There’s growing fear of cyberattacks, we noted on February 22.
In fact, the FBI has called on the private sector to be prepared for potential attacks launched by Russia throughout the latest chaos with Ukraine.
We’re also hearing U.S. banks are prepping for potential cyberattacks after Russian sanctions.
“Among the threats they are preparing for: ransomware and malware attacks; denial-of-service attacks that take down websites; and data wiping and theft, possibly simultaneously,” reports Reuters. “Western governments have warned for weeks that the tensions could spark massive cyberattacks from Russia or its supporters.”
And, as reported by The Cybersecurity & Infrastructure Security Agency (CISA), as quoted by TheHill.com, “While there are no specific or credible cyber threats to the U.S. homeland at this time, we are mindful of the potential for Russia’s destabilizing actions to impact organizations both within and beyond the region, particularly in the wake of sanctions imposed by the United States and our allies. Every organization—large and small—must be prepared to respond to disruptive cyber activity.”
It’s why – on February 22 – we said you may want to keep these stocks on radar.
Global X Cybersecurity ETF (BUG)
Since mentioning the BUG ETF, it ran from about $28 to $30.94.
“The Global X Cybersecurity ETF (BUG) seeks to invest in companies that stand to potentially benefit from the increased adoption of cybersecurity technology, such as those whose principal business is in the development and management of security protocols preventing intrusion and attacks to systems, networks, applications, computers, and mobile devices,” says Global X.
iShares Cybersecurity and Tech ETF (IHAK)
Since February 22, IHAK ran from about $38 to $41.71.
According to iShares, “The iShares Cybersecurity and Tech ETF seeks to track the investment results of an index composed of developed and emerging market companies involved in cyber security and technology, including cyber security hardware, software, products, and services.”
Some of its top holdings include Zscaler, Fortinet, Docusign Inc., Okta Inc. and Proofpoint Inc.
Palo Alto Networks (PANW)
Since February 22, PANW ran from about $470 to a recent high of $592.
PANW is one of the biggest cybersecurity firms in the world. Even after running from a low of $225 to $470, it could still see higher highs. JMP Securities recently assumed coverage of the stock with an outperform rating with a target price of $620. Even Citi just initiated a buy rating on the PANW stock with a $585 price target.
