- The company has a fairly unique value proposition for business and is faced with a significant greenfield prospect to conquer.
- It also has cash to continue investing for almost a decade (at this pace).
- However, the shares sell at a low multiple because it largely sells perpetual software licenses, and its SaaS part is still insignificant.
- However, it does generate recurring revenues, maintenance and professional services grow much faster than licenses and enjoy high margins.
- Hence we think the company should sell at a higher multiple, even if the market seems to disagree with that opinion.
Tufin Is A ‘SaaS-Like’ Company That Deserves A Higher Multiple
May 5th, 2020 · No Comments