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Amid the increasing need for cybersecurity, IronNet, Inc. (IRNT) has been gaining traction. Shares of the company garnered investors’ attention, reaching a year-to-date high on September 16 after the company reaffirmed its fiscal year 2022 revenue and annual recurring revenue guidance on September 14. However, the stock could not sustain its momentum and has slipped 8.5% in price over the past five days and 5% intraday to close its last trading session at $29.41. Furthermore, analysts expect its EPS to remain negative at least until the next fiscal year.
However, given the expanding market for cybersecurity solutions, we think investors looking to cash in on the industry’s solid growth prospects could consider betting on Check Point Software Technologies Ltd. (NASDAQ:CHKP), Trend Micro Incorporated (TMICY), and Radware Ltd. (RDWR).
