04 Oct Swing Trade Alert- KNBE
KNBE 22 area
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KNBE 21.95 AREA
The company is growing at 35-40% annually and offer Cybersecurity training as a service to corporations for their employees etc. Listed as sector leader in IBD paper over the weekend and hit my screen of swing trade candidates.
Over 22.50 and this should run as I expect a 2nd offer on a cash buyout to increase to 28-30 range.
KNBE received a recent unsolicited offer by Vista Equity Partners to buy them out at $24 all cash. Vista owns 9% currently. The stock hit 22.83 on the news from 17 area, has pulled back and rested. Now starting to move up and in a really bullish 3 weeks tight base during the market downturn. Once over 22.50 this should run to 24 plus and likely break higher.
This is likely a good risk reward set up from these levels with potential for them to agree to the transaction, and or maybe Vista comes back with a higher offer.
The company is cash flow positive, went public last year with Morgan Stanley.
An independent firm they hired says fair value is closer $28-$30 for them to sell fwiw.
Max entry 22.30 add to 21.50 on dips
Stop 20.30 near close
Target 27-30 for 21-35% potential