Emerging Stocks Down Under 1 November 2022: Cirrus Networks (ASX:CNW)

Cirrus Networks: The next IT services play to shine?

The IT services space has been a good space to be in for ASX companies, primarily because companies are spending more and more on IT services – $37bn was spent in 2021 and this is expected to grow at a CAGR of 4.1% over 2021-25 to $43.5bn. Many ASX companies in this space and their shareholders have reaped the rewards. Atturra (ASX: ATA) has nearly doubled since its IPO last year, while Empired and DWS were taken over at hefty premiums. One company that has not had a good run is Cirrus Networks. Is its time coming, or are there legitimate reasons why it has lagged its peers?

Click here to read the previous edition of Emerging Stocks Down Under published 25 October 2022.

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