It's just one of many software companies in the cloud and cloud security space that are apparently the next best thing since sliced bread. Included in this space are SHOP, WDAY,NOW, VEEV, COUP, TWLO, HUBS, NEWR, TTD, TEAM, to name a few. The cloud security space, PANW, SPLK, CYBR, PFPT, FTNT, SAIL, to name a few. Most are up 50 to 100% just since the December lows. Some are up 4 or 500% in the last 52 weeks. It seems as though anything cloud related gets a hefty premium, just like the cloud video conferencing IPO yesterday, ZM, which was up roughly 75% over the initial public offering price of $36. Most are obviously considered growth companies and heavily institutionally owned. Valuations for the most part are nosebleed, and only time will tell as to whether or not those valuations are justified.
I can't say either way with any degree of certainty. I'm not up to speed on the dynamics and ramifications of the cloud, and what the possible growth potential is for the cloud space and the stocks I mentioned. Perhaps some one else here on ET could help me out. That being said, the frenzy in the sector almost immediately reminds me of the dot.com bust, although I'm not saying that is the case here. This is a market of extreme's, to the up side as well as the down side, so I'll stick to what works best for me.
I don't know if this portends a major sell-off soon... but there sure are a lot of (historically) defensive stocks making all time highs. Wonder why. Proctor Kimberly Clark Tysen McDonalds PPG Wendy's Unilever (tech) Intel Cisco Microsoft Smart money?
the model is rather difficult to result in profitability unless they can scale massively to increase margin. But its EC story focused on small-mid size companies is a good one and user growth has indeed been impressive..stock is overpriced but well who cares? at this stock price and overall market level, will try shorting 1000 shares to see how it goes then scale up or abandon