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  • NQ Mobile: A Suspicious Chinese Stock [View article]
    Nothing concrete here. It's extremely common for companies to do "soft launches" at the app store, gain feedback, tweek the product and then do a more formal launch with press behind it to drive awareness.
    The numbers speak for themselves, thats the bottom line. Expect to see greater than 50% revenue growth for the next several years, significant cash flow generation, rising operating margins, massive expansion internationally, many new products..NQ is at the center of some of the strongest mega trends out there; mobile, security, games. They are building a very impressive mobile platform which carries with it enormous leverage and scale.
    As far as the CFO goes, given NQ's rapid intl expansion, growth and overall rising profile, making a move to someone with international experience and presence makes a lot of sense. The numbers are clean, they have been scrubbed by PWC, some very large institutional funds which have recently taken sizeable positions, and some of the top VC's which had been involved prior to the ipo.
    As far as the growing short base, that is a bullish development not a bearish one. It tells me that the explosive stock move has been accompanied with real long buying and not just short covering. The increased short base will only fuel further buying down the road, at much higher prices I would imagine. Moreover, this short position is now significantly under-water....
    Oct 1, 2013. 08:14 AM | 4 Likes Like |Link to Comment
  • I Knew These Stocks Would Outperform The Market: New Price Targets Make Them Still Very Attractive [View article]
    Hi, I'm not worried about QIHU at all. NQ has diversified its business massively, and on the consumer security piece NQ is expanding quickly outside of China. becoming a true global platform. QIHU is staying within China and is very focused on gaining share on the search market vs bidu. I see stable to growing market share for security piece within china for NQ
    Sep 21, 2013. 06:02 PM | Likes Like |Link to Comment
  • I Knew These Stocks Would Outperform The Market: New Price Targets Make Them Still Very Attractive [View article]
    Justin - great write-up.. I agree on NQ, the growth drivers are huge. I recently met with management and was blown away by their talent and vision. They are literally in the center of 3 enormous tailwinds for their business: consumer mobile security, enterprise mobile security, and mobile gaming. Huge growth starting ex China. Building a true mobile Internet platform company which will soon be recognized by the street and get a similar multiple as its peers which range between 40-60x eps. NQ should earn min $1.50 in '14 and well north of $2.00 in '15 which would imply a price target well north of $50 over the next year. This could be a $100 stock in 2 years time.
    Sep 20, 2013. 06:41 AM | 1 Like Like |Link to Comment
  • Acacia Research: A Compelling Long With Undervalued Assets [View article]
    Great article. The one point I would add is that in addition to the $6.50 a share in cash they have on their balance sheet, over the past 12 months, ACTG spent over 200mm in cash outlays for access to several hundred million dollar portfolios. This capital gets paid back first to ACTG upon monetization then they split revenues. Point being, one could think of that 200mm as "cash" as we'll which would equate to another $4.00 a on that basis, they are really sitting on over $10 a share in "cash". Plus it pays a 2% dividend. The value is huge..
    Aug 29, 2013. 12:10 PM | 3 Likes Like |Link to Comment
  • Cornerstone OnDemand: Growth Story As Competition Vanishes [View article]
    CSOD will generate 18mm in cash flow this year so the comment of losing money is not accurate. Growing revenues 55+% and cash flow will grow close to 100% over next few years
    Aug 9, 2013. 08:56 AM | 1 Like Like |Link to Comment
  • NQ Mobile - Pure Play Mobile Game And Mobile Security Hyper-Growth Company Is Still Dirt Cheap [View article]
    Once again, an incredible write-up. Michael Saylor's book "The Mobile Wave" clearly articulates the coming explosion of all things mobile. The author here has this one nailed. NQ could be the most perfect stock to own for years to come to exploit this coming tsunami. It is still significantly under-valued by any measure. Now that this stock broke out of its 2 year range, it will soon be a must-own stock for institutions. Well done
    Aug 5, 2013. 03:07 PM | Likes Like |Link to Comment
  • NQ Mobile - $44 Price Target = 300% Upside From Here [View article]
    Techguru -your comments are fantastic and very helpful as well. I didnt realize the founder lockup was that much stock. Thank you
    Jul 30, 2013. 10:13 PM | 1 Like Like |Link to Comment
  • NQ Mobile - $44 Price Target = 300% Upside From Here [View article]
    Incredible analysis!
    Jul 22, 2013. 10:51 AM | 1 Like Like |Link to Comment
  • Linn Energy: Many Ponzi-Like MLP Blow-Ups To Follow [View article]
    James -great write-up, can u recommend a few other names that i can do work on on the short-side?
    Jul 7, 2013. 11:05 AM | 1 Like Like |Link to Comment
  • Investing In SaaS Stocks: The Trend Remains Strong [View article]
    Graycell, im sorry but this isnt accurate. They have tremendous success in their Performance Cloud. They have a huge number of large enterprise clients that have the Performance cloud. Just listen to today's conference call and you will see what I mean. CSOD is dominating the large enterprise segement with the Learning cloud and Performance cloud. Its extended enterprise cloud is one of a kind and there is not a single competitor that has anything close to what csod has. In addition, its recruiting cloud is already gaining significant traction and come the June release will dominate the marketplace. On today's conference call, they specifically highlight a huge list of wins across large enterprises many of whom dont just buy one cloud. This has been the case for years. If you need any further clarification Id be glad to share it with you, thank you
    May 1, 2013. 10:55 PM | Likes Like |Link to Comment
  • Investing In SaaS Stocks: The Trend Remains Strong [View article]
    Hi, you mentioned in your article that CSOD is focused on the smb sector. While CSOD has a large and growing presence in smb, it's original roots was in penetrating large enterprise accounts. They have some of the largest global enterprise customers in the space and have proven an ability to beat out SAP and ORCL. So yes you are right they have a large presence in smb but wanted to point out they do dominate in large enterprise.
    Apr 30, 2013. 09:17 PM | Likes Like |Link to Comment
  • Acacia Research's Earnings Were Terrible - And Why You Should Be Buying Now [View article]
    Thank you very much. As a suggestion, you should have them edit the title of the article b/c if you meant "terrible" as facetious it doesnt read that way in the headline. Some might see that and immediately not connect/read it..At a minimum have them put quotes around the word but i would change it to something else...great article !
    Apr 22, 2013. 03:44 PM | Likes Like |Link to Comment
  • Acacia Research's Earnings Were Terrible - And Why You Should Be Buying Now [View article]
    Good article, few things I would add:
    -The quarter wasn't really "horrible", it was actually Acacia's second highest revenue quarter in its history; moreover they even beat street estimates.
    -While some I'm sure were "disappointed' that the Apple settlement was only around 50mm, even if it were 100mm and they were to net another 25mm in cash from it, should that delta result in a loss of 400mm in market cap?
    -The CEO has recently stated they expect 2013 revenue growth to be in excess of 35% over 2012, which would put revenues at approx 350mm. The 2014 growth will likely be as strong if not stronger given the portfolio intake
    -Q2 is already off to a great start with a few big licenses already signed
    -The company has a 100mm stock buyback in place with approx 75mm of it remaining. The last time the stock was here it was activated, so I would bet that starting this week when the window opens they will be actively buying stock
    -The stock is now the cheapest asset on the planet. $6.50 a share in cash. Plus approx 350mm ($7) spent in the last year on upfront payments for IP; they will likely get very levered returns on this cash to the tune of 5-10x as it bought them access to huge portfolios.
    -So in essence you come up worth $13.50 in cash and "cash invested". They own 100% of Adaptix IP which has another 10 yrs left and is arguable one of the strongest patent portfolios out there. That will likely yield 500mm + over the next several years. NPV it and after-tax and you come up with close to $5.00 of value on that portfolio alone. So $13.50 + $5 =$18.50.
    -The stock at $22 minus what I consider "cash" of $18.50 and you are really only paying $3.50 or $175mm for the entire enterprise value of this company! This for a company growing top line 35-40% a year, and will likely see 2014 revenues top 450mm and generate over $3.00 a share in cash flow. So on this basis, its EV is valued at approx 1x 2014 cash flow!
    -I would expect value buyers to get involved in a big way at this point
    Apr 22, 2013. 02:18 PM | 5 Likes Like |Link to Comment
  • Recent Weakness In Acacia Research Presents Buying Opportunity [View article]
    Hey, Im pretty sure top management exercised a lot of options when the stock was in the low 20's, so that would qualify as insider buying
    Mar 5, 2013. 09:47 AM | Likes Like |Link to Comment
  • Acacia Research Corporation - Meeting Unmet Needs [View article]
    Well done
    Jan 11, 2013. 09:25 AM | Likes Like |Link to Comment