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Tag: Safe-T Group

  • Safe-T Group Ltd. (SFET) Rallies Premarket on Surpassing 10,000-Subscriber Milestone

    Safe-T Group Ltd. (SFET) Rallies Premarket on Surpassing 10,000-Subscriber Milestone

    Following the announcement of its new privacy solution surpassing the 10,000-subscribers milestone, Safe-T Group Ltd. (SFET) rallied premarket.

    In the previous trading session, the stock fluctuated between a high of $0.7878 and a low of $0.6910. SFET closed the session with a loss of 3.41% at $0.7220 on Monday. After the emergence of the news, the stock rose up to $0.7800 premarket at the last check. Consequently, SFET had gained 8.03% at the time of writing, in the premarket on Tuesday.

    The zero-trust access solutions provider, Safe-T Group Ltd. was founded in 1989. Currently, its 756.89K outstanding shares trade at a market capitalization of $24.03 million.

    SFET’s New Consumer Privacy Solution

    In early 2021, the company launched its new privacy solution through a phased product introduction program. The privacy product is available for Apple mobile devices through the App Store. Moreover, the product’s revenue has shown a record growth of 50% quarter over quarter since its launch. At the end of 2021, SFET’s privacy product had over 10,000 paid subscribers.

    On January 10, the company announced reaching a monthly recurring revenue milestone for the product with over 10,000 worldwide subscribers. In addition, the company plans on advancing its global marketing through the first half of 2022. Added to this, SFET will also launch the product for Android mobile devices and personal computers.

    Preliminary Revenue Guidance for Fiscal 2021

    On January 06, the company provided its preliminary revenue guidance for the fourth quarter and full fiscal year 2021.

    According to the guidance, SFET expects the fourth quarter of 2021 revenues to be approximately $3.6 million. This marks a huge increase of 170% year over year against $1.3 million of Q4 2020.

    Furthermore, the expected revenues for the full fiscal year 2021 (ended December 31) are over $10 million. This shows year-over-year growth of over 100% against $4.8 million in fiscal 2020.

    Further, the company intends to declare the fully audited financial results for 2021 on or before March 31, 2022.

    SFET’s Recent Developments

    On December 21, the company announced updates about its wholly-owned subsidiary Safe-T Data A.R Ltd. According to this, Safe-T Data has been recognized as a Representative Vendor in Gartner’s December 2021 report, which was titled “Market Guide for User Authentication”.

    Previously, SFET announced the completion of open market stock purchases by the company’s senior management, on December 16. The company’s CEO, CFO, and Chairman of the Board purchased over 180,000 shares as an expression of confidence in SFET. These shares were purchased between December 07 and December 13, 2021.

  • What Is Causing The SFET Stock To Fall Today?

    In today’s early hours trading, shares of Safe-T Group Ltd (SFET), a provider of secure access solutions and intelligent data collection, declined -3.02% to $1.45. Safe-T stock closed the previous trading session at $1.49. Prices ranged between $1.46 and $1.56 for SFET stock.

    There was a turnover of 3.22 million shares in SFET stock, which exceeded its daily average of 1.87 million shares over the past 100 days. In the last five days, SFET shares have gained 4.93%, while they gained 6.43% in the last month. SFET stock price has trended downward even after announcing an acquisition.

    SFET has acquired what?

    Safe-T specializes in providing access control solutions and intelligent data collection systems. SFET’s cloud and on-premises solutions safeguard enterprises’ most sensitive and business-critical data and prevent attacks. SFET’s zero trust philosophy is applied to all organization access use cases, from the organization into the internet, and from the internet out to the organization. From the inside or outside of the network, no one is trusted by default, which means that authentication is required for everyone accessing network resources or cloud resources.

    Safe-T announced today that it has acquired CyberKick Ltd. (CyberKick).

    • SFET anticipates closing the transaction by the end of next week, subject to certain customary closing conditions.
    • A closing is also contingent upon obtaining all required approvals and delivering all documents.
    • SFET will fund the cash consideration from internal cash resources.
    • With its SaaS (Software-as-a-Service), CyberKick provides users with security and privacy tools that help them to be more resilient online and less vulnerable to threats.
    • In addition to protecting users from a plethora of cyber threats, CyberKick’s SaaS also gives them the ability to manage access to their accounts and sensitive information.
    • Through the acquisition, SFET will expand its cybersecurity platform portfolio for private users and complement its secure access service for organizations.
    • The acquired business generated revenues of approximately $4.2 million in 2020, according to unaudited results provided to SFET.
    • With the acquisition of CyberKick, SFET will have access to CyberKick’s talented entrepreneurs.
    • Achieving this milestone will help SFET have a stronger presence in the cybersecurity market, providing unique, competitive cyber security solutions.
    • It will contribute to SFET’s revenue stream and enrich its innovative technology offerings.

    SFET’s Growth strategy:

    Safe-T (SFET) will have additional ways to reach customers with the well-established online infrastructure and expertise of CyberKick. The new acquisition will be a foundational part of SFET’s strategy to become a leader in the privacy and security market, expanding its presence and reaching new segments of potential clients and customers around the world.