jump to navigation

SaaS Index Insights Volume 3 August 20, 2010

Posted by Bernard Lunn in capital markets, SAAS.
trackback

The Report is available on CapitalMarkets.com , price $125.

Here is the Table Of Contents:

1. Summary……….. 3

Top 5 Q-Q Revenue Momentum Winners……….. 3

Buy, Sell & Short Recommendations……….. 4

2. The SaaS Investment Thesis……….. 5

This Report Is SaaS, Not Cloud: The Top Of The Stack……….. 5

Why SaaS Is Better For Customers……….. 5

Why SaaS Is Better For Vendors (ie Management Team)……….. 6

Why SaaS Is Better For Investors……….. 6

Buy The SaaS Index Or Individual SaaS Stocks?……….. 7

SaaS And Macroeconomic Cycles……….. 7

What Investors Should Focus On During This Phase Of The Transition To SaaS……….. 7

3. Companies In The Pure SaaS Index……….. 8

Concur Technologies (CNQR)……….. 2

SALESFORCE.COM (CRM)……….. 3

Constant Contact (CTCT)……….. 3

DemandTec (DMAN)……….. 4

Kenexa (KNXA)……….. 5

LogMein (LOGM)……….. 6

NETSUITE (N)……….. 7

RightNow Technologies (RNOW)……….. 7

SuccessFactors (SFSF)……….. 8

Taleo Corporation (TLEO)……….. 9

DealerTrak (TRAK)……….. 10

Ultimate Software (ULTI)……….. 11

Vocus (VOCS)……….. 11

4. Finding The Next SaaS Momentum Play……….. 12

Revenue Is A Meaningful Comparable For SaaS Companies……….. 12

Why We Measure Q-Q Revenue Growth……….. 12

SaaS Stocks Ranked By Q-Q Revenue Growth……….. 13

SaaS Stocks Ranked Revenue By Momentum Across 2 Qtrs……….. 13

5. Finding The Next Value Play In The SaaS Index……….. 15

Value Filter # 1: PSR (Price Sales Ratio)……….. 15

Looking For Cash……….. 15

How Does The Market Trade Value In SaaS?……….. 16

The M&A Driver……….. 16

6. Who Is In Both The Value 5 And The Momentum 5?……….. 16

7. Size Matters: Escape From Small Cap Hell……….. 17

8. SaaS Index Valuation &  Performance……….. 18

Tracking Versus The Big Tech Index……….. 18

SaaS Index Valuations vs Big Tech Index Valuation……….. 19

9. Valuing The  Salesforce.com (CRM) Bellwether……….. 19

The 3-Point Bear Case On CRM……….. 19

The 3-Point Bull Case On CRM……….. 20

How Did The Market View CRM Last Quarter?……….. 21

What Does The Latest CRM Qtr Report Tell Us?……….. 21

10. Appendices: First Time Subscribers Start Here……….. 22

A: Index Methodology……….. 22

B. Salesforce.com (CRM) The SaaS Bellwether……….. 23

C: Force Platform – Will This Take Salesforce.com To The Next Level?……….. 23

D: Finding The Momentum Play In The SaaS Index……….. 25

E: Why Deferred Revenue May Be Becoming Less Important……….. 25

Advertisements

Comments»

1. Barometer: SaaS Stock Indexes - The Future is On Demand | ECtimes.com - August 21, 2010

[…] of the market's health. The Software Insider Index includes both on-premise and SaaS services. SaaS Index Insights is a pure SaaS index. Bernard Lunn uses the report to explain the benefits and the critiques of […]


Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: