PING - Baird parses Biden cybersecurity order for impacted stocks

Yesterday in Notable Calls, Wedbush weighed in on likely positive impacts for cloud software stocks from President Biden's executive order on cybersecurity. Now Baird has taken a shot at unpacking implications for software names. It's "imprudent to chase names near-term solely with the expectation that they will see a material improvement in business conditions resulting from recent attacks," analyst Jonathan Ruykhaver writes, but that doesn't mean that some technologies aren't more in focus than others in light of recent events. As other analysts have noted, the Colonial Pipeline ransomware incident is just one of several in recent months, Baird says, pointing to SUNBURST and the Microsoft Exchange Server attack as examples. Digging into what it sees as the key parts of the executive order, Baird focuses primarily on software-as-a-service solutions, given some emphasis in the order around cloud and Zero Trust, and general calls for modernization. The order's quite clear

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Baird parses Biden cybersecurity order for impacted stocks