'The beauty of our industry is that it's very resilient and what we sell is mission critical,' said CEO Hardeep Gulati, in an interview with CNBC on Thursday.
After outperforming other edtech stocks last year, shares of industry leader PowerSchool are off to a weak start in 2023, and several analysts see that as an opportunity. PowerSchool shares closed down about 2.1% in trading Thursday after the company reported mixed fourth-quarter results. However, analysts have largely reiterated their ratings on the stock and lifted their price targets.
mountain PowerSchool outperformed its edtech in 2022, but the tables have turned so far this year. That seems surprising given widespread fears about inflation and a possible economic slowdown. "The beauty of our industry is that it's very resilient and what we sell is mission critical," said CEO Hardeep Gulati, in an interview with CNBC on Thursday. Demand for PowerSchool's products are largely driven by the growth of school budgets, which are recession-resilient.
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