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Trend Micro Inc provides antivirus and other security products that protect the flow of information on PCs, file servers, e-mail servers, and the Internet gateway. Sales have averaged 75% annual growth over the past decade. Customers include British Airways, Merrill Lynch, Microsoft, Pacific Bell, and governmental agencies in the United States and Japan.

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CyberSecurity Stocks – An Overview Of Their Performance And Thoughts On Their Potential Trajectory

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Trend Micro Inc

Trend Micro Incorporated (TMICY) Q2 2024 Earnings Call Transcript

As remote work becomes increasingly prevalent, ensuring robust cloud security is more critical than ever. The surge in cyber threats highlights the need for reliable protection, making it an opportune moment for investors to consider robust cloud security stocks Tenable Holdings (TENB), Trend Micro (TMICY), and Darktrace (DRKTY). Read on… Since the Covid-19 pandemic, remote work has become the preferred method of employment for millions, even years after the pandemic has ended. According to the Pew Research Center, around <a href="https://www.usatoday.com/money/blueprint/business/hr-payroll/remote-work-statistics/">22 million employed adults</a> in the United States work from home full-time, equal to roughly 14% of all employed adults.
Given this shift, investing in fundamentally robust cloud security stocks, such as Tenable Holdings, Inc. (<a href="https://stocknews.com/stock/TENB/">TENB</a>), Trend Micro Incorporated (<a href="https://stocknews.com/stock/TMICY/">TMICY</a>), and Darktrace plc (DRKTY), could be advantageous. Before diving into the stocks, let's first understand the current state of the cloud security industry.
As remote work continues to rise, securing the data stored in cloud-based systems has become essential to fend off increasing cyberattacks and threats. The <a href="https://edition.cnn.com/2024/07/24/tech/crowdstrike-outage-cost-cause/index.html">recent software glitch</a> at CrowdStrike Holdings, Inc. (<a href="https://stocknews.com/stock/CRWD/">CRWD</a>), which resulted in a major tech outage and left millions of Windows users locked out of their devices, highlights the need for advanced cybersecurity.
That being said, while organizations are swiftly adopting new defenses, there is still ample opportunity for innovation in strengthening cybersecurity measures. Accordingly, the increasing threat of cybercrime has made governments and organizations invest billions in beefing up the digital security.
The Biden-Harris administration has <a href="https://federalnewsnetwork.com/budget/2024/03/biden-budget-request-includes-13b-for-cybersecurity-continuing-upward-trend/?readmore=1">proposed $13 billion in cybersecurity funding</a> across civilian departments and agencies for fiscal 2024. Additionally, the fiscal 2025 proposal allocates $3 billion to the Cybersecurity and Infrastructure Security Agency (CISA), marking a $103 million increase from its current budget.
Thus, the adoption of cloud security and other cybersecurity measures has become crucial for organizations to prevent data theft and breaches. According to Mordor Intelligence, the cloud security software market is projected to reach $102.59 billion by 2029, expanding at <a href="https://www.mordorintelligence.com/industry-reports/global-cloud-security-software-market-industry">a CAGR of 17.6%</a>.
In light of these encouraging trends, let's examine the fundamentals of the three cloud security stock picks, starting with #3.
Stock #3: Tenable Holdings, Inc. (<a href="https://stocknews.com/stock/TENB/">TENB</a>)
TENB offers exposure management solutions for managing cybersecurity risk in information technology (IT) environments. Its solutions include Tenable Vulnerability Management, Cloud Security, Identity Exposure, Web App Scanning, Lumin Exposure View, Attack Surface Management, Security Center, and more.
On June 6, TENB announced a definitive <a href="https://investors.tenable.com/news-releases/news-release-details/tenable-acquire-eureka-security-add-data-security-posture">agreement to acquire Eureka Security, Inc</a>., a provider of data security posture management (DSPM) for cloud environments. The strategic move would enhance TENB's capability to prioritize cloud risks effectively by integrating advanced DSPM technology.
This underscores TENB's commitment to innovation in cybersecurity, positioning the company at the forefront of cloud security solutions.
On June 5, TENB announced a <a href="https://investors.tenable.com/news-releases/news-release-details/tenable-and-deloitte-announce-strategic-alliance-help-clients">strategic alliance with Deloitte</a> to offer advanced exposure management solutions, including vulnerability management, cloud security, and operational technology security. Deloitte will integrate TENB's One Exposure Management Platform, Cloud Security, and OT Security into its cyber solutions portfolio.
The strategic alliance aims the use of preventive security measures by organizations to better understand their cyber risks and help resolve issues, in turn increasing TENB's market exposure and opening its doors for new customers.
For the fiscal 2024 second quarter that ended June 30, 2024, TENB's revenue increased by 13.4% year-over-year to $221.24 million. Its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> came in at $172.44 million, showing an increase of 13.8% year-over-year.
Moreover, the company's non-GAAP income from operations was reported to be $42.78 million, a 41.6% increase from the previous year's quarter. In addition, TENB's non-GAAP net income was $38.16 million or $0.31 per share, a 45.3% and 40.9% year-over-year increase.
Street expects TENB's revenue and EPS for the fiscal third quarter ending September 2024 to increase 10.8% and 28.4% year-over-year to $223.21 million and $0.30, respectively. Plus, the company has topped the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
Shares of TENB have gained 11.6% over the past nine months, closing the last trading session at $41.60.
TENB's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust prospects. The stock has an overall rating of B, which translates to a Buy in our proprietary system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
TENB is ranked #8 out of 23 stocks in the B-rated <a href="https://stocknews.com/category/software-security/">Software – Security</a> industry. It has an A grade for Growth.
<a href="https://stocknews.com/stock/TENB/">Click here</a> to see TENB's Value, Momentum, Sentiment, Quality, and Stability ratings.
Stock #2: Trend Micro Incorporated (<a href="https://stocknews.com/stock/TMICY/">TMICY</a>)
Based in Tokyo, Japan, TMICY specializes in development and sale of computer security products and services. The company's product offering includes personal computer (PC) clients, local area network (LAN) servers, Internet servers, and more.
On August 7, the company <a href="https://www.trendmicro.com/en_au/about/newsroom/press-releases/2024/08-08-2024.html">launched a new solution</a>, which was included in TMICY's Vision One&#x2122; Sovereign Private Cloud — powered by NVIDIA Corporation (<a href="https://stocknews.com/stock/NVDA/">NVDA</a>) NIM microservices, part of the NVDA AI Enterprise software platform. This would allow organizations to boost the potential of the AI era while maintaining business resilience.
TMICY, through this development, aims to pioneer AI for security and security for AI to ensure that any team can securely innovate without elevating risk and implement new technology appropriately to improve business resilience.
On August 6, TMICY announced its <a href="https://www.trendmicro.com/en_sg/about/newsroom/press-releases/2024/2024-08-06.html">partnership with GMI Cloud</a>, a leading AI-native GPU cloud provider known for its vertically integrated platform optimized for Artificial Intelligence (AI) and Machine Learning (ML) workloads. The collaboration aims to bolster TMICY's growth by significantly enhancing its capabilities in secure AI infrastructure.
TMICY's net sales for the six months that ended June 30, 2024, stood at ¥134.53 billion ($913.56 million), up 12.5% over the prior-year quarter. Its operating income increased 34.4% year-over-year to ¥24.44 billion ($165.93 million).
In addition, net income attributable to owners of the parent rose 50.9% from the prior year quarter to ¥17.90 billion ($121.52 million).
Analysts expect TMICY's revenue for the fiscal third quarter (ending September 2024) to increase 9.9% year-over-year to $466.05 million. Its EPS for the same quarter is expected to register a robust growth of 907.1% from the previous year's period, settling at $0.50. Plus, the company has surpassed its consensus revenue estimates in three of four trailing quarters.
TMICY's stock has gained 16.3% over the past nine months and 24.4% over the past month, closing the last trading session at $54.78.
It's no surprise that TMICY has an overall rating of B, equating to a Buy in our POWR Ratings system.
The stock also has a B grade for Stability and Quality. It is ranked #2 out of 23 stocks in the same industry.
Beyond what is stated above, we've also rated TMICY for Growth, Value, Momentum, and Sentiment. Get all TMICY ratings <a href="https://stocknews.com/stock/TMICY/">here</a>.
Stock #1: Darktrace plc (<a href="https://stocknews.com/stock/DRKTY/">DRKTY</a>)
Headquartered in Cambridge, United Kingdom, DRKTY is an autonomous cybersecurity artificial intelligence (AI) company focused on providing AI solutions for enterprises. The company's portfolio includes Network, Cloud, Endpoint, Zero Trust, Email, Software as a Service (SaaS), and Operational Technology (OT) security.
On June 6, DRKTY launched <a href="https://ir.darktrace.com/press-releases/2024/6/6/c7beb76a6dd279ee39997ca5e9645fa1d983bab32429ef6af0417d38d32ba284">Darktrace Managed Detection &amp; Response (MDR)</a>, combining its leading detection and response capabilities across enterprises with the expertise of its global analyst team. The initiative strengthens DRKTY's growth by empowering organizations with AI-driven threat containment and expert alert management.
It would enable DRKTY to expand its market reach and solidify its position as a leader in advanced cybersecurity solutions, driving innovation and client satisfaction in the evolving security landscape.
For the fiscal 2024 first half that ended December 31, 2023, DRKTY's revenues increased 27.4% year-over-year to $330.30 million. Its gross profit grew 26.8% from the year-ago value to $294.88 million.  In addition, the company's adjusted EBITDA rose 87% from the prior year's period to $84.52 million.
Shares of DRKTY have gained 61.8% over the past year and 76.9% over the past six months to close the last trading session at $7.60.
DRKTY's POWR Ratings reflect strong prospects. The stock has an overall rating of A, translating to a Strong Buy in our proprietary rating system.
It has an A grade for Quality and a B for Growth and Stability. DRKTY has topped the 23-stock Software – Security industry.
Beyond what we stated above, we also have given DRKTY grades for Value, Momentum, and Sentiment. Get all the DRKTY's ratings <a href="https://stocknews.com/stock/DRKTY/">here</a>.
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TMICY shares were trading at $54.78 per share on Wednesday afternoon, down $1.27 (-2.27%). Year-to-date, TMICY has gained 2.62%, versus a 15.05% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/tmicy-drkty-tenb-nvda-crwd-3-cloud-security-stocks-benefiting-from-remote-work-trends/>3 Cloud Security Stocks Benefiting from Remote Work Trends</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Cloud Security Stocks Benefiting from Remote Work Trends

Trend Micro (TMICF – Research Report) received a Hold rating and price target from Goldman Sachs analyst Chikai Tanaka today. The company's shares ...

Goldman Sachs upgrades Trend Micro (TMICF) to a Hold

The recent rise in data breaches emphasizes the demand for strong protection, presenting an opportune moment for investors to explore fundamentally solid cybersecurity stocks like Check Point Software Technologies (CHKP), Trend Micro (TMICY), and Radware (RDWR). Read on for more details... As digital threats rise, cybersecurity is becoming more essential than ever. In this dynamic environment, investors might find it prudent to monitor quality cybersecurity stocks like Check Point Software Technologies Ltd. (<a href="https://stocknews.com/stock/CHKP/">CHKP</a>), Trend Micro Incorporated (<a href="https://stocknews.com/stock/TMICY/">TMICY</a>), and Radware Ltd. (<a href="https://stocknews.com/stock/RDWR/">RDWR</a>). 
Cybersecurity is vital for both businesses and national security, as securing cloud infrastructure and IT systems is essential for daily operations and defense against cyber threats. According to Statista, the global cybersecurity market is expected to reach $185.70 billion, exhibiting a <a href="https://www.statista.com/outlook/tmo/cybersecurity/worldwide">CAGR of 7.9%</a>.
The recent <a href="https://edition.cnn.com/2024/07/24/tech/crowdstrike-outage-cost-cause/index.html">software malfunction</a> at CrowdStrike Holdings, Inc. (<a href="https://stocknews.com/stock/CRWD/">CRWD</a>) caused a widespread tech outage, leaving millions of Windows users locked out of their devices. This incident underscores the growing demand for more sophisticated cybersecurity measures. The increasing threat of cybercrime has made governments and organizations invest billions in beefing up digital security.
As a result, the Biden-Harris administration has <a href="https://federalnewsnetwork.com/budget/2024/03/biden-budget-request-includes-13b-for-cybersecurity-continuing-upward-trend/?readmore=1">proposed $13 billion in cybersecurity funding</a> across civilian departments and agencies. The fiscal 2025 proposal also directs $3 billion to the Cybersecurity and Infrastructure Security Agency (CISA), reflecting a $103 million increase over its current budget.
With that in mind, let's analyze the fundamentals of the above-mentioned three <a href="https://stocknews.com/category/software-security/">Software – Security</a> stocks, beginning with #3.
Stock #3: Check Point Software Technologies Ltd. (<a href="https://stocknews.com/stock/CHKP/">CHKP</a>) 
Headquartered in Tel Aviv, Israel, CHKP develops, markets, and supports a range of products and services for IT security globally. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoint information, and IOT solutions.
On October 1, CHKP announced the completion of its acquisition of Cyberint Technologies Ltd., a highly innovative provider of external risk management solutions. This acquisition is likely to boost the company's competitive edge and improve stock performance.
On September 2, CHKP announced the release of its innovative Portal designed for managed security service providers (MSSPs) and distributors. The newly unveiled platform significantly simplifies service delivery and increases the ease of doing business with the company.
In the fiscal second quarter that ended June 30, 2024, CHKP's total revenues stood at $627.40 million, up 6.6% year-over-year. The company's non-GAAP net income and earnings per share increased 3.2% and 8.5% over the prior-year quarter to $246 million and $2.17, respectively.
Analysts expect Check Point's EPS and revenue for the quarter ended September 30, 2024, to increase 8.8% and 6.5% year-over-year to $2.25 and $635.12 million, respectively. The company has an excellent earnings surprise history; it surpassed the consensus EPS estimates in each of the trailing four quarters.
CHKP shares have surged 52.5% and 34.4% year-to-date over the past year to close the last trading session at $205.28.
CHKP's <a href="https://stocknews.com/powr-ratings/">POWR Rating</a>s reflects its robust outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
CHKP has an A grade in Quality and is ranked #5 out of 22 stocks in the <a href="https://stocknews.com/category/software-security/">Software Security</a> industry.
<a href="https://stocknews.com/stock/CHKP/">Click here</a> to access additional CHKP ratings for Stability, Growth, Sentiment, Value, and Momentum.
Stock #2: Trend Micro Incorporated (<a href="https://stocknews.com/stock/TMICY/">TMICY</a>) 
Based in Tokyo, Japan, TMICY specializes in development and sale of computer security products and services. The company's product offering includes personal computer (PC) clients, local area network (LAN) servers, Internet servers, and more.
On August 7, the company launched a new solution, which was included in TMICY's Vision One&#x2122; Sovereign Private Cloud — powered by NVIDIA Corporation (<a href="https://stocknews.com/stock/NVDA/">NVDA</a>) NIM microservices, part of the NVDA AI Enterprise software platform. This would allow organizations to boost the potential of the AI era while maintaining business resilience.
On August 6, TMICY announced its partnership with GMI Cloud, a leading AI-native GPU cloud provider known for its vertically integrated platform optimized for Artificial Intelligence (AI) and Machine Learning (ML) workloads.
TMICY's <a href="https://www.investopedia.com/terms/n/netsales.asp">net sales</a> for the six months that ended June 30, 2024, stood at ¥134.53 billion ($913.56 million), up 12.5% over the prior-year quarter. Its operating income increased 34.4% year-over-year to ¥24.44 billion ($165.93 million). In addition, net income attributable to owners of the parent rose 50.9% from the prior year quarter to ¥17.90 billion ($121.52 million).
Analysts expect TMICY's revenue for the fiscal third quarter (ending September 2024) to increase 9.9% year-over-year to $465.67 million. Its EPS for the same quarter is expected to register a robust growth of 907.1% from the previous year's period, settling at $0.50. Plus, the company has surpassed its consensus revenue estimates in three of four trailing quarters.
TMICY's stock has gained 44.8% over the past year and 17.9% over the past three months, closing the last trading session at $53.63.
It's no surprise that TMICY has an overall rating of A, equating to a Strong Buy in our POWR Ratings system.
The stock also has a B grade for Stability and Quality. It is ranked #2 out of 22 stocks in the same industry.
Beyond what is stated above, we've also rated TMICY for Growth, Value, Momentum, and Sentiment. Get all TMICY ratings <a href="https://stocknews.com/stock/TMICY/">here</a>.
Stock #1: Radware Ltd. (<a href="https://stocknews.com/stock/RDWR/">RDWR</a>) 
Headquartered in Tel Aviv, Israel, RDWR and its subsidiaries develop, manufacture, and market cybersecurity and application delivery solutions for cloud, on-premises, and software-defined data centers worldwide. The company operates in two segments: Radware's Core Business and The Hawks' Business.
On October 3, 2024, RDWR introduced a new Threat Intelligence Service that is aimed at enhancing threat detection for security operation teams.
During the fiscal second quarter that ended June 30, 2024, RDWR's revenues rose 2.5% year-over-year to $67.28 million. Its non-GAAP gross profit increased 2.4% year-over-year to $55.29 million. Its non-GAAP operating income grew 224.9% from the year-ago value to $6.28 million. In addition, the company's non-GAAP net income and EPS came in at $8.79 million and $0.20, up 94% and 100% over the prior-year quarter, respectively.
For the quarter ended June 30, 2024, RDWR's revenue is expected to increase 11% year-over-year to $68.36 million. Its EPS for the same quarter is expected to increase 183.2% year-over-year to $0.20. It surpassed the consensus EPS estimates in three of the trailing four quarters.
Over the past year, the stock has gained 45.9% to close the last trading session at $23.26.
RDWR's positive outlook is reflected in its POWR Ratings. The stock has an overall rating of A, equating to a Strong Buy in our proprietary rating system.
It has an A grade for Quality and a B for Growth and Sentiment. It is ranked #1 in the same industry.
To see RDWR's Value, Momentum, and Stability ratings, <a href="https://stocknews.com/stock/RDWR/">click here</a>.
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CHKP shares were unchanged in premarket trading Tuesday. Year-to-date, CHKP has gained 34.35%, versus a 23.95% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/chkp-tmicy-rdwr-3-cybersecurity-stocks-to-buy-as-digital-threats-multiply/>3 Cybersecurity Stocks to Buy as Digital Threats Multiply</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Cybersecurity Stocks to Buy as Digital Threats Multiply

Trend Micro ADR reports Q3 results

Trend Micro Incorporated (TMICY) Q3 2024 Earnings Call Transcript

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TENB

TMICF

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