Published on 17 Dec 2023 on Simply Wall St. via Yahoo Finance
Revenues Working Against Appen Limited's (ASX:APX) Share Price Following 34% Dive
Unfortunately for some shareholders, the Appen Limited (ASX:APX) share price has dived 34% in the last thirty days, prolonging recent pain. For any long-term shareholders, the last month ends a year to forget by locking in a 74% share price decline.
Following the heavy fall in price, Appen may be sending buy signals at present with its price-to-sales (or "P/S") ratio of 0.3x, considering almost half of all companies in the IT industry in Australia have P/S ratios greater than 1.7x and even P/S higher than 5x aren't out of the ordinary. However, the P/S might be low for a reason and it requires further investigation to determine if it's justified.
View our latest analysis for Appen