Data breaches as a result of cyber-attacks have become a common feature in the world where consumer’s data has become extremely valuable in instigating further attacks. The risk of lost data continues to be a big concern to big companies as well as people, who continue to search for viable solutions that are expected to provide a shield against future attacks. Fox Business’ Charles Payne remains bullish about Symantec Corporation (NASDAQ:SYMC) FireEye Inc. (NASDAQ:FEYE) and Palo Alto Networks Inc. (NYSE:PANW) as some of the top picks in the cyber security space.
“FireEye Inc. (NASDAQ:FEYE) was up really nice in the aftermarket a lot of people maybe have a hunch that International Business Machines Corp. (NYSE:IBM) might make a bid or someone I still like the stock a lot. […] Palo Alto Networks Inc. (NYSE:PANW) more of a trading vehicle, a lot of this names were red hot they were crashed despite those headlines I think these companies are going to come onboard. It is not only going to be JPMorgan Chase &Co (NYSE:JPM) or the Sony Coro (ADR) (NYSE:SNE)’s, said Mr. Payne.
Payne is closely eying FireEye as reports emerge that the stock might be a possible acquisition target something that should propel the stock even higher going forward. There is sure to be undeniable growth in Symantec and Palo Alto Networks Inc. (NYSE:PANW) as the demand for cyber security solutions continues to grow in the wake of Sony Coro (ADR) (NYSE:SNE) feeling the full effects of hackers.
Heritage Capital President, Paul Schatz, maintains that betting on big company’s like Symantec Corporation (NASDAQ:SYMC) in the cyber security space remains ideal at the moment. Large cap companies in the cyber security space are sure to provide better returns in the long term based on the fact that they remain the to-go places for big corporate companies looking for solutions for averting cyber attacks
“It is more of a fledgling sector and for me I would rather have my money for the time being in a larger company like Symantec Corporation (NASDAQ:SYMC). There have been there for a long time and it is not that expensive either,” said Mr. Schatz.
Penn Financial Group Founder, Matt McCall, on the other end remains bullish on Fortinet Inc. (NYSE:FTNT) on the fact that the company has no debt at the back of enjoying a decent revenue growth despite being a little bit expensive.
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