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Highlights
- World Password Day is celebrated every year on the first Thursday in May.
- In Canada, there are a lot of companies offering cybersecurity solutions, and we have shortlisted stocks of two such companies that can be bought for under $10.
- BlackBerry's debt-to-equity (D/E) ratio is 0.39, which means that the software provider had 39 cents of debt for every dollar of equity.
World Password Day is celebrated every year on the first Thursday in May. It was reportedly started in 2013 by Intel Security to raise awareness about the need for password security.
With the rise of technology, cyberattacks are becoming rampant, and it is essential to stay alert and maximize password security in today's day and age.
Since the COVID-19 pandemic, almost everything went digital and therefore, it is crucial to keep a secure password for data privacy and security.
Also Read: Lightweights in 2022: 5 junior Canadian stocks to buy in May
In Canada, there are a lot of companies offering cybersecurity solutions, and we have shortlisted stocks of two such companies that can be bought for under $10.
Let's look at the Toronto Stock Exchange-listed stocks:
BlackBerry Limited (TSX:BB)
Once a leading smartphone company, BlackBerry phones were known for high-end security. However, the smartphone business declined, and the company shut it completely.
Despite the fall, BlackBerry emerged as one of the leading providers of cybersecurity solutions and its software is known to secure end-to-end secure communication for enterprises.
Throughout the trading session on May 4, the BB stock remained in the positive zone and closed 3.3 per cent higher at C$ 7.81 per share.
BlackBerry's debt-to-equity (D/E) ratio is 0.39, which means that the software provider had 39 cents of debt for every dollar of equity. Generally, a low debt-to-equity is considered good as the higher the D/E ratio, the greater the risk of bankruptcy if the business declines.
In Q4 2022, the total revenue of BlackBerry was US$ 185 million, of which cybersecurity revenue was US$ 122 million.
Absolute Software Corporation (TSX:ABST)
The Vancouver-based software company provides a platform for the management and security of computing devices. The majority of the revenue comes from the United States, but the company has a presence in Canada and the rest of the world.
On April 20, Absolute Software declared a quarterly dividend of C$ 0.08 per share, and it would be payable on May 25 to shareholders of record as of May 12.
In Q2 2022, the software company's revenue surged 64 per cent year-over-year (YoY) to US$ 49 million. Meanwhile, the net dollar retention was 107 per cent in the same period.
Also Read: Activision soars as Berkshire ups stake: Does Buffett own TSX stocks?
Please note, the above content constitutes a very preliminary observation or view based on digital trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
