After reading the report a while ago, I bought some IRE shares. They have now dropped in value. Do you feel they are still worth holding?
A: No one likes losing money on paper – however, I don’t see anything remarkable in Iress’s (IRE) recent share price. They peaked at $11.29 in February – at the moment at $10.04, they are off around 11%. The market peaked at 6,000 – at 5,500, it is off 8.5% – within the margin of error.
I am not aware of any recent news that has impacted Iress, apart from a small acquisition, or change of market sentiment.
According to FN Arena, the brokers are marginally positive. Sentiment is +0.3 (scale -1.0 is most negative to +1.0 most positive), consensus target price is $9.95.
Iress will report later this month – I think I would hold for the time being.
