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During the IPO season Francis Gaskins, editor of IPOdesktop.com & director of research for Equities.com, regularly appears on CNBC TV, Bloomberg, thestreet.com & other financial cable channels. On the day of the Visa IPO he appeared on four cable TV financial shows including Bloomberg... More
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  • Fortinet (FTNT) IPO priced at $12.50. Comparative valuations updated to IPO price & Tues close 1 comment
    Nov 17, 2009 11:09 AM | about stocks: FTNT, CSCO, JNPR, MFE, SYMC, CKP
    FTNT is the market leader in Unified Threat Management security market segment.  The closest publicly held comparable is Sonic Wall (SNWL)

    At the IPO price of $12.50 FTNT’s P/E is a little under SNWL while it’s Enterprise Value/Earnings ratio is a little over SNWL’s. 

    FTNT is priced at a premium regarding book value multiples.  See ‘financials’ at the bottom of the IPO report.

    Includes ENTERPRISE VALUE metrics compared to SNWL

    See ‘financials’ at the bottom of the IPO Report
    http://bit.ly/cmNot


    Themes: IPO, IPOs Stocks: FTNT, CSCO, JNPR, MFE, SYMC, CKP
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  • jonnoarmo
    , contributor
    Comments (5) | Send Message
     
    Yes their valuation is higher than SNWL, however FTNT has far less exposure to NorthAmerican mkt unlike SNWL (70% of their REV resulting in Year over Year decrease) where as FTNT is exposed far more overseas (18% REV growth year over year).
    20 Nov 2009, 02:21 PM Reply Like
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