Apps & Software

Cybersecurity Remains One of Tech's Hottest Trades: 5 Stocks to Buy Now

Sailpoint Technologies

This off-the-radar stock has outstanding upside potential. Sailpoint Technologies Holdings Inc. (NASDAQ: SAIL) engages in the provision of enterprise identity governance solutions in the United States and throughout the world. It also offers licensing of software, sale of professional services, maintenance and technical support.

Leveraging artificial intelligence and machine learning, SailPoint’s predictive identity governance platform delivers adaptive security and continuous compliance, while dramatically improving operational efficiency. With SailPoint, organizations of all sizes can embrace innovation, expand their workforce globally and evolve their business, securely and confidently.

Jefferies has set its price target at $70. The consensus target is $61.93, and the shares ended Monday’s trading at $59.09 apiece.

Varonis Systems

While not a pure-play security stock, this is a big potential winner in the overall sector. Varonis Systems Inc. (NASDAQ: VRNS) provides software products and services that allow enterprises to manage, analyze and secure enterprise data in North America and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees’ data; financial records; strategic and product plans; and other intellectual property.

The company offers DatAdvantage that captures, aggregates, normalizes and analyzes every data access event for users on Windows and UNIX/Linux servers, storage devices, email systems and intranet servers. Its DatAlert profiles users and their behaviors related to systems and data, detects and alerts on deviations to established baselines and provides a web-based dashboard and investigative interface. The company also provides a Data Classification Engine that identifies and tags data based on criteria set in various metadata dimensions and provides business and information technology (IT) personnel with actionable intelligence about data.

The Jefferies price target on Varonis Systems stock is $205. The consensus target is $168.94, but shares closed Monday at $183.18, after pulling back almost 4% on the day.

Wall Street has returned to these companies in a big way as the need in corporate America and government is increasing every year. These top stocks offer investors solid ways to play the sector in a multitude of areas, and while only suitable for aggressive growth investors, they are among the best of the best.

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