Who is buying $CRWD and $NET at 33x NTM revs? Does anyone really think these companies are undervalued? Are you expecting more multiple expansion? $CRWD and $NET are trading at 100x NTM FCF and 240x NTM FCF (respectively) not including SBC. I understand wanting cybersecurity exposure but hard to imagine these stocks provide good returns over the next 3-5 years from these current valuations/multiples.
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