Cybersecurity Stocks To Radar For 2023: ZRFY, DGLY, IRNT, EVLV, TLS

Cyber-attacks, hacking, data breaches and other forms of dangers remain a long-standing problem for individuals, businesses, and institutions on a daily basis. As the world gets more and more digitized and connected, those dangers are only going to rise. As a result, most organizations are now spending heavily on cybersecurity in order to stay a step ahead of the increasingly sophisticated hackers. Cybersecurity Ventures projects global cybercrime costs to increase by 15% per year over the next three years, reaching $10.5 trillion annually by 2025, up from $3 trillion USD in 2015.

Consequently, the higher spending is going to make cybersecurity a sector worth watching for investors. This article is going to provide you with a look into 5 cybersecurity that may be worth looking into.

Zerify Inc (OTCMKTS: ZRFY) – Zerify Inc is a cybersecurity firm that had previously been known as StrikeForce Technologies Inc and has been in the business for more than two decades. The company, which is based out of New Jersey, is intent on providing solutions that help with data security and other forms of cyber threats.

The company offers its products not only to individual consumers but also to companies and government agencies. Some of the products include keystroke encryption and ‘out of brand’ authentication in addition to mobile-specific solutions.

Zerify is currently well-known for its secure video conferencing product, which does not depend on the use of a desktop and is in fact, entirely web-based. The product not only protects microphones, speakers, and cameras but also protects confidential data. These features are not offered by some of the more popular video conferencing products like BlueJeans, Zoom, or LogMeIn.

Earlier this month on January 12, the company projected strong revenues for the year 2023 and further growth beyond that. The Chief Executive Officer of the company Mark L Kay spoke about the projections as well. He noted that the management was ‘thrilled’ about the future of Zerify.

He added that the company could not have started the new year off on a stronger footing than being named the leader in the Secure Video Conferencing sector in a report that was published by Aite-Novarica Group, an industry analyst. Although it was a major recognition for the company, Kay stated that the report had also resulted in the emergence of new opportunities which are expected to boost revenues. He added that Secure APIs and Securing Endpoints are two areas in which the company could generate significant revenues. It was also pointed out by Kay that the video conferencing sector is set to hit a valuation in the $30 billion to $50 billion range by 2026.

The company has also been licensing its products and last year on December 19 it announced that the product Zerify Defender had been licensed by 21st Century Marketing Group. The product is going to help in the protection of client data. 21 Century is a consulting and brokerage benefits firm based out of New York.

Anthony Lombardi, who is the President of 21st century noted that the product Zerify Defender was necessary for secure video conferencing and for providing around-the-clock data protection. He went on to add it was also essential considering the remote work that is common among many companies nowadays.

Digital Ally Inc (NASDAQ:DGLY) – Another company that could be worth having a look into from the sector is Digital Ally Inc. The company mainly operates through a range of subsidiaries and is best known for video solution technology as well as animal and human health protection products. Since last May, the stock has not managed to go beyond $1 a share and after having failed to exceed it by January 3 this year, NASDAQ has given the company 180 more days to correct the situation.

IronNet Inc (NYSE: IRNT) – IronNet Inc is involved in the development and designing of products meant to provide protection from cyber-attacks. Earlier on in the month on January 4, the company was in the news after it announced that its product IronDefense, a network detection, and response product, was going to provide wider visibility as far as cyber threats were concerned.

Evolv Technology (NASDAQ:EVLV) – Evolv Technology is an innovative company that is involved in providing human security so as to secure major event venues. The company was in the news last week on January 19 when it announced that it had partnered with the James Island Charter High School located in Charleston North Carolina. The school would use the company’s technology for the purpose of making its campus safer.

Telos Corporation (NASDAQ:TLS) – Lastly, the Telos Corporation is an interesting proposition from the sector considering the fact that the company provides security solutions to many organizations which take their security seriously. The company announced on January 5 that it had entered into a partnership with SteelCloud LLC to help customers with NIFT Risk Management Framework compliance.

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