Darktrace Share Discussion Threads

[trickyricky] 26/4/2024 08:19

Same here, not complaining though

[martinc] 26/4/2024 08:19

I agree. This was one of the few tech companies over here with good prospects, and it's gone. I only bought shares in it over the last week or so, so my return isn't too bad, but I'd have preferred to have kept them for ten years.

[trickyricky] 26/4/2024 08:19

Sell up or wait for possible counter offer?

[johndoe23] 26/4/2024 08:18

That be why then!!

[john henry] 26/4/2024 08:15

And another LSE tech company disappears from the UK market.

[bigbigdave] 26/4/2024 08:15

26 APRIL 2024

RECOMMENDED CASH ACQUISITION

of

Darktrace plc

by

Luke Bidco Limited

(a newly-formed company indirectly wholly-owned by funds managed and/or advised by Thoma Bravo, L.P.)

to be implemented by means of a scheme of arrangement

under Part 26 of the Companies Act 2006



Summary

· The boards of directors of Luke Bidco Limited ("Bidco") and Darktrace plc ("Darktrace") are pleased to announce that they have reached agreement on the terms and conditions of a recommended all cash acquisition by Bidco of the entire issued, and to be issued, ordinary share capital of Darktrace. It is intended that the Acquisition will be implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the 2006 Act.

· Under the terms of the Acquisition, each Darktrace Shareholder will be entitled to receive:

for each Darktrace Share: $7.75 in cash

· The GBP equivalent value of the Acquisition price per Darktrace Share based on the Announcement Exchange Rate, being 620 pence, represents a premium of approximately:

o 44.3 per cent. to the volume-weighted average price of 429.9 pence per Darktrace Share for the three-month period ended 25 April 2024 (being the last Business Day before the date of this announcement);

o 20.0 per cent. to the Closing Price of 517.0 pence per Darktrace Share on 25 April 2024 (being the last Business Day before the date of this announcement);

o 19.6 per cent. to the highest closing share price of 518.6 pence per Darktrace Share for the twelve month period ended 25 April 2024 (being the last Business Day before the date of this announcement);

o 46.0 per cent. to the 21 March 2024 secondary placing price of 425.0 pence per Darktrace Share; and

o 148.1 per cent. to the IPO price of 250 pence per Darktrace Share on 30 April 2021.

· The Acquisition values Darktrace's entire issued, and to be issued, ordinary share capital at approximately $5,315 million on a fully diluted basis and implies an enterprise value of approximately $4,992 million (which is equivalent to £4,254 million and £3,995 million respectively based on the Announcement Exchange Rate) and a multiple of approximately 34 times Darktrace's Adjusted EBITDA for the twelve months ended 31 December 2023 of $146 million.

[johndoe23] 26/4/2024 08:14

Naked trader bought in recently

[abid6814] 26/4/2024 08:14

Takeover rns

[trickyricky] 26/4/2024 08:13

Sudden spike up, something afoot?

[foreverbull] 24/4/2024 19:31

Looking at the strong volumes I wondered if something is brewing behind the scenes

[netcurtains] 24/4/2024 17:35

this share ....
LOL

[quepassa] 24/4/2024 15:16

Would be twice the price on NASDAQ.

Need to delist from UK and relist State-side.

[foreverbull] 24/4/2024 09:19

500p .....

[r9505571] 20/4/2024 08:56

Price target increased by 10% to UK£5.83Up from UK£5.28, the current price target is an average from 16 analysts.New target price is 22% above last closing price of UK£4.76.Stock is up 85% over the past year.The company is forecast to post earnings per share of US$0.12 for next year compared to US$0.089 last year.

[apotheki] 19/4/2024 15:07

Darktrace boosted by BofA double-upgrade to 'buy'

Shares in Darktrace advanced, bucking the weaker market trend, as Bank of America double-upgraded its rating to 'buy'

[foreverbull] 19/4/2024 09:16

Wuh...what? It may have skipped your attention but DT have won various awards which includes Th Cyber AI Product of the year, AI and Machine Learning Award. It has unbelievably 9000+ customer with more than 2000 employees, 175 patents, started from scratchy and now recurring revenue of more than $0.5billions expected to rise to $0.7billion. It is a bit disappointing that novices like you don't read the financial and other information properly.

[deputy303] 18/4/2024 19:44

What’s up millennial have you not closed your short

[apotheki] 17/4/2024 09:45

Great company growing fast

Target 1000p

[millennialinvestor] 17/4/2024 09:42

Bunch of scammers selling fancy graphics on a network monitoring tool that you can get open source for free.

Target 40p.

[halfpenny] 17/4/2024 08:40

Interest Rated Remain Higher for longer Debt Increases.

Target 400p ....

[timmy11] 12/4/2024 19:23

Broker Recommendations for Darktrace (DARK)
Date Broker Recommendation Old Target New Target Rating Type
12-Apr-24 Jefferies Buy - 890.00 Reiteration

[millennialinvestor] 11/4/2024 15:08

Darktrace? More like retrace.

[someuwin] 11/4/2024 12:21

...And of course, if DARK is trading 60% below US peer groups. That means DARK has to increase 150% to catch up.

[someuwin] 11/4/2024 12:11

Analysts at Berenberg raised their target price on software and services firm Darktrace from 600.0p to 630.0p on Thursday after the group's third-quarter results earlier this morning demonstrated a continuation of "strong momentum" seen in Q2.

Berenberg noted that annualised recurring revenues had grown 23.5% year-on-year to $731.1m, with $29.0m of net annual recurring revenues added in the quarter – up 6.2% year-on-year.

"We think that this is particularly significant within the context of negative yoy changes in net ARR added in Q1 (-22%) and Q2 (-4%)," said Berenberg, which has a 'buy' rating on the stock.

The German bank added that the company also upgraded its growth and margin outlook for the third time in three months, leading the analysts to increase its ARR, revenue and adjusted underlying earnings forecasts in response.

"In our view, Darktrace remains poised to outperform, given: a) its ongoing potential to exceed growth and margin expectations; b) that it has sufficient growth and operating leverage to drive a c30% FY23- FY26 CAGR in free cash flow per share; and c) the fact that it warrants a multiple rerating – at 4.4x CY24 EV/sales, it trades at a c60% CY24 EV/sales discount to US peers," said Berenberg.

"Darktrace trades on 4.4x CY24 EV/sales, c60% below our US peer group, despite similar expected sales growth and higher expected margins."

[bartyb] 11/4/2024 11:51

Berenberg raises Darktrace price target to 630 (600) pence - 'buy'
In today's Broker ratings