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Kerrisdale Capital Short Thesis On Sourcefire (FIRE) PDF

22 Pages·2013·English
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by ['Wall Street Wanderlust']| 2013| 22 pages| English

About Kerrisdale Capital Short Thesis On Sourcefire (FIRE)

The document summarizes concerns about Sourcefire (FIRE) being overvalued given decelerating growth. Specifically, FIRE added the same number of new customers in 2012 as 2011 despite higher revenue growth due to short-term upsells. However, upsell opportunities are becoming saturated and the market is shifting to next-generation firewalls that could replace 50% of standalone intrusion prevention systems by 2015. The author believes FIRE's valuation far exceeds its intrinsic value based on management forecasts. Recent warnings from competitors Fortinet and Check Point also suggest industry-wide weakness that could impact FIRE's upcoming earnings report.

Detailed Information

Author:['Wall Street Wanderlust']
Publication Year:2013
Pages:22
Language:English
Format:PDF
Price:FREE
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