Kaltura: Disappointing Trends And Over-Reliance On M&A (Downgrade)
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Gary Alexander33.68K FollowersFollow5ShareSavePlay(8min)CommentsFollow us on Google for the latest stock newsFollow Seeking Alpha on Google for the latest stock newsSummaryKaltura has suffered significant declines, down ~20% YTD and ~40% over the past year amid industry-wide SaaS weakness.I now rate KLTR as "Neutral," given deteriorating growth trends and the emergence of better value opportunities among higher-quality software peers.KLTR benefits from secular video content tailwinds and has improved adjusted EBITDA margins, aiming for double-digit revenue growth and Rule of 30 by FY28.Despite operational improvements, KLTR's risks and lack of unique value now balance its bull and bear cases, warranting a more cautious stance. Tippapatt/iStock via Getty Images Since the start of 2026, the entire software industry has been turned upside down by the threat of AI. Software stocks have gone from being the hottest, highest-multiple growth stocks in the post-COVID era to the deep value plays that seemingly no investorThis article was written byGary Alexander33.68K FollowersFollowWith combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a regular contributor on Seeking Alpha since 2017. He has been quoted in many web publications and his articles are syndicated to company pages in popular trading apps like Robinhood.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.