CISO Global (NASDAQ: CISO), an industry leading cybersecurity and compliance provider, was featured in a recent equity research report published by Cantor Fitzgerald. The report, titled “Consistent 1Q23 Execution Adjusting for Non-Cash Related Charges/Noise,” adjusts Cantor’s 12-month price target to $1 from $2 due to volatile trading conditions while emphasizing CISO’s consistent business execution and its solid start to 2023.
The publication reads, “As the focus in 2023 is on profitable growth, free cash flow was at -$2.3M, an improvement of over half a million dollars q/q and by +$800K better versus 1Q22. We attribute the FCF improvement realized to efficiency optimization on the best-in-class operations team, in our view. Deferred revenue growth continued on its accelerating path expanding >1.1x y/y to clear $4 million again, an indication the company is making headway into the large enterprise accounts. The cybersecurity talent labor imbalance continues to pivot to a shortfall, and the condition has not materially improved since last year, as we expected it would. The industry secular tailwind is supporting strong fundamentals in a recurring revenue rate of >62% on a TTM basis and a new logo retention rate of over 90%. On balance, we believe team CISO Global is starting 2023 in consistent execution despite the ongoing macro challenges and volatile trading conditions impacting the general software sector; however, we envision the company will accelerate at a healthy pace of 40-50% organically through 2023-24.”
To view the full report, visit https://nnw.fm/Il8mL
About CISO Global Inc.
CISO Global is an industry leader as a managed cybersecurity and compliance provider. The company is rapidly expanding by acquiring world-class cybersecurity, secured managed services, and compliance companies with top-tier talent that utilize the latest technology to create innovative solutions to protect the most demanding businesses and government organizations against continuing and emerging security threats and compliance obligations. For more information about the company, visit www.CISO.inc.
NOTE TO INVESTORS: The latest news and updates relating to CISO are available in the company’s newsroom at https://nnw.fm/CISO
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information please visit https://www.networknewswire.com
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
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork.
