As 2018 draws to a close, here the Investing News Network looks at the three top cybersecurity stocks on the NASDAQ.
Cybersecurity is one of the most vital components when it comes to technology, and as new developments continue to change our lives the cybersecurity space will also keep growing.
Our 2018 cybersecurity trends article highlights that industry leaders don’t see cybercrime abating anytime soon. Understandably, companies fighting this activity are gaining attention, and some were able to see positive share price gains this year.
With that in mind, here we look at 2018’s three top cybersecurity stocks on the NASDAQ. The companies listed below had market caps between US$50 and US$500 million as of December 19, 2018, and all data was compiled on that day using TradingView. Read on to learn more about them.
1. KEYW Holding (NASDAQ:KEYW)
Current price: US$7.73; year-to-date gain: 31.69 percent
KEYW Holding was the year’s top cybersecurity stock on the NASDAQ. It is a cybersecurity company that specializes in national security, and serves the intelligence, cyber and counterterrorism communities. It offers five different solutions, including geospatial, engineering, analysis and operations, cyber and cloud and data analytics.
Founded in 2008 and headquartered in Maryland, the company now has over 2,000 employees and has 20 locations around the US. In its latest quarterly release, KEYW Holding reported revenue of $126.7 million and said it is “well-positioned to close the year with solid momentum heading into 2019.”
2. Identiv (NASDAQ:INVE)
Current price: US$4.10; year-to-date gain: 22.75 percent
Next on our top cybersecurity stocks list is Identiv, a company that provides both secure identification as well as physical security to clients in government, enterprise, healthcare, transportation, energy, aviation, telecommunications, banking and education. Headquartered in California, Identiv employs more than 200 staff, and boasts 400 partners with over 5,000 customers around the globe.
The company was formed from the combination of SCM Microsystems, Bluehill ID and Hirsch Electronics, and it describes itself as a leader in the space. In Q3 Identiv reported revenue growth of 30 percent year-on-year, with CFO Sandra Wallach saying that 2019 should bring growth in the company’s premises, identity and credentials segments.
3. Mitek Systems (NASDAQ:MITK)
Current price: US$9.82; year-to-date gain: 9.72 percent
Mitek Systems is last on our list of top cybersecurity stocks. This company specializes in mobile identity verification, and has software solutions that enable users to capture and then verify their identity via their mobile device. The company also makes use of artificial intelligence and machine learning to continue to advance its technology offerings in the space.
The company’s target demographics are financial institutions, payment companies and “other businesses operating in highly regulated markets to mitigate financial risk and meet regulatory requirements while increasing revenue from digital channels.” Mitek has six offices spanning Europe and the US, and it claims that its software is being used by 80 million consumers.
For the latest quarter, Mitek reported record revenue of $21 million, an increase of 63 percent year-on-year. Chairman Bruce Hansen explained that increase was “driven in part by continued adoption of our trusted Mobile Verify ID verification solution.”
Which cybersecurity stock would you invest in? Tell us what you think in the comments.
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Securities Disclosure: I, Amanda Kay, hold no direct investment interest in any company mentioned in this article.