As More and More of Our Daily Lives Go Online, Nefarious Actors Have More Opportunities to Infiltrate Our Systems and Threaten our Financial and Digital Safety. Protect Yourself and Your Portfolio With These Three Top Cybersecurity Stocks
News of cyberattacks, and the cascade of problems that result from them, are seemingly an everyday occurrence. Indeed, an estimated 47% of Americans were affected by financial identity theft in 2020, with an estimated $712 billion in total losses.
As cybersecurity becomes more of an issue, there will be investment opportunities in companies that stand to lead the industry. Below are three top cybersecurity stocks that have the potential to capitalize on this growing trend.
Rapid7 is a cybersecurity company that provides cloud-based, analytics-driven platforms for cybersecurity professionals. These platforms include:
- InsightDR: Incident detection and response solution
- InsightCloudSec: Posture management and workload protection
- InsightVM: Collect vulnerability data, prioritize risk and automate solutions
- InsightAppSec: Web application security analysis
- InsightConnect: Security orchestration and automation response solutions
The company has clients across a wide range of industries, including technology, energy and finance; these clients are spread across the world, including North and South America, Europe, Africa and Asia.
2021 revenues grew 30% YoY to $535 million, while their customer count grew 18%.
Shares of Rapid7 are currently trading at $114.04 per share, up +1.44% on the day. YTD RPD stock is down -3.15%.
Located in the heart of Silicon Valley, Palo Alto Networks offers a range of cybersecurity products, including firewall software, subscription services for threat prevention, malware and persistent threat services, among others. The company also provides a wide range of cybersecurity analytical tools and consulting services for large enterprises.
Q2 2022 revenues grew 30% YoY to $1.3 billion, and the company is projecting Q3 2022 revenues to come in at $1.35 billion; fiscal year 2022 revenues are projected to reach $5.45 billion, a 28% increase from fiscal year 2021.
Shares of Palo Alto Networks are currently changing hands at $626.22 per share, up +2.47% on the day. YTD PANW stock is up +15.07%.
If you are reading this article on a PC, there’s a good chance that you have a NortonLifeLock product installed; most likely, it’s their antivirus software, which comes standard on many new computers. This subscription-based antivirus product is responsible for the majority of NortonLifeLock’s revenues.
In August 2021, NortonLifeLock announced that it would purchase Avast, a competing antivirus purveyor. With Avast’s focus on privacy and NortonLifeLock’s focus on identity protection, the combined company will offer an industry-leading suite of products designed for the consumer.
NortonLifeLock CEO commented at the time, stating:
“With this combination, we can strengthen our cyber safety platform and make it available to more than 500 million users. We will also have the ability to accelerate innovation further to transform cyber safety.”
Shares of NortonLifeLock are currently trading at $26.93 per share, down -0.4% on the day. YTD NLOK stock is up +2.28%.
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Disclaimer: Wealthy VC holds does not hold a position in any of the stocks mentioned in this article.