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Sep 6 2023, 07:00 IST/BST
Ratings and price correct at time of issue
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In our monthly valuation product, we provide an overview of key metrics across our three core coverage sectors: E-commerce, Online Marketplaces and Software & IT Services. After a strong July, August saw multiples fall slightly. P/E multiples declined by 0.5x on average across our three coverage sectors. Looking at price performance, our E-commerce coverage was flat, Online marketplaces -2% and Software & IT Services -5%. With the S&P 500 and NASDAQ (both heavily technology weighted) also -2% in August, perhaps we are seeing investors taking stock of technology following the rally year-to-date (ytd). The US bellwethers are +87% ytd while our coverage is +12% ytd.