Darktrace soars on bid approach from Thoma Bravo
Darktrace floated on the London Stock Exchange in April last year
Company
LON:DARK
Darktrace is a world leader in Autonomous Cyber AI, having created the first, at-scale deployment of artificial intelligence for the enterprise. Developed by mathematicians, Darktrace uses self-learning AI algorithms to detect and neutralize cyber threats across diverse digital estates, including the cloud and networks, IoT and industrial control systems. Requiring minimal set-up, Darktrace AI protects against previously-unknown vulnerabilities, ransomware, data loss and insider threat.
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Darktrace floated on the London Stock Exchange in April last year
Darktrace also launched its new ‘PREVENT’ offering - an interconnected set of AI products that help organisations pre-empt future cyber-attacks
One of the company's executive directors was yesterday named in a High Court ruling on the sale of Autonomy to Hewlett Packard
The mid-cap company’s chief strategy officer Nicole Eagan was investigated by the US Department of Justice for her role in the £8.9bn (US$11bn) sale of software business Autonomy in 2011
Costs are rising as it expands into the US, said the cybersecurity specialist
“In addition, there is a risk from public cloud vendors such as Microsoft, Google and Amazon"
Annual recurring revenue is now forecast to grow at a rate of 38.5-40%
Defence companies Meggitt and Melrose and cyber group Darktrace will be in focus tomorrow
The unnamed customer employs 250,000 staff across over 70 countries
The least preferred in the TMT sector are FD Technologies, 4imprint Group and Kape Technologies
"I am very pleased that we have continued to deliver strong growth across our customer base, ARR and revenue in1H FY 2022,” said Cathy Graham, Darktrace CFO.
The review is scheduled for next week, with any changes coming into effect on December 21
Analysts said the cybersecurity group is building a “deeper competitive moat”
"Speaking with its customers, it appears Darktrace’s strong marketing engine has been a cause of some controversy, as many felt there was a gap between the promise and reality," the analysts said
The US dollar has recently strengthened against key international currencies, such as the pound and the euro, creating foreign exchange headwinds
Darktrace shares have soared since they started trading at 250p in April
Sales performance has been towards the upper end of expectations in the recent weeks
The investors have sold the shares at a price of 620p each, a massive 148% premium on the cybersecurity group's IPO price of 250p
If you had a portfolio of stocks that listed in 2021, you'd be sitting pretty right now
The broker said a rampant increase in cybercrime so far this year meant the outlook for the company is “only improving”