With global cyberattacks rising by 38% since 2021, the cybersecurity sector is increasingly vital for investors, leading to a focus on prominent stocks like Fortinet. The company reported $4.4 billion in sales last year and anticipates growth to $5.4 billion, bolstered by a nearly 50% increase in net income to $1.19 per share. Akamai's security segment also made significant contributions to its sales, while SentinelOne showcased its strength with $549 million in annualized recurring sales, highlighting the sector's resilience against average malware-related attack costs exceeding $1.4 million.
“cybersecurity stocks to buy · have become · an essential consideration · true”
“global cyberattacks · increased by · 38% · last year compared to 2021”
“average cost of malware-related attacks · hovers over · $1.4 million · true”
“Fortinet · is a · top cybersecurity stock to buy · true”
“Fortinet · delivered · $4.4 billion in sales · 2022”
“Fortinet's non-GAAP net income · soared almost · 50% · to $1.19 per share”
“Fortinet · expects revenues to continue to grow · $5.4 billion in sales · for the year”
“Akamai · is a · leader in providing CDN services · true”
“Akamai's security services segment · contributed roughly · 42% of its overall sales · last year”
“SentinelOne · is a · California-based cybersecurity specialist · true”
“SentinelOne · delivered annualized recurring sales of · $549 million · last year”
“Nehal Chokshi · increased the price target on · Super Micro Computer, Inc. (NASDAQ:SMCI) · $175 from $165”