With another technology IPO trading at 100%+ after the 1st day of trading (BigCommerce: $BIGC), it appears that institutional buyside is really having their way with venture capital and investment bankers. Off the back of this continued mispricing by bankers, we have decided to publish our SaaS Commerce Comparable table to help make the valuation picture more clear. eCom Store Platforms While BigCommerce trades at a near 6oo% discount to Shopify’s EV/Gross Profit, it is actually trading at a 25% premium to Shopify’s SaaS Growth multiple. At the same time while Shopify reported very strong merchant sales (up 83% Q/Q), […]
GDDY
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We have created a table that summarizes most comparable data from our previous surveys. This data is used in our relative equity valuations. For Institutional Equity Research subscribers, we are providing this table while also making all our raw data available to you on request in excel format.
We have launched coverage of 14 additional enterprise software companies. Our models use a combination of SaaS metrics and non-GAAP financials to predict the current stock price. The relationship with our Enterprise focused model and the current stock prices (adjusted r-square) is 0.87 and for companies with an SMB/Entrepreneur focus our model has an adjusted r-square of 0.68. The performance of these stocks will be tracked in the Perspectec General Portfolio. In addition, we are moving Salesforce.com (CRM) from our Focused Portfolio to our General.Portfolio, due to a change in associate coverage. With this launch, we have published our Enterprise […]