The number of global ransomware attacks rose more than 150% last year, as per cybersecurity experts’ estimations, and is still growing in 2021, which is why cybersecurity companies are catching the eye of potential investors.
Columnist Anna Kranj | Nordic IT Security, June 28, 2021
Featured, Cyber Security, News
Ransomware strikes have escalated over the past year due to a number of factors, some of them being the rise of hard-to-trace digital currency transactions and shifting to work from home. These attacks are so damaging that they spark discharges and permanently shut down entire companies.
The rise of cyberattacks is making it necessary for organizations to focus on amplifying their cybersecurity measures. To improve security long term, businesses must ensure they have strong passwords, access to critical systems, resetting passwords and electronic authentication methods. Hence, let’s take a look at companies that stand to benefit from ever-growing cybersecurity threats, listed in alphabetical order:
1. CACI International Inc.
CACI International provides crucial software services to numerous branches of the U.S. federal government. These include, but are not limited to the defense, homeland security, intelligence and healthcare divisions.
CACI reported solid figures in its recent fiscal quarter. Overall, the company reported earnings of $12.61 per share on revenue of $5.72 billion for the quarter.
Cisco develops, manufactures and sells networking hardware, software, telecommunications equipment and other high-technology services and products. It specializes in specific tech markets, such as the Internet of Things (IoT), domain security and energy management.
Cisco is experienced at handling even the most complex security scenarios — for example, they prioritized security in their network offering for the Rio Olympics. Experts expect Cisco’s revenue and earnings to grow 5% and 6%, respectively, as the pandemic passes.
Cloudflare protects and accelerates any Internet application online without adding hardware, installing software or changing a line of code. It was recognized by the World Economic Forum as a Technology Pioneer and named the Most Innovative Network & Internet Technology Company for two years running by the Wall Street Journal.
Cloudflare is listed as one of the cybersecurity stocks with the most momentum and the highest total return in the past year.
CrowdStrike is the leader in next-generation endpoint protection, threat intelligence and response services. CrowdStrike’s core technology, the Falcon platform, stops breaches by preventing and responding to all types of attacks – both malware and malware-free.
CrowdStrike Falcon is currently established in more than 170 countries. CrowdStrike’s revenue rose 82% to $874, and it expects 51% growth this year.
FireEye provides cybersecurity solutions and services, and it offers the Helix Security Platform, Mandiant security instrumentation, as well as endpoint, network and email security products.
For its fiscal first quarter, FireEye’s net sales were $1.77 billion, representing a 7.1% increase from the prior-year quarter. The company’s net income for the quarter was $244 million.
ForgeRock is a multinational identity and access management software company headquartered in San Francisco, U.S.A. with offices all over the world. ForgeRock’s comprehensive solutions allow you to grow revenue, manage risks, increase workforce productivity, and reduce costs.
ForgeRock had more than $100 million in annual sales and had grown its recurring revenue by 75 percent over the past year.
Fortinet secures the largest enterprise, service provider, and government organizations around the world. Fortinet is the only security leader to develop and build custom security processing unit (SPU) technology to offer the best performance and cost value in the industry.
In its most recent quarter, the company saw 23% year over year revenue growth to $710.3 million.
8. Okta Inc.
Okta primarily offers cloud software that enables secure user authentication features on apps. Okta’s services provide simple and secure digital access to customers and organizations alike.
Its clientele consists of over 10,650 organizations across various industries, with some notable names like JetBlue, Nordstrom, T-Mobile and Twilio. In Okta’s first-quarter fiscal report last week, the company raked in total revenue of over $251 million.
9. Palo Alto Networks
Palo Alto Networks offers an enterprise cybersecurity platform which provides network security, cloud security, endpoint protection and various cloud-delivered security services. Palo Alto provides three main security platforms: Strata, Cortex and Prisma.
Palo Alto serves over 70,000 organizations in over 150 countries, including 85 of the Fortune 100. Palo Alto expects its revenue to rise to 24% and for its adjusted earnings to increase to 23%.
10. Zscaler, Inc.
Zscaler offers fast and secure policy-based access that connects the right user to the right service or application. Zscaler services are 100% cloud-delivered and offer the enhanced security and improved user experience that traditional appliances or hybrid solutions are unable to match.
Zscaler is responsible for securing more than 400 of the Forbes Global 2000 companies. Used in more than 185 countries, Zscaler operates the world’s largest cloud security platform.