MULE

Mar. 26, 2018 Summary Salesforce announced last week that it was acquiring MuleSoft at a substantial premium. Some observers felt that the valuation was excessive at more than 16X forward revenues, a new record, apparently for that metric in the enterprise IT space. This article looks at the valuation and why it was justified in the…

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Mar. 26, 2018 Summary Salesforce announced last week that it was acquiring MuleSoft at a substantial premium. Some observers felt that the valuation was excessive at more than 16X forward revenues, a new record, apparently for that metric in the enterprise IT space. This article looks at the valuation and why it was justified in…

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Nov. 20, 2017 Summary MuleSoft recently annouced the results of its fiscal Q3. Results were quite strong with calculated bookings growth of 84%. The strong revenue attainment was not matched with an EPS upside and the shares showed just modest reaction to the company’s revenue beat. The company’s forecast for Q4 show strong revenue growth,…

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Mar. 25, 2017 Summary MuleSoft went public last week and the shares have appreciated by 32% since the offer price. Based on my guesses, the company has an EV/S of about 9X, far too high for any but the most special of IT vendors. The company enjoys several advantages compared to competitors and should sustain…

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