Mike Murray (Australian Ethical): I’m going to go with a buy on this one, Ally. We actually hold this in our active portfolios. We are excited about the opportunity for this company. It meets a couple of things that we look for: it has a global market for its product, and it has a very big market, it has a recurring subscription based revenue model, and the pricing of its product is quite attractive. So it is coming in under the pricing of Adobe, which really owns that market, so it is a buy for us.
Ally Selby (Livewire Markets): Nathan, over to you. It has not been able to turn a profit yet. Is it a buy, hold or sell?
Nathan Hughes (Perpetual): I’m going to disagree with Mike and say it is a sell, but that is really driven by valuation. I think it is a really interesting product, and as Mike said, it has a really massive market opportunity in front of it. They are delivering strong revenue growth and a lot of that is recurring, but we are not seeing any of that translate into profitability and continued losses are forecast, so from our standpoint, it is a sell.
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