NetworkNewsBreaks – CISO Global Inc. (NASDAQ: CI
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Posted On: 06/12/2023 5:09:40 PM
NetworkNewsBreaks – CISO Global Inc. (NASDAQ: CISO) Expected to Build on Growth Momentum with Larger Enterprise Contracts, ‘Highly Favorable’ Landscape
CISO Global Inc. (NASDAQ: CISO), a leading provider of global cybersecurity and compliance, was featured in a recent Cantor Fitzgerald equity research report. “Noting that the company is strategically positioned to fill the cybersecurity talent shortage gap, Cantor Research gave CISO an overweight rating and a $2 price target… The equity report noted CISO’s significant Q4 growth, including revenue of $14.7 million, up 150.3% year-over-year, ahead of Cantor’s estimate of $13.2 million; security managed services growth of 161.8% year-over-year to $12.4 million at a margin of 61.8%; and growth of professional services totaling 102.6% year-over-year to $2.3 million at a margin of 83.2%,” a recent article reads. The company “historically bills customers on a monthly basis; however, the company has been selling larger multiyear enterprise contracts in 2022, resulting in a significant acceleration in deferred revenue,” Cantor reported. “We expect [CISO Global] to build on its momentum in making headway into larger enterprise customers, and therefore, we anticipate deferred revenue balance to build going forward.” Cantor also noted that the cybersecurity talent shortage landscape could be “highly favorable” to CISO.
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CISO Global Inc. (NASDAQ: CISO), a leading provider of global cybersecurity and compliance, was featured in a recent Cantor Fitzgerald equity research report. “Noting that the company is strategically positioned to fill the cybersecurity talent shortage gap, Cantor Research gave CISO an overweight rating and a $2 price target… The equity report noted CISO’s significant Q4 growth, including revenue of $14.7 million, up 150.3% year-over-year, ahead of Cantor’s estimate of $13.2 million; security managed services growth of 161.8% year-over-year to $12.4 million at a margin of 61.8%; and growth of professional services totaling 102.6% year-over-year to $2.3 million at a margin of 83.2%,” a recent article reads. The company “historically bills customers on a monthly basis; however, the company has been selling larger multiyear enterprise contracts in 2022, resulting in a significant acceleration in deferred revenue,” Cantor reported. “We expect [CISO Global] to build on its momentum in making headway into larger enterprise customers, and therefore, we anticipate deferred revenue balance to build going forward.” Cantor also noted that the cybersecurity talent shortage landscape could be “highly favorable” to CISO.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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