2023-11-11 06:45:00 ET
Research firm McKinsey & Company predicts cyber attacks will cause a whopping $10.5 trillion in damage per year by 2025, rising 300% from the amount of damage they caused in 2015.
To mitigate risks, McKinsey says the corporate sector should be spending as much as $2 trillion per year on cybersecurity software right now. But there's a problem: Companies are on track to spend just $189 billion in 2023.
That does, however, create a huge opportunity for cybersecurity providers. Tenable (NASDAQ: TENB) is a leader in vulnerability management, which is a segment of the industry focused on proactive forms of protection. The company is valued at just $4.3 billion as of this writing, and here's why it stands to benefit from the $1.8 trillion gap in corporate cybersecurity spending.
For further details see:
A $2 Trillion Opportunity Is Looming for This Super Stock. Here's Why It's a Buy Right Now