One of the biggest threats to corporate America is ransomware. The growing possibility of losing access to essential or confidential digital property is a nightmarish scenario for executives, as the financial consequences can be enormous.
But it’s not just major companies that are at risk. We are all threatened with the loss of personal data security as hackers continue to develop new ways to exploit networks, software, and the array of evolving technology services. As the world advances to become more digitized, so too do its threats.
According to Research and Markets, the global network security market size reached a valuation of $4.68 billion in 2021. Experts project that by 2027, the global network security market segment will command a valuation of $16.6 billion, representing a CAGR of 23.5% from 2023 estimates.
Online security is a young, quickly evolving industry. Competition is heavy in the space, and demand continues to grow faster in both volume and complexity. Not all companies from the burgeoning subsector are set to last. As the undisputed leader in identity security, today’s featured company’s annual recurring revenue is snowballing, which translates to reliable income that’s steadily growing for years to come.
A Return to Normal? PhD Economist: “Don’t Bet on It”
According to former Goldman Sachs executive, Nomi Prins…
Americans who are hoping for a ‘return to normal’ are going to be shocked when they see what happens next in America.
She says, “If you’re betting your job, savings, or retirement accounts on a return to ‘normal’ you’re about to be left behind by a brand-new crisis few see coming.”
Go here now to see America’s next crisis
The undisputed global leader in identity security, CyberArk (CYBR), has been gaining attention on Wall Street. The stock is down 20% over the past 12 months. Regardless of any short-term earnings volatility, the potential for long-term, steady growth is too great to ignore.
CyberArk’s innovations occur across its self-hosted solutions and expanding SaaS portfolio of privileged access management, secrets management, and cloud privilege security offerings, helping its customers enable “Zero Trust” by enforcing the least privilege. Under the framework of its Zero Trust approach, its teams can focus on identifying, isolating, and stopping threats from compromising identities and gaining privilege before they can do harm.
The Israel-based company was recently named a leader in the Gartner Magic Quadrant for Privileged Access Management for 2021. It was positioned both highest in the ability to execute and furthest in completeness of vision for the fourth time in a row. It comes as no surprise the business has been attracting customers to its subscription-based services, which means tremendously reliable cash flow, a good sign for anyone eyeing the small-cap.
For its third quarter, CyberArk reported a 133% growth acceleration from the previous year’s quarter of the subscription portion of its annual recurring revenue (ARR) to $255 million. Total ARR came in at $465 million, with growth Accelerating to 48%. Management also increased the full-year 2022 ARR Guidance Range to $589-$601 million, up from a prior estimate of $583.5-$598.5 million.