PS - Pluralsight: Billings Growth Disappoints But Valuation Tempting
While challenging to remember, Pluralsight (PS) was up over 40% year to date before reporting rather disappointing earnings, largely stemming from significant billings deceleration and a murkier outlook. The stock tumbled in late July after reporting Q2 earnings and remains down ~50% post-earnings.
Pluralsight is a leading provider of cloud-based training software for corporate IT education. Since going public over a year ago, the company has consistently grown revenue at impressive rates and has been well deserving of a double-digit forward revenue multiple. However, after this recent earnings report, the company saw revenue