We recently published a list of the 12 best Middle East and African stocks to buy now. In this article we are going to look at where CyberArk Software Ltd. (NASDAQ:CYBR) compares to other top Middle Eastern and African stocks to buy right now.
Global financial giants are increasingly turning their attention to the Middle East, setting up shop in cities such as Dubai, Abu Dhabi and Riyadh. With attractive incentives such as low taxes and robust regulatory frameworks, the region has become a magnet for investment banks, hedge funds, asset managers, family offices and law firms. Major players such as JPMorgan, Goldman Sachs and Morgan Stanley have strengthened their presence in the UAE and Saudi Arabia.
Asset managers are also joining this trend. BlackRock, the world’s largest asset manager, has maintained a strong position in Saudi Arabia since opening its office in Riyadh in 2019. Meanwhile, Wellington Management and Fiera Capital made their regional debuts in Dubai and Abu Dhabi respectively, underscoring the region’s growing appeal on a global scale. asset managers. These companies are attracted by the opportunities in the Gulf’s booming financial sector and the region’s commitment to diversifying beyond oil revenues.
According to the Henley Private Wealth Migration Report, the United Arab Emirates (UAE) will remain the world’s top destination for wealthy individuals for the third year in a row, with a projected net inflow of 6,700 millionaires by the end of 2024. This figure significantly exceeds the United States , which are in second place with an expected net inflow of 3,800 millionaires. The UAE’s appeal lies in its favorable tax policies, strategic geographic location, world-class infrastructure and attractive long-term residency programs such as the ‘golden visa’.
Africa is also an attractive place for investment, as evidenced by the resounding success of the Africa Investment Forum 2024, which concluded on December 6 in Rabat, Morocco. The event secured an impressive $29.2 billion in new investor commitments after three days of intense boardroom discussions. This year’s Forum witnessed a record attendance of 2,300 investors and delegates from 83 countries, an increase of 60% over the previous year. In 41 investment boardrooms, participants took part in discussions in sectors such as transport, power, energy, agribusiness, industry, mining, pharmaceuticals, private equity, tourism, urban infrastructure and water management.
A notable success of the Forum was the Nigerian Special Agro-Processing Zone project, which aimed to raise US$975 million but secured US$4.8 billion in investor interests. Similarly, projects from Morocco and the Democratic Republic of Congo attracted investments that exceeded initial targets. The Forum’s founding members, including Africa50, Afreximbank, the Development Bank of Southern Africa, the Africa Finance Corporation and the Islamic Development Bank, reaffirmed their commitment to strengthening cooperation and driving transformative investments across the continent.
As global financial powerhouses continue to deepen their roots in the Middle East and investors increasingly turn their attention to Africa’s vast potential, both regions are emerging as crucial nodes in the evolving global economic landscape.
A data center with a repetitive design of computer servers, demonstrating the company’s efficient and secure IT infrastructure.
To compile our list of the twelve best Middle East and Africa stocks to buy right now, we used stock screeners from Finviz and Yahoo to create an initial list of the thirty largest companies in the Middle East East and Africa. We then used Insider Monkey’s Hedge Fund Database to rank twelve stocks based on the largest number of hedge fund holders from the third quarter of 2024. The list is sorted in ascending order of hedge fund sentiment.
Why do we care what hedge funds do? The reason is simple: our research shows that we can outperform the market by imitating the best stock picks from the best hedge funds. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, beating the benchmark by 150 percentage points (see more details here).
Number of hedge fund investors: 51
CyberArk Software Ltd. (NASDAQ:CYBR) is an Israeli cybersecurity company specializing in identity security solutions. The company helps organizations protect sensitive data and prevent cyber threats. CyberArk Software Ltd. (NASDAQ:CYBR) earns revenue through software licenses, subscriptions and professional services. The company’s customers include Fortune 500 companies and government agencies.
CyberArk Software Ltd. (NASDAQ:CYBR) aims to continue its growth trajectory by expanding its platform capabilities and market reach. The company invests heavily in research and development to stay ahead of emerging threats and improve its existing solutions. A key area of focus is the integration of machine learning and artificial intelligence to improve threat detection and response times. By utilizing these advanced technologies, CyberArk Software Ltd. (NASDAQ:CYBR) to provide customers with even more robust security measures that can adapt to evolving attack vectors.
CyberArk Software Ltd.’s (NASDAQ:CYBR) recent acquisition of Venafi, a leader in machine identity management, underscores its commitment to expanding its portfolio and meeting the growing need for machine identity security. This acquisition not only expands the company’s offerings, but also positions the company as a one-stop shop for both human and machine identity security.
In short, CYBR is in 2nd place on our list of the best Middle East and Africa stocks to buy now. While we recognize CYBR’s growth potential, our belief lies in the belief that AI stocks hold greater promise for delivering higher returns in a shorter time frame. If you’re looking for an AI stock that’s more promising than CYBR but trades at less than five times earnings, check out our report on the cheapest AI stocks.
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Disclosure: None. This article was originally published on Insider monkey.
