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The cybersecurity industry is all set to grow at a significant rate over the course of the next years as the world gets more and more connected. In such a situation, one can also be sure that cybercrimes are also going to go up and estimates suggest that the value of cybercrime-related losses could touch trillions of dollars in 2025.
Hence, it goes without saying that cybersecurity companies are going to gain importance in a big way and hence, investors could do well to take a look at some of the stocks in the sector.
As the cost of protecting data rises, the spending on cybersecurity is going to rise among governments, enterprises, institutions, and individuals. Consequently, the earnings of cybersecurity companies are expected to go up as well. This article gives you a lowdown on two stocks from the sector that could be added to the watch lists at this point.
Safe-T Group Ltd (NASDAQ:SFET) – The first one that ought to go into the watch lists of investors at this point in time is the Safe-T Group Ltd stock. As it happens, the company was in the news this week as well after it made a key announcement back on Wednesday. The company provided an update with regards to its preliminary projections for the first half of the year.
The numbers were presented based on a preliminary but unaudited review that had been conducted by Safe-T Group. The company announced that in the second fiscal quarter that ends on June 30, 2022, it expects to bring in revenues to the tune of as much as $4.6 million and that would reflect a year-on-year rise of $1.8 million. It would reflect a year-on-year rise of a whopping 150%.
The revenues for the first six months of the year that ended on June 30, 2022, are expected to be more than $8.6 million as opposed to revenues of $3.1 million in the prior-year period. That would reflect a year-on-year rise of as much as 175%. Safe-T Group added that the continued growth in revenues was a function of its investment in its privacy-related products.
Sekur Private Data Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) was in focus as the stock went up over 5% on high volume. The company is working on making its products far more useful for its customers as well and such an announcement was made by Sekur Private Data last week on June 17.
The company announced at the time that it had added a ‘Chat by Invite’ feature to its SekurMessenger product. By way of that enhancement, it would be possible for Sekur users to invite non-Sekur users and chat privately and securely. It would be a significant convenience for the users and would enable them to chat without having to leave the company’s platform.
Signal Advance Inc (OTCMKTS:SIGL) – The other company that could well be looked into at this point is Signal Advance Inc. There has been no news about the company in recent times but investors could do well to keep an eye out for the news about it. Last year on July 15 the company announced that all the resolutions that it had put to its shareholders at the annual general meeting had been passed. It was an important announcement at the time and may have been noticed by investors.