IronNet Cybersecurity Solutions
IronNet Cybersecurity Solutions IronNet Cybersecurity had their initial public offering today to great fanfare! The stock closed up over 38% and much of Wall Street was buzzing over this hot new Cyber Security firm backed by the brilliant CyberSecurity venture capital partner William Lin and his firm ForgePoint. Mr. Lin took to Twitter on September 9th to post.
“Very excited for IronNet’s IPO. ForgePoint Capital was the first investor into IronNet and IronNet was the first investment we made in 2015. A long journey to this milestone and the many more milestones ahead for IronNet.”
ForgePoint & Mr. Lin have clearly hit a home run with the IPO, but what about the rest of the market?
Should investors consider IronNet stock here?
One CyberSecurity veteran told us he is “very bullish on the opportunity” that IronNet has ahead of them. But, it “still remains to be seen if they can execute.”
This executive went on to say, “The market really took off this year in terms of realization that we have a critical infrastructure problem, that combined with Biden pushing new regulations with respect to cyber-security and Operational tech (new name for critical infrastructure) leads me to believe that they have a lot of potential runway.”
Furthermore, “The challenge that IronNet faces is common with those who transition from private to public, where the increased oversight and visibility become an inhibitor to the agility the market demands. While there is no reason to believe this would be the case with IronNet, it is something to be watched. However, given the increasing number of attacks and the dollar value at risk, it’s clear this market is ripe for exponential growth.” Just another attack which disrupts power would have huge ramifications on national security and would result in exponential growth for companies with solutions. Right now they have a handful of viable competitors. They include Dragos, Claroty & Bayshore networks. Moreover, a number of want to be players. But it’s a small group of fish in a massive ocean.”
In conclusion IronNet Cybersecurity Solutions is definitely one of a few players in an ever expanding arena. However, their losses have been consistent. As a result, they have yet to prove if they can operate their business in a profitable manner.
Nevertheless, does Wall Street care about fundamentals these days? Wall Street focuses on revenue growth and customer acquisition these days.
