Increasingly sophisticated and frequent cyberattacks cost businesses millions of dollars each month. Businesses are responding by spending more on cybersecurity, according to Bank of America forecasts, which means new opportunities for a handful of tech companies in the sector. “We foresee an increase in cybersecurity budgets for industries such as healthcare, financial services, and industrials, and note that many organizations have already started implementing multi-vendor implementations … gaps in coverage and detection. to make sure there are no threats that could be compromised,” bank analysts said in a Dec. 8 memo to clients. The increase in demand seems to come at a time of mass layoffs, rising bankruptcies and tightening financial conditions. This new trend raises questions such as: Will cybersecurity companies be able to maintain profitability during a recession?Michael Loukas, CEO of Active Manager TrueShares Technology and AI & Deep Learning ETF Issuer TrueMark Investments, said: I’m here. Loukas, who owns cybersecurity stocks such as CrowdStrike and his Zscaler fund, said that as more businesses move to the cloud and cybersecurity threats evolve, businesses will seek protection regardless of economic conditions. He said he will continue to prioritize spending. “Given the tailwinds … cybersecurity firm fundamentals will be some of the last to slow in the recession, but they will also be the first to recover.” We have selected stocks in sectors that offer potential investment opportunities. The stocks listed below meet the following criteria: Constituent of the Indxx Cybersecurity Index At least 10 analysts cover each stock At least 7 out of 10 analysts Rated ‘buy’ Analysts expect sales growth for UK-US companies in 2023 Darktrace tops the list. Analysts expect London-listed stocks to rise 89% next year, according to FactSet data. The company’s stock has been on a roller coaster ride this year after a failed takeover attempt by private equity firm Thoma Bravo. Shares of Silicon Valley-based Zscaler and Palo Alto Networks are also expected to rise 62% and 45%, respectively. Meanwhile, Mizuho analysts say Texas-based cybersecurity firm CrowdStrike is the “unparalleled” market leader. The company’s shares are expected to rise 61% to $175. “CRWD’s Cloud His platform remains highly differentiated and its market penetration power is unmatched in the industry, allowing the company to scale very well beyond the traditional endpoint his security market.” I’m sure. [free cash flow] The profit margin remains at 30%,” said a Mizuho analyst.