The Commonwealth Bank of Australia (ASX: CBA) share price and Catapult Group International Ltd (ASX: CAT) share price may not be dirt cheap, despite retreating from their all-time highs.
Commonwealth Bank
Around two years ago, CBA shares topped $96. Since then, it has been treading water as the market comes to grips with higher US interest rates, tighter regulation, slowing house price growth and increased competition.
Like Australia's other banks, CBA has enjoyed a couple of decades of helpful tailwinds like falling interest rates and ballooning household debt levels. Unfortunately, given a 'commonsense' outlook for these factors, I think it would be a stretch to believe that they can continue.
With CBA shares at $81.50, the bank's share price still trades at a premium to its peers and the broader market.
Catapult Group
From Australia's largest company to a small and innovative technology business. Catapult is a Melbourne-based sports analytics business whose shares fell from an all-time high of $4.29 in August to a recent low of $1.56.
Despite the selloff, however, not much has changed. The company has continued to grow its client base and invest in its elite, prosumer and video analytics businesses.
Ordinarily, when a share price falls but the business stays the same it's an opportunity for long-term investors.
However, I would not call Catapult shares a 'bargain' at today's prices. Indeed, the company has a large market in its prosumer GPS business, but it may be a bit premature for investors to place a significant emphasis on its success.
Buy, Hold or Sell
Having fallen back from their all-time highs, it's fair to say that Commonwealth Bank and Catapult shares are now cheaper. Yet, I would not call them a bargain.
I think Catapult shares may be worth a high-risk long-term investment at today's prices, but its success it not guaranteed. In addition, Commbank shares are too expensive for my liking.
