Cybersecurity Still Dominates as a Massive Risk for Major Corporations>
24/7 Wall St – Lee Jackson
A new Baird research report points out that in the Marsh-Microsoft survey of corporate America, 22% of the respondents ranked cybersecurity risk as the top concern. An additional 78% said cyber concerns ranked in the top five of all risks. Plus, an additional 64% of respondents said a cyberattack on their organization would be the biggest driver to increase the cybersecurity budget, more than any other factor. We screened the Baird cybersecurity stocks coverage list and found four outstanding companies, all of which are rated Outperform. While not a pure play in cybersecurity, this is a mega cap tech leader for more conservative accounts to consider. Cisco Systems Inc. (NASDAQ: CSCO) designs, manufactures and sells internet protocol (IP) based networking products and services related to the communications and information technology industry worldwide. This is a smaller and perhaps less known company on which the Baird team is very positive. Mimecast Ltd. (NASDAQ: MIME) provides cloud security and risk management services for corporate information and email. This continues to be one of the most dominant players in its industry. Palo Alto Networks Inc. (NASDAQ: PANW) is helping to lead a new era in cybersecurity by protecting thousands of enterprise, government and service provider networks from cyber threats. Unlike fragmented legacy products, its security platform safely enables business operations and delivers protection based on what matters most in todayâs dynamic computing environments: applications, users and content. This company has long been mentioned as a potential takeover candidate, and it is also a top pick at Baird. Proofpoint Inc. (NASDAQ: PFPT) provides threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery and secure communication solutions worldwide. Its security-as-a-service solutions comprise an integrated suite of on-demand data protection solutions that enable large and midsized organizations to defend, protect, archive and govern their sensitive data.
Link: https://247wallst.com/technology-3/2019/09/25/cybersecurity-still-dominates-as-a-massive-risk-for-major-corporations/