Cybersecurity Gaining Momentum On Russia-Ukraine Developments: The Stocks To Watch

Zinger Key Points
  • Wedbush analyst says a significantly elevated level of cyberattacks are now appearing on the horizon, adding growth tailwinds for the cybersecurity sector.
  • The analyst advises tech investors to focus on well positioned cybersecurity vendors during the market turmoil.

Russia’s invasion of Ukraine has raised concerns about cyberattacks to a fever pitch. In the United States, banks and major corporations are reinforcing up their cybersecurity protocols in the anticipation of a greater number of hacking attempts. 

"With the Ukraine conflict now front and center and poised to widen, we expect a surge of cybersecurity attacks from Russia state-sponsored organizations that could change the game for US/European enterprises and governments over the coming months," Wedbush tech analyst Dan Ives said last week.

"With a significantly elevated level of cyberattacks now appearing on the horizon, we believe added growth tailwinds for the cybersecurity sector and well positioned vendors should be a focus sector for tech investors during this market turmoil," the analyst added. 

While no specific warning exists, the current geopolitical situation serves as a reminder that threats of war can extend beyond just land, sea and skies. 

Benzinga has gathered a list of cybersecurity stocks by class that investors should watch as the Russia-Ukraine conflict develops.

Cloud based:

  • Cyren Ltd CYRN 
  • Palo Alto Networks Inc PANW 
  • Mandiant Inc MNDT 
  • Crowdstrike Holdings Inc CRWD
  • Okta Inc OKTA 

Critical infrastructure:

  • Data Storage Corp DTST 
  • Ironnet Inc IRNT 
  • Fortinet Inc FTNT 

Network Security: 

  • Cerberus Cyber Sentinel Corp CISO 
  • Zscaler Inc ZS

Application security:

  • SentinelOne Inc S 
  • Cyberark Software Ltd CYBR

Cybersecurity experts say even though there could be threats to individual Americans, the main concern is at the federal level. They indicate the most vulnerable groups are non-profit organizations, which often lack the funding to invest in cybersecurity.

Also Read: 4 Little-Known Cybersecurity Stocks To Watch As Systems Prepare For Russian Attacks

Posted In: Mid CapPenny StocksSmall CapMoversTechTrading IdeasCybersecurityDan IvesRussiaUkraine