction payments software as a service (or so the old saw goes) — and maybe doubly so, if cloud level tech firms are softening, as well.
Still, I would not assume we’ve seen anything like a bottom here, at least not until Textura “shows its cards” on the official year end 2015 results call, later in February.
And frankly, I’d predict a new wave of selling then, unless the company soundly beats the Street expectations, at both the top and bottom lines.
You are duly warned, here. Just check that chart (red trend-line) in the masthead (which covers the entire history as a public company), and note that we are now very near the nadir — even post Mr. Allin’s tenure. Yikes. And we are short two important board seats, as well.