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Tufin Shares Are Still A Bargain

November 18th, 2019 · No Comments

  • While not a pure SaaS play, the company nevertheless sprouts a SaaS-like business model with recurring maintenance sales, 80%+ gross margins, 30%+ revenue growth, and large up-sell revenues.
  • We think that the 3.6x 2020 EV/S multiple is too low for a market leader with these characteristics. The company has multiple large greenfield opportunities in front of it.
  • While not profitable yet, at current speed, it can continue for well over a decade before running out of cash. Leverage will kick in much sooner than that.

Tufin Shares Are Still A Bargain – Tufin Software Technologies Ltd. (NYSE:TUFN) | Seeking Alpha

Tags: TUFN