Password to Gains in 2016: 6 Cyber Security Stocks

Desperate calls for security in the cyber space can be heard loud and clear almost all over the world. An entire industry – cyber security – has not only cropped up in recent years, it is in fact emerging as the fastest-growing corner of the broad technology space. With extensive adoption of Internet usage in mobiles and computers, and ceaseless cyber-attacks, the need to secure data has increased, resulting in growing need for a safe cyber space.

This is especially true as cyber-warfare and espionage attacks are expected to rise in frequency. Attacks on Internet of Things (IoT) devices will rise rapidly due to whopping growth in the number of connected objects, poor security and the high value of data on IoT devices. Additionally, new mobile technologies will allow more mobile attacks.

As such, growing awareness on the need to protect against these cyber threats will continue to propel spending on information security. In fact, the industry has really exploded over the past several years, moving from a niche industry to something that every company needs to consider. According to Gartner, global security spending will increase 4.7% year over year to $75.4 billion in 2015 with some analysts projecting the global market to grow from $77 billion in 2015 to $170 billion by 2020.

As per the report from Markets and Markets, the cyber security market will grow at a compound annual growth rate (CAGR) of 9.8% from 2015 to 2020.

As the industry is flourishing with ample growth potential in the years to come, many investors may want to jump into the space to tap the spending boom and growing demand for cyber security. For them, we have highlighted six stocks that could fetch big money for investors in 2016. These stocks have a favorable Zacks Rank of #1 (Strong Buy), #2 (Buy) or #3 (Hold) and a Growth Style Score of B or better. Additionally, these have earnings growth rates in double digits and a market cap of above $1 billion