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Globe and Mail
12 hours ago
- Business
- Globe and Mail
Will the Traction in SASE and Zero Trust Keep Driving Cloudflare?
Cloudflare NET signed its longest secure access service edge (SASE) contract in the first quarter of 2025 and has been gaining traction constantly as enterprises modernize and simplify their network security and connectivity. Cloudflare combines its Zero Trust security products like Cloudflare Gateway, remote browser isolation and cloud access security broker with its Network Services like Magic WAN, Magic Transit and Magic Firewall, Cloudflare Network Interconnect and spectrum to provide an end-to-end cloud-based secured SASE solution that simplifies the adoption process for its clients, helping NET in winning larger deals. Cloudflare has also partnered with industry giants like TD SYNNEX to expand the geographical reach of its managed security services across Latin America, including Zero Trust and SASE solutions, to support MSSP growth in the region. In the Zero Trust space, NET has been witnessing tremendous customer growth for its core application services portfolio, Zero Trust solutions and network services like Magic Transit in Cloudflare One. NET has made Zero Trust integrations with companies like Atlassian, Microsoft and Sumo Logic, to enable small, medium and large-sized businesses to secure reliable tools and applications with enterprise-ready Zero Trust security. This strategy has expanded the reach of the Cloudflare One Zero Trust platform to more than 10,000 companies worldwide. These factors have helped Cloudflare to achieve 250,819 paying customers at the end of the first quarter, up 27% year over year. NET added 30 new customers during the quarter who contributed more than $100,000 in annual revenues. The total count of such customers reached 3,527 at the end of the quarter. How Competitors Fare Against Cloudflare Cloudflare faces stiff competition from Palo Alto Networks PANW and Zscaler ZS in SASE and Zero Trust offerings. Palo Alto Networks' SASE platform has an active customer user base of more than 6,000. Palo Alto Networks achieved 36% year-over-year growth in SASE ARR and 16% growth in $1 million-plus deals in the third quarter of fiscal 2025, making it a dominant SASE player. Zscaler, on the other hand, leads the Zero Trust space and also offers SASE solutions. The company offers Zero Trust Network Access solutions through Zscaler Private Access, which enables secure application access without VPN. ZS is now moving toward the Zero Trust Everywhere model, which secures cloud, endpoint and network. Zscaler also provides a full SASE platform by combining identity access, private access and cloud protection. Since the competition in the SASE and Zero Trust space is high, this remains an investor's concern for Cloudflare's growth. However, since the SASE market is witnessing a CAGR of 23.6% and the Zero Trust Market is seeing a CAGR of 16.7%, Cloudflare has enough headroom to expand its business. Cloudflare's Price Performance, Valuation and Estimates Shares of NET have surged 68.6% year to date compared with the Zacks Internet - Software industry's growth of 13%. From a valuation standpoint, NET trades at a forward price-to-sales ratio of 26.77X, higher than the industry's average of 5.68X. The Zacks Consensus Estimate for NET's fiscal 2025 and 2026 earnings implies year-over-year growth of 5.33% and 31.64%, respectively. The estimates for fiscal 2025 earnings have been revised downward in the past 60 days, and the 2026 earnings have been revised downward in the past 30 days. NET currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Palo Alto Networks, Inc. (PANW): Free Stock Analysis Report Zscaler, Inc. (ZS): Free Stock Analysis Report Cloudflare, Inc. (NET): Free Stock Analysis Report
Yahoo
01-05-2025
- Business
- Yahoo
Avalara appoints new CFO and chief legal officer
Avalara, a provider of cloud-based tax compliance automation, has announced two senior executive appointments to bolster its leadership team. Sydney Carey has been named CFO, while Karyn Smith has been appointed chief legal officer. Both executives will report to Avalara's president and join the company's executive leadership team. These appointments come as Avalara looks to meet the demand for its AI-powered tax compliance software solutions. In the new role, Carey will lead Avalara's worldwide Finance & Accounting team, focusing on modernising finance and accounting processes. With more than two decades of experience, Carey most recently served as CFO at Talkdesk. She has held the CFO position at several software-as-a-service (SaaS) companies, including Talkdesk, Sumo Logic, Zscaler, and MongoDB. At Sumo Logic, she played a key role in the company's initial public offering (IPO). Carey also has a history with TIBCO Software, where she worked for ten years, culminating in her role as CFO during the company's time as a publicly listed entity. At Avalara, Smith will lead the legal team, overseeing all legal matters related to the company's global operations and strategic business initiatives. Smith brings over 30 years of experience to her role. Smith's background includes more than seven years at Twilio, where she started as the company's first lawyer and played a pivotal role in managing a global team responsible for legal, government affairs, regulatory compliance, privacy, and ethics. Avalara president Ross Tennenbaum said:"Sydney and Karyn bring deep finance, legal and operational expertise to Avalara that will help us continue to grow profitability while protecting our proprietary offerings. 'Avalara aspires to be part of every transaction in the world, and we look forward to having these two renowned leaders in technology as part of our team.' "Avalara appoints new CFO and chief legal officer" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
