Peter Cohan said that Last fall, Datto went public 13 years after it was founded.
While Datto has a clear strategy, targets a large market, and reported decent growth in the third quarter, the company is 72.2%-owned by a private equity firm whose CEO, Robert Smith, admitted to serious crimes to evade some $40 million in taxes. A source close to the company said Smith “isn’t involved with Datto.”
Should you invest in Datto? The good news is that Datto is targeting a large market with a clearly focused strategy. Datto’s challenge is that its top-line growth rate has been solid — but well short of the 20% to 30% rate characteristic of companies that enjoy rapid stock price growth.
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