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.
- Cyren Ltd (NASDAQ: CYRN)
- Palo Alto Networks Inc (NASDAQ: PANW)
- Mandiant Inc (NASDAQ: MNDT)
- Crowdstrike Holdings Inc (NASDAQ: CRWD)
- Okta Inc (NASDAQ: OKTA)
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.
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