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cybersecurity

IPO: Rubrik - Last Line Of Defense (Pt.1)

IPO: Rubrik - Last Line Of Defense (Pt.1)

Summary * Rubrik's IPO marks the first cybersecurity vendor to go public in two years. * The way Rubrik approaches cybersecurity, while not a game-changer, is a much needed layer of defense that promises to prevent ransomware attacks on its customers. * Rubrik has become a differentiated category definer of the burgeoning data security market. We review how significant this market could be and Rubrik's future role in it. * In Part 1 we discuss why existing tools are failing to stop ransomwa

25 min read 01 May 2024

Recap: Palo Alto Networks - SASE, SASO, & Beyond

24 min read 09 Apr 2024

Recap: Palo Alto Networks - SASE, SASO, & Beyond

Summary * We did say we would pause from publishing more network security content for a while, and we do have alternative content on the way. Though, this is a free article we have published elsewhere. It serves as a recap to our previous Palo Alto Networks content and we think

Updates: PANW 2Q24 - The New Platformization Play And Its Impact On Competitors

28 min read 28 Feb 2024

Updates: PANW 2Q24 - The New Platformization Play And Its Impact On Competitors

Summary * Following the 2Q24 call, PANW gapped down ~26%. Unlike other gap downs in the past, this was driven by management's radically new strategy as opposed to an earnings miss. * Contrary to what the market has priced-in, the new platformization strategy is very likely to put huge

CSCO + SPLK - A Financial Engineering Driven Deal (Pt.3)

13 min read 21 Nov 2023

CSCO + SPLK - A Financial Engineering Driven Deal (Pt.3)

Summary * In Part 3 and the final part, we navigate the competitive landscape following the CSCO & SPLK deal. * We discuss the observability space, security-focused data stacks, and the SecOps market, and point out key players to watch. * Companies discussed include SPLK, DDOG, DT, NEWR, SNOW, PANW, CRWD, S,

Updates: FTNT 3Q23 - Is The Panic Justified?

22 min read 10 Nov 2023

Updates: FTNT 3Q23 - Is The Panic Justified?

Summary * The slowdown continues but FTNT still outperforms industry peers. We don't see FTNT's competitiveness in decline, and expect the company to gain further market share over the long-term. * After the expectation reset, FTNT's risk-reward looks way more favourable. Most of the

CSCO + SPLK - A Financial Engineering Driven Deal (Pt.2)

16 min read 02 Nov 2023

CSCO + SPLK - A Financial Engineering Driven Deal (Pt.2)

Summary * In Part 2 we discuss the implications for arbitrageurs and CSCO investors. * We scrutinize CSCO's strategic rationale for acquiring SPLK for its data and AI. * We also review CSCO's rationale for acquiring SPLK as it relates to EDR and observability. * Lastly, we include some scenario-