Init0

Tech News That Matters

Here’s 1 Cybersecurity Stock to Buy Right Now – Motley Fool

npressfetimg-5849.png

Here’s 1 Cybersecurity Stock to Buy Right Now – Motley Fool

Global spending on cybersecurity is expected to total $1.75 trillion between 2021 and 2025. It’s no surprise — 500 company CEOs who were recently surveyed identified cyber risks as the top threat to their organizations’ growth. 

It has spurred a wave of innovation in preventative technologies like threat detection and vulnerability management, as companies search for proactive ways to protect their valuable digital assets. 

That’s why Tenable (NASDAQ:TENB) presents such a big opportunity for investors. It owns Nessus, the most deployed vulnerability management platform on the planet, and it’s just one reason you should buy the stock.

Image source: Getty Images.

An expanding threat landscape

As more of the economy moves online, companies are finding themselves facing new risks in the digital world that they’ve never had to contend with before. For public companies, it’s not just about the loss of data or control from a ransomware attack but also the reputational hit which can cause even greater long-term damage. 

Take Robinhood Markets, the app-based stock and cryptocurrency trading platform geared toward young investors. On Nov. 3, the company experienced a cybersecurity incident which exposed the email addresses of five million customers, plus the full names of two million different customers.

While the financial impact is yet to be determined, Robinhood stock is down over 20% since the breach occurred — keep in mind, it was just earlier this month! The road for companies to repair this broken trust with their customers, and the public, is long and expensive.

That’s why prevention is always better than cure. Tenable’s Zero Trust security is the type of mechanism designed to prevent data breaches, as it ensures everybody interacting with a company’s networks — even trusted people inside the organization — must be verified continuously, with risky behavior triggering immediate alerts. 

The company’s Nessus platform can also be customized and built upon to suit the specific needs of different customers, and it’s currently deployed within 30,000 organizations globally with over two million individual downloads.

Big companies are flocking to Tenable

Tenable’s financial performance is robust, and it’s being driven by its six-figure customer base — those who spend $100,000 or more with the company annually.

Metric

2016

2021*

CAGR

Number of six-figure customers

124

995

51%

Data source: Tenable. *2021 figure as of …….

Source: https://www.fool.com/investing/2021/11/23/heres-1-cybersecurity-stock-to-buy-right-now/