2 Cybersecurity Stocks To Consider Buying In 2021

The recent cyberattack on the U.S. government, deemed to be the worst cyberattack in history, has increased awareness regarding cybersecurity. With most workplaces adopting hybrid working models, the demand for integrated cybersecurity technologies should rise this year. We think this should benefit budding cybersecurity stocks McAfee (MCFE) and Check Point Software Technologies (CHKP). 

NASDAQ: CHKP | Check Point Software Technologies Ltd. - Ordinary Shares News, Ratings, and Charts

Cybersecurity is emerging as one of businesses’ and governments’ biggest priorities. The U.S. government is still dealing with a months-long security breach first identified in December. Because sensitive information from more than six government agencies and several Fortune 500 companies have been compromised, the clamor for effective  cybersecurity software has gotten louder.  International Data Company (IDC) expects the cybersecurity industry to grow at a CAGR of 8.1% over the next four years to hit $174.70 billion in revenue by 2024.

Remote working trends have also contributed to the rising demand for cybersecurity. Companies are actively investing in state-of-the-art software and technology to protect their proprietary information from being stolen. As most companies have adopted  hybrid working models, a recent survey by PwC revealed that 96% of executives have upgraded their cybersecurity strategy in 2020.

As the remote lifestyle is expected to remain  post COVID-19 pandemic, we think companies such as McAfee Corp.  and Check Point Software Technologies Ltd. are well-positioned to hit  new highs this year and beyond.

Check Point Software Technologies Ltd. 

Headquartered in Israel, CHKP offers multiple data and network, endpoint and management security solutions, thereby providing all-inclusive IT security coverage. Its solutions are designed for commercial businesses and small-scale enterprises, as well as to  meet customized  consumer requirements. The company’s cybersecurity architecture is designed to  combat 5th and 6th generation cyberattacks.

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