Panmure Gordon on Net Dimensions “positive close to the year”

Panmure Gordon Analyst George O’Connor has said today about Net Dimensions LON:NETD “A positive close to the year sees NetDimensions end the FY in line, with a beat on LBITDA forecasts. Very few companies regularly competitively beat software globals like CornerstoneOnDemand, Saba and SAP/Successfactors at the customer pitch – NetDimensions does. We believe that the rush of positive news from NetDimensions over the past two years is likely due to its laser focus on high-consequence target customers, its strong product, engineering culture and an increasingly favourable adoption backdrop for SaaS-based HCM and Talent Management solutions. Understanding this explains why NetDimensions was able to conclude a placing on 5 November last as investors appreciated the progress with its internal realignment and the reignition of the company has been a success in its early stages and is visibly gathering pace. There is a huge valuation gap with nearest peer – CornerstoneOnDemand EV/Sales 5.5x vs NetDimensions 1.2x”

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