The gap created by manual inspections in software supply chains, cloud infrastructure, hybrid clouds, and machine endpoints will be filled by cybersecurity tech stacks. According to forecasts, cybersecurity companies’ sales and adoption of AI would increase from $10.5 billion in 2020 to $46.3 billion in 2026. The Biden administration encouraged states and local governments to apply for cybersecurity awards worth $1 billion over four years. Hackers frequently attack businesses, gas pipelines, schools, hospitals, and other targets. Government regulations now in force place a “substantial compliance burden” on cybersecurity vendors.
Insider Monkey highlights the 13 best cybersecurity stocks to buy now. On August 30, a $5.71 billion blanket purchase agreement for Enterprise Information Technology as a Service Wave 1 was granted to CACI International Inc. For the Wave 1 10-year enterprise IT as a service contract, the company outbid three other companies. In the second quarter of 2022, Qualys, Inc. outperformed top and bottom line expectations for EPS and sales. Compared to a consensus estimate of $485.18 million, the full-year 2022 revenue guide was increased to $488 million–$489.5 million. One of the leading companies in cybersecurity is SentinelOne, Inc. The company exceeded Q2 forecasts and increased its expectation for FY 2022 sales growth to 103% from 98%. Having generated net new yearly recurring revenue of up to $100 million, the company claimed “strong” Q2 earnings. Software-based security solutions and services are offered in the United States, Europe, the Middle East, Africa, and other countries by CyberArk Software Ltd. T. Michael Walkley, an analyst with Canaccord, began covering CyberArk Software with a Buy rating and a $187 price target. Israeli company Check Point Software Technologies Ltd. creates, distributes, and supports a variety of IT security-related goods and services globally. For the second quarter of 2022, the corporation recently beat top and bottom line financial projections. For more details, click 13 Best Cybersecurity Stocks To Buy Now.