Technology

With Old Security Giants at Risk, Stifel Has 2 Newer Cybersecurity Picks

As the cybersecurity worries have increased, the companies that have barged into the sector with new products and innovation are starting not only to become the new standards for the industry, but they are slowly but surely starting to push out some of the old established companies. A new research report from Stifel highlights the top companies that are leading the charge in the sector.

The Stifel report notes that the historically leading vendors in the security software industry are losing both market share and the technology innovation battle to the top new vendors. It cites endpoint security and the broader firewall and perimeter security market as the two key areas where huge gains are being achieved.

Stifel has two top new-generation companies rated Buy that have been put on sale recently, and they could provide aggressive investors with huge gains by the end of the year.

FireEye

This company has been absolutely crushed and could offer massive upside. The stock has tumbled almost 40% since June. FireEye Inc. (NASDAQ: FEYE) has been mentioned recently as a takeover target, with numerous big tech companies listed as possible suitors. The company announced earlier this year that it will be working with Visa to help the credit card giant develop products for merchants and credit card issuers to defend against large-scale attacks on payment data. FireEye is in an arena where it may drive the next big wave of cybersecurity technology.

FireEye has invented a purpose-built, virtual machine-based security platform that provides real-time threat protection to enterprises and governments worldwide against the next generation of cyberattacks. These highly sophisticated cyberattacks easily circumvent traditional signature-based defenses, such as next-generation firewalls, IPS, anti-virus and gateways.

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The FireEye Threat Prevention Platform provides real-time, dynamic threat protection without the use of signatures to protect an organization across the primary threat vectors and across the different stages of an attack life cycle. The core of the FireEye platform is a virtual execution engine, complemented by dynamic threat intelligence, to identify and block cyberattacks in real time. FireEye has over 3,400 customers across 67 countries, including over 250 of the Fortune 500.

The Stifel price target price for the stock is $55, and the Thomson/First Call consensus price target is $54.09. The stock closed most recently at $33.60.

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