Spruce Point contends that Enfusion’s “financial restatement risk is high” and that the company could “disappoint investor expectations”, estimating downside risk for the stock at 40%-60%. The firm also cites Enfusion’s “significant executive turnover”, questions its claims of being a “high-growth SaaS provider of financial software”, and sees “difficult” customer growth amid industry consolidation and weak new fund launches.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ENFN: