Galeanu Mihai
Cerberus Cyber Sentinel Corporation (NASDAQ:CISO) differs from other IT security companies by its relatively small size. However, in addition to cybersecurity protection to prevent malicious attacks by hackers, it also provides compliance and forensics services.
Currently available at around $3.52 a share, the stock has suffered from a vertiginous 600% drop since its January 13 high of $48. This makes it a tempting investment, but for investors, I assess whether it constitutes a buy by analyzing the financials and competitive positioning.
Data by YChartsFirst, I start by elaborating on how the company has positioned itself to address the global threat scenario.
The Importance of Cybersecurity
Since the beginning of Covid-19, employees have changed their habits considerably and have been increasingly working from home on their laptops. There, they do not necessarily benefit from the same level of IT security protection compared to their offices which are located behind strong network firewalls. At the same time, people have been spending more time sitting on their sofas to play online games.
In parallel, more businesses have undergone a digital transformation, and their IT workloads reside in the cloud. Looking at security, the shift to digital has conversely increased risks of cyberattack as hackers now have more potential targets. In terms of figures, about $6 trillion was lost to cybercrime in 2021 alone, which translates to about $11.4M per minute.
To protect themselves, corporations depend on the solutions offered by cybersecurity companies including Cerberus whose astounding CAGR revenue growth ..
Support the originator by clicking the read the rest link below.
