3 Cybersecurity Stocks Poised to Benefit From Rising Malware Attacks

InvestorPlace05-24

Below are the top 3 cybersecurity stocks to buy with rising cyber threats. Fortinet (FTNT): First quarter earnings increased 21% YOY to $299 million. Qualys (QLYS): The company delivered record ...

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Gain exposure to the best cybersecurity stocks to buy to capitalize on this trend.","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"QLYS":"科力斯","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","LU1169590202.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"I\" (USD) ACC","BK4588":"碎股","LU1169589451.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"A\" (USD) ACC","BK4123":"调查和咨询服务","BK4097":"系统软件","IE00B64QTZ34.USD":"NEUBERGER BERMAN US SMALL CAP \"A\" (USD) ACC","BK4560":"网络安全概念","FTNT":"飞塔信息","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU1878469433.USD":"THREADNEEDLE (LUX) - AMERICAN SMALLER COMPANIES \"A\" (USD) ACC","BK4532":"文艺复兴科技持仓","LU1917777945.USD":"安联专题基金Cl AT Acc","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","BK4585":"ETF&股票定投概念","CACI":"CACI国际","LU0079474960.USD":"联博美国增长基金A","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC"},"translate_title":"3网络安全股将受益于恶意软件攻击的增加","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"QLYS":1,"CACI":1,"FTNT":1},"content_text":"Below are the top 3 cybersecurity stocks to buy with rising cyber threats. \n Fortinet (FTNT): First quarter earnings increased 21% YOY to $299 million. \n Qualys (QLYS): The company delivered record results in FY23 and is committed to building on that momentum in 2024. \n CACI International (CACI): Management raised their FY24 guidance for the third time. \n\n\n\n\n\n \n\nSource: Shutterstock\n\n\n\nOver the last decade, the world has seen a dramatic increase in the frequency and sophistication of malware attacks. This makes the case for the best cybersecurity stocks to buy in 2024.\nAs cyber criminals develop increasingly robust methods to infiltrate networks and steal valuable data, businesses of all sizes across industries are ramping up their cybersecurity investments. This surge in demand drives significant growth in the sector, making it an attractive investment idea. Furthermore, the industry is still in its infancy, which provides fertile ground for long-term upside. As the battle against cyber threats intensifies, investors can capitalize on this burgeoning sector. \nNow, let’s discover the top cybersecurity stocks to buy in May 2024.\nFortinet (FTNT)\nSource: Sundry Photography / Shutterstock.comFortinet (NASDAQ:FTNT) stands out as a premiere cybersecurity stock to buy in 2024. The company, founded over two decades ago, specializes in firewalls, threat detection and endpoint security.\nFortinet’s flagship product, the FortiGate firewall, is renowned for its high performance and integrated security capabilities. It provides comprehensive protection against various cybersecurity threats, making it ideal for medium to large corporations. This, coupled with their expanding portfolio, including cloud security, endpoint protection and secure networking, has solidified them as a leader in the space. In FY23, the company delivered record revenue, earnings and FCF from operations. They also hit a very exciting milestone, surpassing $1 billion in net earnings for the first time.\nMoreover, their first quarter results in 2024 showcased significant improvements. Revenue increased 7% YOY to $1.35 billion, with EPS up 26% to $0.39 per share. This makes FTNT stock one of the top cybersecurity stocks to buy in 2024.\nQualys (QLYS)\nSource: Michael Vi / Shutterstock.comQualys (NASDAQ:QLYS) is a smaller cybersecurity stock with tremendous potential for outperformance. The company specializes in cloud-based security solutions and has seen an explosion in profitability since the pandemic.\nQualys cloud-based platform is known for its exceptional performance and reliability. The Qualys Enterprise TruRisk platform is one of the market’s most recognized and respected vulnerability management solutions. It provides a risk-based approach to accessing and managing real-time threats while consolidating point solutions for de-risk businesses. Furthermore, the platform also leverages AI for threat detection and compliance monitoring. \nIn the 2023 fiscal year, Qualys grew revenue by 13% YOY to $553 million. EPS swelled 47% YOY to $4.03 per share, with FCF hitting a record $236 million. Their commitment to continuous improvement and leadership in vulnerability management solutions remains steadfast. This is why they have maintained steady revenue growth and profits, making them a compelling choice for investors seeking exposure to the cybersecurity sector.\nCACI International (CACI)\nSource: Casimiro PT / Shutterstock.comCACI International (NYSE:CACI) is an under-the-radar company presenting a compelling case as one of the top cybersecurity stocks. They primarily provide software and cybersecurity solutions for Intelligence, Defense and Federal Civilian customers. \nCACI International’s expertise in cybersecurity signals intelligence and electronic warfare makes it a key player in the defense against malware attacks. Their software solutions are designed to protect critical infrastructure and sensitive information from buyer threats, making them a valuable asset in threat detection.\nThe company’s long-term contracts with various U.S. government agencies ensure a steady and predictable revenue stream, bolstering investor confidence. In their latest quarterly financial results, revenue increased 11% YOY to $1.94 billion. Net income rose 14.5% to $115.4 million, or $5.13 per share. Additionally, adjusted EBITDA margin increased by 200 bps to 11.3%. With management raising their FY24 guidance for the third time, CACI stock could set up for the next leg higher in 2024.\nOn the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nTerel Miles is a contributing writer at InvestorPlace.com, with more than seven years of experience investing in the financial markets.Cybersecurity, Technology\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/05/3-cybersecurity-stocks-poised-to-benefit-from-rising-malware-attacks/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2437823130"}