I saw on their linkedin the other day that they're still hiring...

I saw on their linkedin the other day that they're still hiring and 'busier than ever with the growing demand for online services'. Ultimately they rely on mostly essential service industries, even though Mcd's has been shut in NZ and the UK it's been open in most locations albeit at reduced sales. I'd say with their foray into supermarkets with Super Indo they're well placed to capitalise. Other major customers being 7/11 Aus, White Castle, Ikea and loyalty NZ. You'd think most of this would be lower than usual.

However, perhaps Mcd's are focusing even more efforts on customer engagement to ensure they stay in consumer's minds. I doubt they'd be hiring a number of roles and state they're 'busier than ever' if things were going poorly.

Ever since Md's bought in the one-customer risk reduced in my eyes. If we can get a swift roll out in the supermarket industry that should diversify things more. They're targeting 500m users and currently are at 171m, so clearly only early stages in their growth journey. They hired around 5 sales/mktg people in the US at the end of last year, so hopefully progress is being made in that market.

Overall I personally think PLX are the most undervalued tech stock on the NZX. 100m market cap, 25m in sales and roughly estimated 4.5m EBITDA. Estimated EPS of 1.7c, giving them a PE of 40 based off 68c share price. 40 might seems high, but they did increase their headcount significantly in FY20, which should somewhat flatten out in FY21.

Unlike most tech stocks they're making a profit and have positive operating cash-flow yet only have a market cap of 100m.

SKO is around 260m, yet aren't going to be profitable for many years and their industry is going to be decimated. People go on about 6000+ customers.... so what? They make the same amount of revenue as PLX from a bunch of tiny customers? Expensive to service. Also, what's the first expense a business cuts in a downturn? Additionally, corporate travel is going to be impacted by the virus for at least 12 months. Video technology does the trick.

PLX however are in a growth industry which is forecast to increase massively over the next 5 years. People don't understand what PLX does. Yes it's a competitive industry, but they have more strings to their bow than quite a few other companies in this space. For example i've seen a few companies with a backend solution, but don't offer mobile order and pay and integration to payment systems. Look at PLX as a data-gathering company used to devise personalised marketing campaigns.

Unfortunately it's too small apparently for NZ funds to get in, a part from the one that is, who are bullish on them. Rest of the shareholders are insiders, including Mcd's, private capital and retail. In my opinion PLX will be 're-rated' one day to reflects its true value.