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Cybersecurity: Checks Show Spend Cuts Likely Coming in 2023, These Stocks Could Outperform - BofA

By Senad Karaahmetovic A Bank of America analyst reflected on the cybersecurity sector after having discussions with key partners and VARs across the industry. A key takeaway from...
Cybersecurity: Checks Show Spend Cuts Likely Coming in 2023, These Stocks Could Outperform - BofA © Reuters. Cybersecurity: Checks Show Spend Cuts Likely Coming in 2023, These Stocks Could Outperform - BofA

By Senad Karaahmetovic

A Bank of America analyst reflected on the cybersecurity sector after having discussions with key partners and VARs across the industry.

A key takeaway from these discussions is that spending slowdowns have already started. This is mostly associated with mid-sized enterprises and SMBs while the large enterprises have shown no signs of a slowdown, although this may change too soon.

“We note that partners believe larger enterprises may also reduce budgets, yet this might only happen starting next year. On specific areas within security, endpoint solutions, Cloud security and privileged access management seem to be more resilient areas, while distributors expect to see some slowdown in IAM and VM,” the analyst said in a note.

Overall, Microsoft (NASDAQ:MSFT) is seen as a beneficiary in multiple areas given its “bundle offerings.”

As far as sectors are concerned, the analyst notes strong demand for endpoint security, which should benefit SentinelOne (NYSE:S) and CrowdStrike (NASDAQ:CRWD).

“We see SentinelOne and CrowdStrike in different segments of the market, with SentinelOne benefiting from a 10-20% price advantage in the mid-market, while CrowdStrike wins with larger enterprises on product breadth, typically having much larger deals than SentinelOne,” he added.

As far as cloud security is concerned, Zscaler (NASDAQ:ZS) and Palo Alto Networks (NASDAQ:PANW) are seen as “clear winners.”

“Zscaler has been successful in displacing legacy solutions, with resellers noting a strong partnership ecosystem, while Palo Alto is successful with companies that are not yet fully cloud-native and still utilize firewalls. Additionally, Palo Alto is benefiting from the ability to cross sell into the existing customer base,” the analyst concluded.

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16-08-2022 20:31:55 (UTC+7)

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EUR/USD

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    EUR/USD 1.0158 ↑ Buy  
    GBP/USD 1.2054 Neutral  
    USD/JPY 134.57 ↑ Buy  
    AUD/USD 0.7012 Neutral  
    USD/CAD 1.2884 ↑ Sell  
    EUR/JPY 136.70 ↑ Buy  
    EUR/CHF 0.9647 ↑ Buy  
    Gold 1,789.65 Neutral  
    Silver 20.023 Sell  
    Copper 3.6218 ↑ Sell  
    Crude Oil WTI 88.98 ↑ Sell  
    Brent Oil 94.54 ↑ Sell  
    Natural Gas 9.221 ↑ Sell  
    US Coffee C 222.68 ↑ Sell  
    Euro Stoxx 50 3,793.55 ↑ Sell  
    S&P 500 4,289.78 Neutral  
    DAX 13,854.61 ↑ Buy  
    FTSE 100 7,549.15 Neutral  
    Hang Seng 19,830.52 ↑ Buy  
    Small Cap 2000 2,009.65 ↑ Buy  
    IBEX 35 8,494.90 ↑ Buy  
    BASF 44.185 ↑ Buy  
    Bayer 54.05 Neutral  
    Allianz 179.52 Buy  
    Adidas 170.69 ↑ Buy  
    Lufthansa 6.737 ↑ Buy  
    Siemens AG 111.44 ↑ Buy  
    Deutsche Bank AG 8.996 Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,580/ 6,680
(-10/ -10) # 1,639
SJC HCM6,600/ 6,700
(-10/ -10) # 1,659
SJC Hanoi6,600/ 6,702
(-10/ -10) # 1,661
SJC Danang6,600/ 6,702
(-10/ -10) # 1,661
SJC Nhatrang6,600/ 6,702
(-10/ -10) # 1,661
SJC Cantho6,600/ 6,702
(-10/ -10) # 1,661
Cập nhật 16-08-2022 20:31:57
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$1,775.56 -2.92 -0.16%
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Sản phẩm Vùng 1 Vùng 2
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RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
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Dầu hỏa 2-K23.32023.780
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Brent $93.77 -0.81 -0.87%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.230,0023.540,00
EUR23.145,5524.441,71
GBP27.456,8428.627,78
JPY171,08181,12
KRW15,4318,80
Cập nhật lúc 18:54:08 16/08/2022
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