Does IronNet Stock Rally Leave Room for More?

Thanks to the acceleration of digital transformation, and migration towards the cloud, shares of cybersecurity firm IronNet (IRNT) have headed north since it was listed on the exchange.  Notably, IronNet Read More... The post Does IronNet Stock Rally Leave Room for More? appeared first on TipRanks Financial Blog.

Does IronNet Stock Rally Leave Room for More?

Thanks to the acceleration of digital transformation, and migration towards the cloud, shares of cybersecurity firm IronNet () have headed north since it was listed on the exchange. 

Notably, IronNet stock began trading on the New York Stock Exchange on August 27, and has risen about 130% since then.

Growing cyberattacks amid ongoing digital transformations are fueling demand for IronNet’s offerings, and driving its stock higher. I have a bullish outlook on IronNet. (See IronNet stock charts on TipRanks)

Highlighting the increase in cyberattack incidents, IronNet’s co-CEO, Keith Alexander, stated that IronNet’s platform provides “real time exchange of cyber event information and online collaboration for a radically improved defense.”

Thanks to favorable industry trends, IronNet’s ARR (annual recurring revenue) increased by 24% year-over-year to $24.1 million in Q2. Furthermore, its customer count increased to 51 from 22 in the prior-year period. 

However, its operating loss widened, while its calculated billings declined to $3.5 million compared to $7.4 million in the prior year.

Nevertheless, the company stated that the momentum in new customers remains strong so far in the second half of FY22. Furthermore, the company expects to double its ARR in Q3, on the back of its cloud-focused business, large new customer contracts, and increasing market recognition.

Owing to strength in its cloud-based subscription revenue, IronNet expects to deliver revenues of $43 million to $45 million in FY22. Moreover, it projects an ARR of $75 million at the end of FY22. 

Thanks to the strong outlook, investors’ interest in IronNet stock remains elevated. TipRanks’ Stock Investors tool indicates that investors currently have a Very Positive outlook on IronNet stock, with 27.2% of investors who hold portfolios on TipRanks increasing their exposure over the past seven days.

Further, IRNT scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that it has strong potential to outperform market expectations.

Disclosure: On the date of publication, Amit Singh had no position in any of the companies discussed in this article.

Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates, and should be considered for informational purposes only. TipRanks makes no warranties about the completeness, accuracy or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. TipRanks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by TipRanks or its affiliates. Past performance is not indicative of future results, prices or performance.

The post Does IronNet Stock Rally Leave Room for More? appeared first on TipRanks Financial Blog.

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Analysts Offer Insights on Conglomerates Companies: TC Energy (TRP) and Hardwoods Distribution (OtherHDIUF)

There's a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on TC Energy (TRP – Research Report) and Hardwoods Distribution (HDIUF – Research Report) with bullish sentiments. TC Energy (TRP) In a report released today, Robert Catellier from CIBC reiterated a Buy rating on TC Energy, with a price target of C$74.00. The company's shares closed last Tuesday at $48.16. According to TipRanks.com, Catellier is a 4-star analyst with an average return of 11.1% and a 64.9% success rate. Catellier covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, AltaGas, and Emera. Currently, the analyst consensus on TC Energy is a Moderate Buy with an average price target of $54.40, representing a 13.0% upside. In a report released yesterday, BMO Capital also maintained a Buy rating on the stock with a C$70.00 price target. See today’s analyst top recommended stocks >> Hardwoods Distribution (HDIUF) CIBC analyst Hamir Patel reiterated a Buy rating on Hardwoods Distribution today and set a price target of C$51.00. The company's shares closed last Monday at $28.27. According to TipRanks.com, Patel is a 5-star analyst with an average return of 24.8% and a 55.8% success rate. Patel covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co, Resolute Forest, and Stella-Jones. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Hardwoods Distribution with a $43.92 average price target. TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities. Read More on TRP: Does IronNet Stock Rally Leave Room for More? Nio Stock: Temporary Headwinds Present Opportunity Tactile Systems Stock: Better Outlook Lies Ahead Electronic Arts: Reasonably Priced, Catalysts to Come 3 Monster Growth Stocks to Beat the Volatility The post Analysts Offer Insights on Conglomerates Companies: TC Energy (TRP) and Hardwoods Distribution (OtherHDIUF) appeared first on TipRanks Financial Blog.

There's a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on TC Energy (TRP – Research Report) and Hardwoods Distribution (HDIUF – Research Report) with bullish sentiments.

TC Energy (TRP)

In a report released today, Robert Catellier from CIBC reiterated a Buy rating on TC Energy, with a price target of C$74.00. The company's shares closed last Tuesday at $48.16.

According to TipRanks.com, Catellier is a 4-star analyst with an average return of 11.1% and a 64.9% success rate. Catellier covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, AltaGas, and Emera.

Currently, the analyst consensus on TC Energy is a Moderate Buy with an average price target of $54.40, representing a 13.0% upside. In a report released yesterday, BMO Capital also maintained a Buy rating on the stock with a C$70.00 price target.

Hardwoods Distribution (HDIUF)

CIBC analyst Hamir Patel reiterated a Buy rating on Hardwoods Distribution today and set a price target of C$51.00. The company's shares closed last Monday at $28.27.

According to TipRanks.com, Patel is a 5-star analyst with an average return of 24.8% and a 55.8% success rate. Patel covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co, Resolute Forest, and Stella-Jones.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Hardwoods Distribution with a $43.92 average price target.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Read More on TRP:

  • Does IronNet Stock Rally Leave Room for More?
  • Nio Stock: Temporary Headwinds Present Opportunity
  • Tactile Systems Stock: Better Outlook Lies Ahead
  • Electronic Arts: Reasonably Priced, Catalysts to Come
  • 3 Monster Growth Stocks to Beat the Volatility

The post Analysts Offer Insights on Conglomerates Companies: TC Energy (TRP) and Hardwoods Distribution (OtherHDIUF) appeared first on TipRanks Financial Blog.

Source : Tip Ranks More   

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