In the age of technological advancement and software development, deterring and thwarting cyber-attacks is a top priority. Enter a cybersecurity company. These companies provide important protection to both individuals and large businesses. If you want to take full advantage of the upcoming growth in cybersecurity stocks, here are three you should analyze and consider adding to your portfolio in 2024.
Varonis (VRNS)
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varonis systems (NASDAQ:VRNS) stands out in the cybersecurity field by providing cutting-edge data security solutions. These services position us as a trusted investment for portfolio protection in 2024.
Despite the slight decrease of $1 million; total incomefrom $123.3 million in 2022 to $122.3 million in Q3 2023, the company has shown resilience with notable highlights.
Subscription revenue increased from $96.1 million to $97.7 million, contributing to an impressive 16% year-over-year growth in annual recurring revenue (After arrival), totaling $517.5 million. In addition, Varonis demonstrated operational efficiency with his strong cash position of $731.5 million, and in the nine months ending September 30, 2023 he generated cash flow of $49 million. Ta.
Remarkably, leaders are creating strategic initiatives that highlight their commitment to staying at the forefront of the cybersecurity field. Major recent initiatives include stock buybacks and corporate integration. Salesforce Shield (New York Stock Exchange:CRM) delivers advanced threat detection and is expanding globally with data centers in Canada and the UK.
comprehensive development Varonis fully covers: microsoft 365 (NASDAQ:MSFT), effectively address email security issues. Varonis extends patented data classification technology to emails, attachments, and calendar events to help organizations proactively reduce their email attack surface, prevent data leaks, and leverage generative artificial intelligence. Allowing you to reduce risk.
of Varonis Recognition as a recipient Winner of the Best Innovation in Data Security Posture Management (DSPM) Award cyber defense magazine This proves the company’s innovative contribution to the cybersecurity field.
In my opinion, this cybersecurity stock is a clear winner for forward-thinking investors.
Cloudflare (NET)
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Cloudflare Co., Ltd. (New York Stock Exchange:Net) is like your internet security officer, keeping your websites and applications safe. In the third quarter of 2023, they developed economic power Total revenue was $335.6 million, an increase of 32% from the prior year.
Although there were some issues with generally accepted accounting principles (GAAP) operating loss, non-GAAP revenue was positive at $42.5 million. For them, it’s not just about money.they secured 6th place in luck This year’s Future 50 list. This list highlights companies with long-term growth potential.
Cloudflare was a standout in the Q4 2023 Forrester Wave for Edge Development Platforms. Earn the title of leader. With over 1 million developers working on Cloudflare, its Workers Platform is like a magic wand for developers, facilitating scalability, protecting applications from cybercriminals, and containing costs.
flat microsoft edge Decided to form a team Leverage Cloudflare’s privacy proxy technology for edge secure network functionality. Now Edge users will be able to browse her web like a ninja while keeping their online actions secret.
This not only protects browser traffic, but also provides users with a VIP pass to the internet with encryption, anti-tracking, and location privacy.
Akamai (AKAM)
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Akamai Technologies (NASDAQ:Akamu) is a major player in the online experience space and stands out as the cybersecurity jewel of your investment portfolio.
In the third quarter, the company reporting excellent financial results; This represents a 9% year-over-year increase in revenue, with security and computing revenue accounting for 61% of the total. Encouragingly, earnings per share also grew significantly, demonstrating Akamai’s strong position in the market and its growth potential.
Furthermore, the company’s innovation efforts are partnership with hydraulics, offers TrafficPeak. It is an observability platform that provides real-time insights at a fraction of the cost of other solutions.
In collaboration with deloitte, The company expanded its global security services to offer zero trust microsegmentation and incident response services. This partnership addresses the growing threat of ransomware and provides immediate protection to organizations around the world.
And finally, Akamai DDoS Integration The protections provided by our new filtering centers in Toronto and Montreal highlight our commitment to strengthening our online defenses. These centers not only enhance security, but also optimize operational costs and increase visibility into region-specific DDoS attack patterns.
At the time of writing, Gabriel Osorio-Mazzilli does not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer and are subject to InvestorPlace.com Publishing Guidelines.