The security infrastructure enabling the AI revolution
Technology
Akamai and CyberArk are showing strong momentum in developer interest, according to AnteData’s coding activity data. Repositories related to the two companies’ software platforms are frequently forked and starred - clear signals of rising popularity and adoption among developers. This surge aligns with growing Google search interest and reflects their central role in securing the infrastructure that powers the AI boom. In general, AnteData’s coding activity shows that security companies focused on protecting communication layers - like AKAM, Cloudflare and CYBR - are outperforming those focused purely on asset protection, such as Tenable or CrowdStrike. Evidently, in this new wave of Machine-to-Machine communication, speed, security and connectivity matter more than ever.
Edition: 217
- 08 August, 2025
IT Survey: Robust spend, GenAI boom, staffing cuts
Technology
Rosenblatt’s July survey of 100+ senior IT managers reveals a surprisingly robust IT spending outlook, with two-thirds of budgets being revised higher since the start of 2025, despite macro concerns. GenAI is the top investment priority, with 60% increasing spend and nearly 70% expecting a material organisational impact. Over 75% expect developer staffing cuts of 10%+. Cybersecurity remains a defensive spending priority with investment flowing towards securing modern, distributed environments (Cloud, SASE/SSE) and data itself - benefitting CrowdStrike, CyberArk, Palo Alto, Zscaler and Fortinet. AWS fared much better, ranking first in "cloud service provider best positioned in AI", with 28% (vs. 16% in Dec 24), surpassing Google and Microsoft. Infrastructure names like Snowflake, Rubrik and MongoDB are also well-positioned amid data estate modernisation.
Edition: 216
- 25 July, 2025
Technology
Channel feedback continues to be very positive - identity remains a priority spend and CYBR continues to execute well. SPR has not picked up any hard evidence of customers leaving BeyondTrust over the Treasury Dept breach of compromised API keys. Meanwhile, more channels are confirming increasing instances of Venafi deals in their sales pipelines. This is a change from a quarter ago, when they found interest but less evidence of real sales activity. CYBR’s Zilla acquisition should position the group well to expand into governance and compete with SailPoint and Okta’s OIG solution.
Edition: 209
- 18 April, 2025
Cybersecurity: Potential SEC investigations
Technology
Last October the SEC charged SolarWinds and its chief information security officer with fraud. This report looks at other companies in the cybersecurity industry that may have similar risks to an SEC investigation. Based on Veritas' Freedom of Information Act work, they received confirmations from the SEC pertaining to 15 publicly-listed cybersecurity stocks. Out of the 15 issuers confirmed, 2 attracted SEC scrutiny. Stocks mentioned: Palo Alto, CrowdStrike, Fortinet, Zscaler, Cloudflare, Check Point, Okta, Gen Digital, CyberArk, SentinelOne, Qualys, Tenable, Varonis, Rapid7 and SecureWorks.
Edition: 186
- 17 May, 2024
2024 Enterprise Tech Demand: Technology Spending Intentions Survey
ETR highlights the vendors best and worst positioned for the year ahead based on spending intentions data collected from their Jan 24 TSIS, which saw participation from 1766 IT Decision-Makers, including 308 Fortune 500 and 423 Global 2000 organisations. Respondents are, on average, more optimistic on 2024 spending than 3 months ago, with full year spend anticipated to grow +4.3% vs. 2023. However, Q1 is slightly tempered, now sitting at +2.4% y/y growth. Vendor outlook upgrades include Gitlab (has seen a sharp rebound in its Net Score), SentinelOne, Elastic and IBM. While there are downgrades for Datadog (Net Score hits an all-time low), CyberArk and HashiCorp.
Edition: 178
- 26 January, 2024
Technology
Feedback from channel contacts on the company's core PAM solution continues to be strong, while CYBR is also the standout beneficiary of the MGM breach. Pipeline generation is healthy. Sales Pulse has heard examples of reps “sitting on deals” to push into the next quarter… always a good sign. Some resellers they talked to shared that CYBR encouraged them to get their SE’s trained and certified on the new CYBR Workforce and Identity offerings, but so far these resellers, have not seen much professional services business based on this investment. Elsewhere, CrowdStrike, Palo Alto, Zscaler and Okta all look solid, while Fortinet and Tenable have the softest channel sentiment.
Edition: 171
- 13 October, 2023
Advanced AI: Sink or swim time for cybersecurity vendors
Technology
How are AI advancements and hype affecting the cybersecurity industry? What are data security vendors doing with AI/ML and cybersecurity automation, and can they protect their market from the major cloud operators with their investments in AI-driven security for their own platforms? During the interviews conducted by Blueshift, industry sources were also asked how they would play the sector near to mid-term and out over time. Companies discussed include Amazon, CrowdStrike, Cisco, CyberArk, Fortinet, Google, IBM, Microsoft, Okta, Palo Alto and Zscaler.
Edition: 158
- 14 April, 2023
IT Spending & Cyber Security
Technology
As always, SPR will be tracking the trajectory of IT spending, changing priorities and competitive dynamics for the segments and vendors they follow. Key questions / themes for 2023 include: IT Spending: 1) Which vendors are seeing more than anticipated pressure from reduction in seats and end user efforts to contain costs? 2) Vendors benefitting from the rapid growth in DevOps / DevSecOps. Cyber Security: 3) Which vendors are executing well with XDR solutions, capturing share and potentially disrupting existing vendors? 4) Maturing of the End Point Protection market. 5) Growth for Zero Trust Network Architectures. Additional Themes: 6) Vendors successfully leveraging AI / ML. 7) M&A speculation.
Positive views include: Palo Alto, Cyberark, Five9, Snowflake, Ciena, Datadog. Cautious: ServiceNow, Salesforce, Tenable.
Edition: 151
- 06 January, 2023
Technology
Another bullish quarter - demand continues to be exceptionally strong and subscription revenue is growing faster than guided driven by the company's SaaS offerings. The ongoing digital transformation, attacker innovation, elevated threat levels, an expanding attack surface, will ensure elevated security spending in 2022. Identity remains the central pillar around which enterprises are re-architecting their security strategy and Srini Nandury believes CYBR will be one of the main beneficiaries. Srini's target price of $225 (50% upside) translates to 13x EV/C2023 sales of ~$673m.
Edition: 129
- 18 February, 2022