By 2029, it is anticipated that the worldwide cyber security market would be worth $376.32 billion. The e-commerce market is the main driver of this expansion. According to research, e-commerce businesses are putting more of an emphasis on integrating network security solutions into their IT and electronic security systems. A remote work-related data breach can cost up to $137,000 on average. Personal data breaches affecting up to 500,000 people occurred, and video conferencing feeds were taken and sold on the dark web. The new attacks use a type of machine learning that changes based on its surroundings. The US government’s decision to increase IT and security investment by $1.5 billion in 2021 and $4.4 billion in 2022 is anticipated to help cyber security stocks. The invasion by Russia and the hostilities between the USA and China are also expected to boost the value of stocks in the cyber security industry.
Insider Monkey highlighted the 12 best cybersecurity stocks to buy now. Boston serves as the home base for the American corporation Rapid7, Inc. The business offers cyber security remedies. It benefits the manufacturing, media, retail, education, real estate, transportation, government, and professional services sectors as well as the technology, energy, financial services, healthcare, and healthcare industries. Software company Varonis Systems, Inc. offers a security software package to monitor, view, analyze, and safeguard unstructured data. According to the business’s Q2 2022 earnings releases, ARR increased by 30% YoY to $426.3 million. EPS for Qualys, Inc. came in at $0.89, up 12% from the previous year. The $119.9 million in income came in $2.37 million over budget. Daniel Ives, a Wedbush analyst, reiterated an Outperform rating for Qualys. In its Q2 report, CyberArk Software Ltd. disclosed a loss per share of $0.27. ARR for the corporation was $465 million, up 48% from the $315 million ARR reported for the same period in 2021. On August 4, NortonLifeLock Inc. published its FQ1 2023 report. The U.K. Competitions and Market Authority gave the company’s acquisition of Avast plc conditional approval. Since 1993, the company has made 20 acquisitions. For more details, click 12 Best Cybersecurity Stocks To Buy Now.
