Tenable Holdings: An Attractive Play In The Growing Cybersecurity Sector (Archive)

This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.

Elevator Pitch

• Enterprises' willingness to spend and upgrade cybersecurity is increasing, and vendor consolidation is a growing theme in a historically fragmented market.
• Tenable is well-positioned as a market leader with pricing power in the cloud security market, and is the outright leader in the Vulnerability Management category.
• Tenable's management has a strong track record of outperforming on both revenue and margins, instilling confidence in their growth targets.
• Given the bullish growth context, Tenable appears undervalued at current EV/Sales valuation multiples.
• On the risks side, Ermetic acquisition was an expensive one and management is yet to prove their capital allocation capabilities.

Read the full article here.