RE: True value24 Sep 2021 09:51
A few data points as to why DARK could hit a target SP of 2300 to 7200 & 900 to 1000 is low
At a SP of 915 the Market Cap is £6.38B ($8.75B)
In Customer Relationship Management (CRM) the big boys all bought Siebel etc & IBM, Oracle & Microsoft have big offering but Salesforce still thrived as an independent cloud leader now with a Market Cap of $224B
In Human Resource Management the big boys bought PeopleSoft etc & again all the big players have offerings but Workday still thrived as an independent cloud leader now with a Market Cap of $57B
In a commoditised Single Sign On security space, again big boys like Microsoft, Oracle & Salesforce have solutions but Okta is thriving as a breakout cloud specialist, valued at $31B & growing
Recently Norton announced buying Avast for $8B as they try to firm up offerings in the space. Analysts say that was cheap!
Darktrace main competitors such as Crowdstrike are valued @ $59.85B with circ $1.34B ARR over 9,900 customers and has just entered Nasdaq 100!
Dark NOW has 5,605 customers, having grown its customer base by 45.3% year-on-year with Annualized Recurring Revenue (ARR) of 357.3 million outlook, which represents year-over-year growth in constant currency ARR of at least 45.7%. Currently valued @ $6.38B
The total addressable market (TAM) for Darktrace is $28 billion and by 2024, $40 billion so a lot to go around.