Cyber security IPOs

[Portugal]

Cybersecurity Stocks & IPOs: Mid‑2025 Deep Dive

By Portugal, 24 July 2025

"Cyber threats are no longer an IT problem – they’re a board‑level risk." – IBM Security report, 2025

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1. Market Performance YTD

• The Nasdaq CTA Cybersecurity Index (NQCYBR) is up ~18% YTD, beating the S&P 500’s ~12%.
• Leaders: CrowdStrike (+42%), Palo Alto Networks (+37%), Zscaler (+30%).
• Laggards: Okta (‑8%) after guidance cut.

2. Fresh IPO Activity

• SailPoint Technologies re‑entered public markets on 11 Feb 2025, aiming for a $12.6 bn valuation. The company priced 38 m shares at $34‑$38 according to Reuters (see source). Early demand suggests the deal could be upsized.
• Wiz confidentially filed with the SEC in June; bankers target a valuation north of $20 bn, which would make it the largest pure‑play cyber IPO ever.
• Arctic Wolf revived its 2023 filing and is expected to launch in Q3 2025 at ~$6 bn.
• Snyk is interviewing underwriters for a possible Q4 listing after hitting $1.8 bn ARR.

3. Post‑IPO Trading Snapshot

Company	Ticker	IPO Date	Issue Price	Current Price	% Change
Rubrik	RBRK	Apr‑2025	37	45	+21%
SailPoint	SAIL	Feb‑2025	36 (mid‑range est.)	—	N/A

4. M&A Tailwinds
Palo Alto Networks continues to roll‑up smaller vendors, announcing three tuck‑in deals worth $1 bn in 2025 alone. Consolidation keeps valuations firm and provides exit optionality for late‑stage start‑ups.

5. ETF Flows
The First Trust NASDAQ CEA Cybersecurity ETF (CIBR) has attracted $1.2 bn of net inflows YTD, signalling institutional appetite for the theme.

6. What Wall Street Is Saying
Jim Cramer told CNBC on 21 July 2025 that investors should "buy the dip in CrowdStrike and Palo Alto" after Microsoft’s cloud breach (see source). He argues that every attack is "a commercial" for the sector.

7. Key Risks

1. Valuation compression if Fed tightening resumes.
2. Slower enterprise spending could hit billings growth.
3. IPO window could slam shut if volatility spikes.

8. My Take
I remain overweight cybersecurity. I plan to participate in the SailPoint IPO and add to CIBR on weakness. For speculative exposure, I’m watching Wiz’s roadshow closely.

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Sources

• Reuters – "Cybersecurity firm SailPoint sets sights on $12.6 billion valuation in US IPO" (11 Feb 2025): Link
• CNBC – "Jim Cramer says buy these 2 cybersecurity stocks in the wake of Microsoft’s attack" (21 Jul 2025): Link

Disclosure: This post is for educational purposes only and is not investment advice.

 

[Portugal]

Cyber Security IPOs: SentinelOne vs SailPoint — 2025 Showdown​

Market Snapshot
The cybersecurity sector remains one of Wall Street’s fastest‑growing arenas, driven by AI‑powered threats, identity governance mandates, and the unrelenting shift to cloud. Two names dominate the 2025 conversation: endpoint‑focused SentinelOne (NYSE: S) and identity‑centric SailPoint Technologies (NYSE: SAILO). This article dissects their latest fundamentals, valuation metrics, and IPO momentum to help investors decide where to deploy capital.

SentinelOne: Momentum & Macro Headwinds

"SentinelOne trimmed its annual revenue forecast, sending shares down nearly 14% in extended trading."

(Reuters, 28‑May‑2025)

Key points:

• FY‑25 revenue guidance now $740‑$755 M vs. $770 M prior.
• Gross margin still above 70%, reflecting pricing power in EDR.
• Partnership with Wiz expands cloud workload protection footprint.

SailPoint: Identity Security Resurgence

"Brokerages initiated SailPoint coverage with bullish views but warned of heightened competition."

(Reuters, 10‑Mar‑2025)

Key points:

• Returned to public markets in Feb‑25 via $1.4 B IPO after Thoma Bravo exit.
• Analysts project 25% CAGR as regulatory tailwinds (NIS2, DORA) boost demand.
• Expanding SaaS ARR above 60% of total revenue, improving visibility.

Head‑to‑Head Comparison

Metric	SentinelOne	SailPoint
Market Cap	$7.8 B	$5.1 B
YoY Revenue Growth	42%	31%
Rule of 40 Score	54	45
Cash / Debt	Net Cash	Net Cash

SEO Takeaways & Keywords
Investors searching for "SentinelOne stock analysis," "SailPoint IPO performance," "best cybersecurity stocks 2025," or "identity security investment" will find both companies at the epicenter of digital defense. While SentinelOne offers AI‑driven endpoint dominance, SailPoint provides compliance‑ready identity governance. Portfolio diversification across both niches could hedge macro uncertainty.

Disclosure: The author holds no position in S or SAILO at the time of writing. This content is for informational purposes only and does not constitute investment advice.

Sources:

• Reuters – SentinelOne cuts annual revenue forecast, shares fall (summary: SentinelOne lowered FY‑25 outlook amid cautious IT spending.)
• Reuters – Wall St brokerages start SailPoint coverage with bullish view (summary: SailPoint’s IPO received positive analyst coverage despite competition concerns.)