Cybersecurity is one of the fastest-growing industries due to rapid digitalization. The global market is expected to grow significantly, according to Fortune Business Insights. Cybersecurity equities could be a valuable addition to a portfolio, considering the increasing demand for cybersecurity solutions.
Cybersecurity is one of the fastest-growing industries due to rapid digitalization. The global market is expected to grow significantly, according to Fortune Business Insights [1]. Cybersecurity equities could be a valuable addition to a portfolio, considering the increasing demand for cybersecurity solutions.
Varonis Systems (VRNS) and OneSpan, Inc. (OSPN) are two notable cybersecurity companies that have caught the attention of analysts. Both companies offer robust data protection solutions and are well-positioned to benefit from the growing demand for cybersecurity services.
Varonis Systems is a leading provider of data security technology. The company offers a proprietary cloud-native data security platform that protects critical data in real-time through AI-powered automation processes. Varonis' platform includes features such as identity protection, database activity monitoring, and data loss prevention. The company reported strong financial performance in its latest quarterly report, with revenues of $152.2 million and a 17% year-over-year gain. Analysts are optimistic about Varonis' long-term growth prospects [1].
OneSpan, Inc., on the other hand, focuses on information security, fraud protection, and multi-factor authentication. The company has a strong client base in the financial industry, with major clients such as IBM and RBC. OneSpan's security systems are used by nearly two-thirds of the world's 100 largest banks. The company reported revenues of $59.84 million in its latest quarterly report, with a non-GAAP EPS of 34 cents, beating estimates. Analysts believe that OneSpan's strong brand and high-end security capabilities make it a compelling investment opportunity [1].
Both Varonis Systems and OneSpan, Inc. are well-positioned to benefit from the growing demand for cybersecurity solutions. Investors interested in the cybersecurity sector should consider these companies as potential additions to their portfolios.
References:
[1] https://finance.yahoo.com/news/2-cybersecurity-stocks-look-attractive-100805370.html
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