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Summary
- Blackberry collected revenue of US$893 million during the FY2021 ended in February.
- McAfee’s net revenue climbed 25% to US$442 million in Q1.
- Fortinet clocked net income of US$107.2 million at the end of the March quarter.
Cyber-security is a major area of interest today. Threats posed by hackers have never been so destructive as it is now.
Companies are increasing their cyber-security to protect their installations. The Colonial Pipeline attack is only a grim reminder of what hackers can do, even in a developed country like the US. Supplies across the eastern board of the country were disrupted after the attack.
We explore here three cyber-security stocks to understand how they have performed over the months and their forward-looking plans.
BlackBerry Limited (NYSE:BB)
BlackBerry gained 43% YTD. It was trading at US$$10.305 per share at 2:25 pm ET on May 28, up 3.36% from the previous close.
The company has a market cap of US$5.6 billion.
BlackBerry collected revenue of US$893 million during the FY2021 ended February. It had around US$800 million in cash and registered a net loss of US$1.1 billion during the period.
The Ontario-based company was founded in 1984 to make advanced AI-enabled security and communication software for companies and the government.
The software protects data from hackers and other threats. BlackBerry security products are for smartphones, laptops, desktops, servers, vehicles, and industrial equipment.
In May, the company had committed to a five-year partnership with Canada’s Waterloo University to produce advanced security software and devices.
Source: Pixabay.
Also read: Why Did LIZHI Stock Plunge More Than 6% Thursday?
McAfee Corp. (NASDAQ:MCFE)
This California-based company has a market cap of US$10.87 billion and makes cyber-security products. McAfee stock jumped 48% YTD. It was priced at US$25.32 at 2:27 pm ET on May 28, a marginal decline of 0.08% from the previous close.
It provides cloud-based security products for its consumers. It makes anti-malware software for computers and smartphones to protect personal data and the IP addresses from online threats.
In March 2021, McAfee sold its enterprise segment to STG business consortium, and in December last year, it initiated the restructuring of its workforce, which is likely to complete in the third quarter of 2021.
McAfee’s net revenue climbed 25% to US$ 442 million in Q1 that ended on March 27, 2021.
In the year-ago quarter, it was US$354 million. The net income was US$ 94 million during the period.
Also Read: Twitter, Facebook, & SNAP: 3 Social Media Stocks On A Gaining Spree
Fortinet, Inc. (NASDAQ:FTNT)
Fortinet’s market cap is around US$35.5 billion. Headquartered in California, this cyber-security company provides services to government organizations and the corporate sector.
It sells software and security devices and subscription-based services, with products like FortiNet Security and FortiGate. Its share price gained 48% YTD. The stock was trading at US$218.61, up 1.05% from the previous close, 2:28 pm ET on May 28.
It clocked revenue of US$710 million and net income of US$107.2 million at the end of the March quarter. Its cash flow from operations climbed to US$798.4 million from US$315.9 million. It is also collaborating with Google for internet security.
