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2 Cybersecurity Stocks Well-Positioned Amid Increased Ransomware Attacks

These stocks can be on investors’ watchlists as organizations spend more IT security dollars.

Sachin Nagarajan

Nov 23, 2021

Mentioned: Fortinet Inc (FTNT) , Palo Alto Networks Inc (PANW) , Okta Inc (OKTA) , Zscaler Inc (ZS) , CrowdStrike Holdings Inc (CRWD) , Check Point Software Technologies Ltd (CHKP)

We can expect a ransomware attack every two seconds in 2031--an increase from every 11 seconds in 2011, according to Cybersecurity Ventures. Ransom payments and related costs will also skyrocket over the next decade, with estimated costs growing to $265 billion in 2031 from $65 billion in 2021.

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Sachin Nagarajan does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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