The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
It’s says third or fourth quarter in the RNS
Took 3-4 weeks for this to fall through last time but this seems stronger worded & probably a move to delist in US so easy for a US company to buy vs being involved with the useless London Stock Exchange
If it goes through they will be cashed out to your account at 6.20 should you not sell them
Their last rating was:
12-Apr-24 BUY Target 890
Yet …
“The Darktrace Directors, who have been so advised by Jefferies and Qatalyst Partners as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable.”
Well my forecast was pretty good 😇🤣 💥
Yep that’s why I took the money as it could easily fall through again and if it doesn’t it’s 620 so no brainer - if it falls through I’ll buy back in at 500
WAY undervalued but hopefully it falls through again & I can buy back in 😇 otherwise thanks for the 3rd gift you’ve given me Darktrace
What poor timing 🤣🤣🤣🤣🤣
Agree with both points 👍👍
Cadian Capital Management, LP 0.53%
https://shorttracker.co.uk/company/GB00BNYK8G86/
The question is are Crowd overpriced & S1 right priced or somewhere in the middle?
Either way its an upside of 50% to 360%
Sentinel One is similar ARR at $724M vs Dark $731M
They are 9.25x ARR
So easily Dark is 50% off its lowest US competitor
Bringing SP to 773
Typo that should be 6x which makes it 2394 which makes you RIGHT!
Crowd is trading at 28x ARR
Dark is trading at 14x
Taking just that metric ignoring profit and noting Dark has 41% of the customers of Crowd
Like for like the SP should be 1026
I think £23 is too high but from a comparison a valid comment
I did a comparison to loads of other SaaS companies a while back showing ARR to valuation multipliers and back then Dark was 700-1100 low end with a realistic 1200 fair value (by comparison). Revenue is stronger now so I need to redo that. Would love 2300 but feel 700 is about right for current performance but forward looking or buyout it certainly must be in the 1000-1500 range.
Https://uk.investing.com/equities/darktrace-consensus-estimates
Here's a UK version https://www.tipranks.com/stocks/gb:dark/forecast
If you look at the current price it is the same as it is in £ they just have not changed character ie. it shows current price 510.60
Interesting WSJ Analyst Consensus shows BUY with 513 low, 700 mid (where I believe is fair value) & 1118 high
https://www.wsj.com/market-data/quotes/UK/XLON/DARK/research-ratings
A takeover discussion could hit any anytime (like Aug 2022) and it will pop overnight - I'm sitting tight on my holding
All their data on Revenue, ARR, Customer growth, Churn, Forecast growth, Cyber AI Market etc is solid
Beyond Crowdstrike there are many viable actors to bid for such an undervalued business;
Microsoft
IBM
Oracle
EMC
Cisco
Computer Associates
VMWare
Dell
HP
Pal Alto Networks
Okta
Google
Norton
McAfee
Symantec
SentinalOne
Sophos
Trend Micro