Hey there - plenty of interest in MAGT recently. Likely because its been on fire. I just answered a question about it a few days ago - here was my response:
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Magnetic is one of the few IPOs in recent months that has actually done quite well. I really like the company's products and business model but I am concerned about valuations here. Company is growth at a pretty decent clip (~30%) annually and i think they can maintain that type of growth for a while.
Thanks to its recent run up, its trading at an EV/Revenue of 12 and a forward P/S ratio of 25 - this isn't cheap. That being said - other SaaS companies are also not cheap and depending where you classify Magnetic - as a cybersecurity or data analytics company - it is trading at about the average. So based on the markets, it looks to be fairly valued here but the industry themselves are pretty expensive. So there is a risk that if valuations are reset downwards in the industry, Magnetic will fall along with it. But that isn't unique to MAGT - all will be impacted.
I'd consider it a 'buy the dip' candidate if you're concerned about valuation. However, long-term I can see this company doing quite well so long as it continues to execute. The latter is the key point and as a recent IPO, the jury is still out on whether or not it can meet expectations. It only has one quarter under its belt in which it topped estimates - good start, but IPOs tend to take pretty big dips if they don't live up to their promise. Not saying that it won't but one needs to take that risk into consideration.
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Since i only answered this a few days ago nothing much has changed. I like it, will be volatile but its certainly not cheap - even after it dipped following its response to IIROC in regards to trading activity.
Mat