Hello Everyone,
Wc closed out December strong and we have been on a roll over our past few profiles. We have seen major double and triple digit movement right out of the gate on all of our recent ones.
Our Profile is Safe T Group Ltd. (NASDAQ: SFET).
SFET has a compelling chart setup: the stock has come down from much higher levels and spiked to $2.98 highs in February of last year. From current base of $0.75 SFET has a gap to fill from current levels.
Safe T Group Ltd. (NASDAQ: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. Safe-T Group Ltd. engages in the provision of zero trust access solutions. SFET products include ZoneZero – Perimeter Access, ZoneZero SDP, ZoneZero VPN, ZoneZero MFA, and Secure File Access.
SFET ZoneZero® software is the first Identity-Based Zero Trust Orchestration solution providing centralized Identity-based Zero Trust Security and Multi-Factor Authentication, for all users in a given system. ZoneZero® enables organizations to implement identity-based security and add per-application secondary multi-factor authentication (MFA) for all types of users – network users, VPN users, remote access (ZTNA, SDP, PAM) users, etc. In 2021 According to CNBC, 1 in 4 workers will be working remotely and this is projected to grow in the coming years as more and more employees work remotely. Safe-T Group’s New ZoneZero® platform is being rapidly adopted by dozens of new enterprise clients eager to fix their security. With a growing portfolio of practical security solutions, Safe-T’s revenues soared by 138% this year.
SFET Revenues for the three-months ended September 30, 2021 reached a record high of $3,377,000, an increase of 137% compared to $1,426,000 reported in the three-month period ended September 30, 2020. Third quarter revenues exceeded the Company’s preliminary estimated revenues of $3.2 million. As of the latest filing SFET is debt free and had $12,947,000 in the treasury.
SFET was busy in Q3 2021; accomplishments include:
- Completed the acquisition of CyberKick, a provider of Software-as-a-Service (SaaS) security and privacy tools for consumers designed to reduce their vulnerability while they are online and prevent and defend against a wide spectrum of cyber threats;
- The completion of the development of iShield™, an advanced cybersecurity product designed to help consumers as well as small and mid-sized businesses in detecting and defending against dangerous and malicious threats during online browsing activities;
- The launch of a new enterprise data collection solution, enabling unlimited collection of online, public, web-based data aid in enterprise data analysis and decision making; and
- Safe-T was named by Quadrant Knowledge Solutions as a 2021 emerging leader as part of its SPARK Matrix™ analysis of the global Zero Trust Network Security (ZTNS) market.
SFET CEO Shachar Daniel stated:
“Momentum in our business is accelerating and through our continued commitment to advance our cybersecurity and privacy offerings with improvements such as our data collection service and more recently, our anti-ransomware technology, we intend to further capitalize on the large global growth opportunities created by both the Work-from-Home and Work-from-Anywhere paradigms. As our financial results indicate, we are building a high growth company, with high gross margins. While the company is currently investing in its growth in the short term, over the coming quarters, we believe significant continued growth in revenues will produce higher gross profits needed to support operations. Our outlook for the remainder of 2021 and into early 2022 remains bullish, and we look forward to reporting on our continued progress,” concluded Mr. Daniel.
Earlier this year SFET announced its ZoneZero solution has been successfully added to the National Aeronautics and Space Administration (NASA) Solution for Enterprise-Wide Procurement contract vehicle (SEWP-V). The company said the inclusion of Safe-T’s solutions to the SEWP vehicle was made possible by its lead distributor in North America, Philemon Security USA, through its channel partners.
Subsequent to the filing of Safe-T’s third quarter earnings results, members of SFET senior management, including SFET Chief Executive Officer and Chief Financial Officer, as well as its Chairman of the Board, completed open market stock purchases as an expression of their long-term confidence in the Company. In aggregate, executives have purchased over 180,000 shares during the trading window, between December 7 and December 13, 2021.
In December SFET reported that after successfully demonstrating superior product performance and capabilities in a series of competitive evaluation programs, SFET’s ZoneZero® ZTNA solution was successfully deployed with 3 new enterprise customers in India and South-East Asia. The deployments include multi-year service and support contracts.
On September 23, Alliance Global Partners analyst Brian Kinstlinger initiated coverage of Safe-T Group Ltd (NASDAQ:SFET) stock with a Buy rating and a price target of $2, noting that new web security solutions of the firm had seamless integration capabilities. New York-based firm Renaissance Technologies is also a shareholder in SFET with 267,785 shares.
Revenues Reached a Record High of $3.38 Million, Gross Profit Grew to $1.78 Million
HERZLIYA, Israel, Nov. 30, 2021 (GLOBE NEWSWIRE) — Safe-T Group Ltd. (Nasdaq, TASE: SFET) (“Safe-T” or the “Company”), a global provider of cyber-security and privacy solutions to consumers and enterprises, today announced record financial results for the three and nine-month periods ended September 30, 2021.
- Revenues for the three-months ended September 30, 2021 reached a record high of $3,377,000, an increase of 137% compared to $1,426,000 reported in the three-month period ended September 30, 2020. Third quarter revenues exceeded the Company’s preliminary estimated revenues of $3.2 million.
- Gross profit for the three-month period ended September 30, 2021 amounted to $1,783,000, an increase of 108% compared to $859,000 reported in the same period in 2020.
- The Company’s cash and cash equivalents and short-term investments balances at the end of the quarter were $12,947,000, down from $19,304,000 reported at the end of the second quarter primarily due to a one-time cash payment of $3,700,000 related to the acquisition of CyberKick Ltd. (“CyberKick”).
Shachar Daniel, Chief Executive Officer of Safe-T, said, “We believe that the impressive financial results achieved in the third quarter of 2021 and through the first nine months of the year, reflect the successful execution of our aggressive growth strategy focused on bringing world-class cybersecurity and privacy technology to consumers and enterprises around the world. We are especially pleased by the performance of our consumer and enterprise privacy businesses which have significantly contributed to our growth as it gains sales traction in large geographic markets including the United States and Western Europe.”
SFET’s cybersecurity and privacy products are not your typical anti-virus scanning software. The ZoneZero platform is the only available zero trust network access (ZTNA) product that can integrate with existing virtual private networks (VPNs) or replace the pre-existing infrastructure.This enables employees or contractors to work from home with or without a VPN and an in-house worker to safely and securely access the network with full protection against cyber vulnerabilities. The ZoneZero platform accomplishes this by controlling a user’s access based on their identity and/or role within the organization.
SFET’s cybersecurity and privacy products are focused on stopping threats at the “gateway” level. Typical cybersecurity software tends to address and eliminate threats once they have already infected your computer. Safe-T’s solutions focus on eliminating the threat before hackers have infected your computer with malware, phishing attempts, ransomware, etc. This allows users to be protected before they are compromised. ZoneZero, is a client-less solution providing secure access to all types of users, corporate applications, data, and services like HTTP/S, SMTP, SFTP, SSH, APIs, RDP, and legacy applications. Their technology eliminates the need to open incoming ports in the organizations’ firewalls providing the broadest data access solution available within the SDP market.