Solid company with big improvements in cash flow and gross margins in the past few years. Revenue growth has slowed to 15-16%, and shouldn’t grow much faster in the next three years. Renewals have been good and they have a decent pipeline with two possible upsides from customers either moving from VMware after Broadcom acquired it, and a strategic tie up with Cisco, that should help business growth.
There are ample opportunities in cloud storage though it is competitive, it’s a growing market with all the datacenter spend right now.
The stock has already moved up 149% in the past year, so that could restrict upside gains. Valuation is OK with 7x sales and 16% growth, a bit on the higher side, Buy on declines or Dollar Cost Average, this is a good long term investment.