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Wall Street Analysts See Long-Term Potential in These 3 Cybersecurity Stocks – Yahoo Finance

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Wall Street Analysts See Long-Term Potential in These 3 Cybersecurity Stocks – Yahoo Finance

Our digital age has brought with it a host of new issues, matters that our grandparents could never have dreamed about just a century ago. One of the more serious issues involved in this is online and digital security. Cyber attacks can threaten our bank accounts, our meta data, our social profiles – or even governmental databases and national security. While this may sound like the stuff of nightmares, it has also bread opportunity for investors – as cybersecurity companies are in demand, and their stocks are set to gain as the cyber threats mount.

In one recent example of the damage malicious hackers can do, the online trading giant Robinhood admitted that it suffered a data breach last week with more than 2 million customer names and 5 million customer emails compromised.

Looking at the situation from Wedbush, analyst Daniel Ives noted, “With the threat landscape growing by the day the backdrop is very bullish for the cyber security sector, as in particular we are seeing strong deal flow around identity threat detection, privileged access management (PAM), endpoint/ vulnerability security, and a discernible shift to zero trust architecture all gaining steam in the field.”

So let’s take a look at cybersecurity. Plenty of Wall Street’s stock watchers are picking out cybersecurity moves for investors to tap into, and we’ve used the TipRanks platform to call up details on three of them. These are all Strong Buy stocks, with considerable upside potential for the coming year – let’s find out what else leads the analysts to recommend them.

Akamai Technologies (AKAM)

We’ll start with Akamai, a leader in content deliver network services and cloud security. Akamai provides both intranet and internet security options through its Intelligent Edge platform. The company counts major names among its business customer base, including the CBC, the Washington Post, Honda, Roblox, Lufthansa, and the AP. In all, more than half of the Fortune 500 companies use Akamai’s services, and the company saw $3.2 billion in revenue during the ‘corona year’ of 2020.

The company’s revenues have been climbing this year. The cumulative top line for 1H21 came in 8.7% above the 1H20 results, and the 3Q21 revenues of $860.3 million were up 8.5% yoy. The gains were driven by the company’s Security Technology Group, which showed a 26% yoy gain in posting revenues of $335 million. Revenue from the Edge Technology Group was flat yoy, at $526 million. The company’s EPS has shown a trend upwards over the past two years, and the Q3 number, …….

Source: https://finance.yahoo.com/news/3-cybersecurity-stocks-set-benefit-143422388.html

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