Wedbush Analyst: "Cybersecurity spending will increase 20% in 2021 Due To SolarWinds."



iStock-1199334120Wedbush senior tech analyst Dan Ives says cybersecurity spending will increase by 20% in 2021 as more companies ramp up protection following the SolarWinds hack that compromised state agencies and corporations including Microsoft.

Ives said he's very bullish on cybersecurity stocks given a "perfect storm of demand" in the field. He raised price targets for several cybersecurity stocks in a Sunday note. Names specifically in advanced threat detection, zero trust architecture, data security, and identity security will see a near-term surge of budget allocation based on the nature of the SolarWinds hack, said Ives.  Story at BusinessInsider:

https://markets.businessinsider.com/news/stocks/cybersecurity-stock-outlook-impact-of-solarwinds-attack-further-acceleration-wedbush-2020-12-1029912129


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