The outlook for the Internet-Software & Services industry appears negative going by the estimate revision trend over the past year, driven largely by the pandemic. Some companies were however positively impacted by the pandemic and the rush-to-digitize trend that it gave rise to. The diversity of players in this group is the reason for this dissonance.
Being the backbone of the digital economy, it’s hard to see this industry doing badly over the long term. However, the near-term outlook could have been better. To make matters worse, valuations are going through the roof. Under the circumstances, Criteo (CRTO) and Donnelley Financial Solutions (DFIN) are the only ones warranting a closer look.
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