Seeking Alpha

Allen Cooke  

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  • Party Like It's 1999 - Update [View article]
    Good article! As a student of subscription based models, I see that this one is missing a key element: Expanding margins accompanying the growing revs. The fact that the margin is contracting is a sign of churn, increased competition or other unhealthy items. I can't see why anyone would like to own this thing at over 55 X EBITDA (if there is actually any). The business combination accounting merits further investigation. Looks like If not for the addition of 740 mm in goodwiil from biz combinations CRM would have lost book value in the 1st 9 months of 2012.
    Why does the market love this thing?
    Nov 25, 2012. 01:51 PM | Likes Like |Link to Comment
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