2022 Could Be Another Gangbusters for Cybersecurity Stock (SFET, CRWD, ZS, OKTA, PANW, S)

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There is no doubt that work from home has led to significant increase in security challenges as cloud computing and remote work became essential. This has led to a significant interest in cybersecurity stocks and the demand for next-gen security software in this new digital era is stronger than ever.

To add fuel to the fire, high-profile security breaches like that of the networking software company SolarWinds (NYSE:SWI), the Colonial Pipeline, and the Washington, D.C., Metropolitan Police Department illustrate the massive need for sophisticated security services and the real-world consequences if an organization is lax with its IT security practices. Overall, cybercrime is on the rise at a double-digit percentage pace. Let’s take a look at some of the stocks in the cybersecurity space that could potentially gain broader attention in 2022. 

Safe-T® Group Ltd. (NASDAQ:SFET), Safe-T® Group Ltd. (NASDAQ, TASE: SFET) (“Safe-T”) is a global provider of cybersecurity and privacy solutions to consumers and enterprises. Trading at mere $0.75, this stock could offer the highest upside potential. Recently, the company announced that its wholly owned subsidiary, Safe-T Data A.R Ltd., has been recognized as a Representative Vendor in Gartner’s December 2021 report titled, “Market Guide for User Authentication”.

According to Gartner, “There is a small but important role for specialist vendors that can provide organizations that have particularly complex legacy application infrastructures with a cohesive user authentication framework. These vendors might have their own user authentication capability or integrate with AM or third-party user authentication tools.”

Safe-T ZoneZero® is the first Identity-Based Zero Trust Orchestration solution, it provides centralized Identity-based Zero Trust Security and Multi-Factor Authentication, for all users.

“We are proud to be recognized by Gartner for our ability to provide a cohesive user authentication framework for complex application infrastructures. We believe this latest recognition reflects our continuous efforts to provide the best identity-based zero-trust solution to the market,” said Eitan Bremler, VP of Product strategy at Safe-T. For more info, visit https://finance.yahoo.com/news/safe-t-listed-gartner-market-130000500.html

CrowdStrike Holdings (NASDAQ:CRWD) provides endpoint security — protection for devices such as laptops, PCs, and servers, and any other device connected to a network. Because it’s cloud-based, CrowdStrike is particularly well-suited for supporting remote work. CrowdStrike’s software uses machine learning (a type of artificial intelligence) to detect security breaches and hunt down threats. It’s also easy to deploy to the millions of people working from home and the billions of machines connected to the internet. The company has steadily increased the number of modules on its platform to help its customers, and it has new integration agreements with other tech companies to make data protection more consistent across an organization’s IT infrastructure.

CrowdStrike’s sales have been booming, and the company is currently the largest pure-play security vendor by market capitalization. In an increasingly mobile world with more devices continually coming online, CrowdStrike is poised to continue growing at a brisk rate.

Another cloud-native security vendor, Zscaler (NASDAQ:ZS) works in tandem with endpoint security services to help keep data secure. The company has been increasing its sales at a rapid pace and is another of the largest pure-play cybersecurity stocks. Okta (NASDAQ:OKTA) is a pioneer of identity and access management, which rethinks traditional security by using what’s called zero-trust architecture. In an increasingly mobile and cloud-based world, Okta’s identity management software has been in high demand. SentinelOne (NYSE:S) raised $1.2 billion in cash and valued the company at $10 billion in June, 2021. SentinelOne’s IPO the largest ever for a cybersecurity company. This small company operates a cloud-based endpoint security platform. 

Palo Alto Networks’ (NYSE:PANW), Fortinet (NASDAQ:FTNT) are other cybersecurity stocks that Wall Street could be eyeing in 2022.

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