SmartRent's Quiet SaaS Pivot: A Contrarian Long with Measured Stops
SmartRent (SMRT) is a small-cap provider of smart-home hardware and property-management software that appears undervalued relative to the SaaS direction management is pushing. Current enterprise value implies roughly 1.4x sales while price-to-sales sits near 2.1x. With insider buying, no interest-bearing debt, and meaningful cash per share, the set…