ADP
Deep Undervalued
AUTOMATIC DATA PROCESSING INC
Price$242.27
Model IV$373.08
P/IV0.59
Discount 35%
Return to IV: +54.0%
Market implies +2.9%/yr
vs model +10.5% · below model
AIAI
Valuation N/A
AIAI Holdings Corp
Price$14.15
Model IV—
P/IV—
Limited data — see page
ALIS
Valuation N/A
Calisa Acquisition Corp
Price$10.18
Model IV—
P/IV—
Limited data — see page
ALISR
Valuation N/A
Calisa Acquisition Corp
Price$0.76
Model IV—
P/IV—
Limited data — see page
ALISU
Valuation N/A
Calisa Acquisition Corp
Price$10.80
Model IV—
P/IV—
Limited data — see page
APLD
Valuation N/A
Applied Digital Corp.
Price$33.06
Model IV—
P/IV—
Market implies +72.3%/yr
vs model +15.0% · above model
ATHM
Deep Overvalued
Autohome Inc.
Price$18.18
Model IV$4.00
P/IV4.37
Premium +355%
Return to IV: -78.0%
Market implies +19.7%/yr
vs model +2.0% · above model
AUUD
Valuation N/A
AUDDIA INC.
Price$1.40
Model IV—
P/IV—
Limited data — see page
BILI
Valuation N/A
Bilibili Inc.
Price$17.14
Model IV—
P/IV—
Limited data — see page
BRAI
Valuation N/A
Braiin Ltd
Price$6.03
Model IV—
P/IV—
Limited data — see page
BRUN
Valuation N/A
Boost Run Inc.
Price$31.76
Model IV—
P/IV—
Limited data — see page
BRUNW
Valuation N/A
Boost Run Inc.
Price$20.08
Model IV—
P/IV—
Limited data — see page
CARG
Undervalued
CarGurus, Inc.
Price$36.24
Model IV$45.71
P/IV0.65
Discount 21%
Return to IV: +26.1%
Market implies +2.5%/yr
vs model +6.8% · below model
CARS
Deep Undervalued
Cars.com Inc.
Price$11.32
Model IV$28.25
P/IV0.36
Discount 60%
Return to IV: +149.6%
Market implies -6.9%/yr
vs model +9.2% · below model
CAST
Valuation N/A
FreeCast, Inc.
Price$4.34
Model IV—
P/IV—
Limited data — see page
CHR
Valuation N/A
Cheer Holding, Inc.
Price$1.98
Model IV—
P/IV—
Market implies -50.0%/yr
vs model +7.1% · below model
CLVT
Deep Undervalued
CLARIVATE PLC
Price$2.59
Model IV$4.28
P/IV0.59
Discount 39%
Return to IV: +65.2%
Market implies -2.5%/yr
vs model +8.5% · below model
CTW
Deep Undervalued
CTW Cayman
Price$2.66
Model IV$6.38
P/IV0.39
Discount 58%
Return to IV: +140.4%
Market implies -19.4%/yr
vs model +19.8% · below model
DDI
Deep Undervalued
DoubleDown Interactive Co., Ltd.
Price$11.49
Model IV$172.63
P/IV0.07
Discount 93%
Return to IV: +1,402.4%
Market implies -50.0%/yr
vs model -1.9% · below model
DGNX
Valuation N/A
Diginex Ltd
Price$1.15
Model IV—
P/IV—
Limited data — see page
DTCX
Fairly Valued
Datacentrex, Inc.
Price$1.70
Model IV$1.98
P/IV1.17
Discount 14%
Return to IV: +16.5%
Market implies -1.2%/yr
vs model +50.0% · below model
DTST
Valuation N/A
Data Storage Corp
Price$3.38
Model IV—
P/IV—
Market implies +34.6%/yr
vs model +2.0% · above model
DXC
Deep Undervalued
DXC Technology Co
Price$9.91
Model IV$68.35
P/IV0.15
Discount 86%
Return to IV: +589.7%
Market implies -31.3%/yr
vs model +3.3% · below model
EGHT
Undervalued
8X8 INC /DE/
Price$1.83
Model IV$2.25
P/IV0.92
Discount 19%
Return to IV: +23.1%
Market implies +0.0%/yr
vs model +6.1% · below model
EVTC
Deep Undervalued
EVERTEC, Inc.
Price$29.63
Model IV$80.16
P/IV0.31
Discount 63%
Return to IV: +170.5%
Market implies -2.5%/yr
vs model +15.1% · below model
FA
Deep Undervalued
FIRST ADVANTAGE CORP
Price$20.53
Model IV$32.65
P/IV0.49
Discount 37%
Return to IV: +59.0%
Market implies +8.2%/yr
vs model +19.0% · below model
FIVN
Deep Overvalued
Five9, Inc.
Price$23.44
Model IV$11.49
P/IV2.12
Premium +104%
Return to IV: -51.0%
Market implies +21.5%/yr
vs model +15.6% · above model
GDRX
Overvalued
GoodRx Holdings, Inc.
Price$3.05
Model IV$2.44
P/IV1.20
Premium +25%
Return to IV: -20.1%
Market implies +9.0%/yr
vs model +8.2% · in line
GLE
Deep Overvalued
Global Engine Group Holding Ltd
Price$0.43
Model IV$0.23
P/IV1.94
Premium +91%
Return to IV: -47.7%
Market implies +5.1%/yr
vs model +15.0% · below model
GLOB
Valuation N/A
Globant S.A.
Price$32.51
Model IV—
P/IV—
Limited data — see page
GLOO
Deep Undervalued
Gloo Holdings, Inc.
Price$4.44
Model IV$41.83
P/IV0.13
Discount 89%
Return to IV: +842.1%
Market implies -46.7%/yr
vs model +50.0% · below model
GMHS
Deep Overvalued
Gamehaus Holdings Inc.
Price$0.97
Model IV$0.37
P/IV2.71
Premium +165%
Return to IV: -62.2%
Market implies +4.7%/yr
vs model -3.8% · above model
GRVY
Valuation N/A
GRAVITY Co., Ltd.
Price$65.58
Model IV—
P/IV—
Market implies +18.0%/yr
vs model +2.0% · above model
HAWK
Valuation N/A
HawkEye 360, Inc.
Price$21.14
Model IV—
P/IV—
Limited data — see page
HNGE
Deep Overvalued
Hinge Health, Inc.
Price$84.05
Model IV$61.07
P/IV0.92
Premium +38%
Return to IV: -27.3%
Market implies +5.8%/yr
vs model +41.7% · below model
HTCR
Valuation N/A
HeartCore Enterprises, Inc.
Price$3.06
Model IV—
P/IV—
Market implies +51.8%/yr
vs model +2.0% · above model
IBEX
Overvalued
IBEX Ltd
Price$32.13
Model IV$27.39
P/IV1.16
Premium +17%
Return to IV: -14.8%
Market implies +10.4%/yr
vs model +11.6% · in line
INFQ
Valuation N/A
Infleqtion, Inc.
Price$12.31
Model IV—
P/IV—
Limited data — see page
INOD
Deep Overvalued
INNODATA INC
Price$68.88
Model IV$30.22
P/IV3.47
Premium +128%
Return to IV: -56.1%
Market implies +19.7%/yr
vs model +37.8% · below model
JOYY
Valuation N/A
JOYY Inc.
Price$67.26
Model IV—
P/IV—
Market implies +47.6%/yr
vs model +7.0% · above model
LIF
Deep Overvalued
Life360, Inc.
Price$57.71
Model IV$32.87
P/IV1.29
Premium +76%
Return to IV: -43.0%
Market implies +14.1%/yr
vs model +44.4% · below model
LZ
Deep Overvalued
LEGALZOOM.COM, INC.
Price$6.92
Model IV$3.09
P/IV2.04
Premium +124%
Return to IV: -55.4%
Market implies +17.3%/yr
vs model +8.6% · above model
MOVE
Valuation N/A
Corvex, Inc.
Price$17.37
Model IV—
P/IV—
Market implies +66.7%/yr
vs model +15.0% · above model
NRDS
Deep Undervalued
NERDWALLET, INC.
Price$9.47
Model IV$36.85
P/IV0.23
Discount 74%
Return to IV: +289.1%
Market implies -5.7%/yr
vs model +18.9% · below model
NXTT
Deep Undervalued
Next Technology Holding Inc.
Price$1.30
Model IV$7.49
P/IV0.19
Discount 83%
Return to IV: +476.0%
Market implies -37.5%/yr
vs model +2.0% · below model
ONFO
Deep Undervalued
Onfolio Holdings, Inc
Price$0.38
Model IV$11.30
P/IV0.06
Discount 97%
Return to IV: +2,850.3%
Market implies -50.0%/yr
vs model +50.0% · below model
ONFOW
Deep Undervalued
Onfolio Holdings, Inc
Price$0.01
Model IV$13.88
P/IV0.00
Discount 100%
Return to IV: +110,940.0%
Market implies -50.0%/yr
vs model +50.0% · below model
OOMA
Deep Overvalued
OOMA INC
Price$19.49
Model IV$4.96
P/IV3.56
Premium +293%
Return to IV: -74.6%
Market implies +25.8%/yr
vs model +10.1% · above model
PAGS
Valuation N/A
PagSeguro Digital Ltd.
Price$9.12
Model IV—
P/IV—
Limited data — see page
PAVS
Valuation N/A
Paranovus Entertainment Technology Ltd.
Price$7.02
Model IV—
P/IV—
Market implies +150.0%/yr
vs model +2.0% · above model
PEGA
Fairly Valued
PEGASYSTEMS INC
Price$31.05
Model IV$35.64
P/IV1.00
Discount 13%
Return to IV: +14.8%
Market implies +6.7%/yr
vs model +10.3% · below model
PHUN
Valuation N/A
Phunware, Inc.
Price$2.04
Model IV—
P/IV—
Market implies +76.8%/yr
vs model +2.0% · above model
PLTK
Deep Undervalued
Playtika Holding Corp.
Price$3.87
Model IV$16.61
P/IV0.23
Discount 77%
Return to IV: +329.2%
Market implies -18.0%/yr
vs model +7.0% · below model
QBTS
Valuation N/A
D-Wave Quantum Inc.
Price$22.53
Model IV—
P/IV—
Market implies +84.7%/yr
vs model +40.7% · above model
RAMP
Fairly Valued
LiveRamp Holdings, Inc.
Price$37.73
Model IV$33.97
P/IV1.11
Premium +11%
Return to IV: -10.0%
Market implies +11.4%/yr
vs model +12.7% · in line
RDDT
Deep Overvalued
Reddit, Inc.
Price$194.67
Model IV$51.24
P/IV3.44
Premium +280%
Return to IV: -73.7%
Market implies +39.0%/yr
vs model +25.0% · above model
RNG
Deep Overvalued
RingCentral, Inc.
Price$40.01
Model IV$24.97
P/IV1.73
Premium +60%
Return to IV: -37.6%
Market implies +16.3%/yr
vs model +12.0% · above model
SHAZ
Valuation N/A
SharonAI Holdings Inc.
Price$67.91
Model IV—
P/IV—
Market implies +85.5%/yr
vs model +50.0% · above model
SJ
Deep Undervalued
Scienjoy Holding Corp
Price$0.87
Model IV$1.66
P/IV0.71
Discount 48%
Return to IV: +91.1%
Market implies -18.0%/yr
vs model -2.9% · below model
SKLZ
Deep Overvalued
Skillz Inc.
Price$9.52
Model IV$2.90
P/IV3.23
Premium +228%
Return to IV: -69.6%
Market implies +18.5%/yr
vs model +2.0% · above model