Cybersecurity threats continue to be daily occurrences. We only hear about the major intrusions, but in reality, the attacks are constant. Given that more people have been working from home instead of at offices, the demand for protection of critical information will continue to provide tailwinds for cybersecurity companies.
Last year, Gartner, Inc. estimated that the global spending on information security and risk management technology and services would be $150.4 billion in 2021. (Source: “Gartner Forecasts Worldwide Security and Risk Management Spending to Exceed $150 Billion in 2021,” Gartner, Inc., May 17, 2021).
The research and advisory firm attributed the strength of the sector to the trend of remote working, which—even after many workers return to offices following the COVID-19 pandemic—is expected to remain strong.
On the small-cap end of the cybersecurity sector, a contrarian play worth watching is Telos Corp (NASDAQ:TLS).
Read more about Telos Corp stock here
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