The prominence of cybersecurity persists in corporate boardrooms and headlines, reflecting the heightened reliance of numerous companies on the integration of digital technologies and infrastructures within their business models.
The growing threat of cyberattacks have presented both risks and opportunities for companies in the Nasdaq:
The speed, scale, and sophistication of these attacks are becoming unparalleled.
Organizations are actively seeking cybersecurity solutions to combat these threats.
Boards of directors and CEOs are increasingly involved in understanding and mitigating cybersecurity risks.
The demand for security solutions has been fueled by the rise in high-profile ransomware attacks, highlighting the need for robust security measures.
Several companies have introduced cybersecurity solutions and showcased AI-driven intelligence solutions to address these challenges.
Overall, the threat landscape of cyberattacks requires organizations to prioritize security and adopt comprehensive cybersecurity measures
In looking at Q3 earnings calls:
MSFT
Date: 2023-10-24 | Readability: 13.35 | 5 day Performance: 2.05% | Sentiment: -19.85%
“Now on to security. The speed, scale, and sophistication of cyberattacks today is unparalleled and security is the number one priority for CIOs worldwide. We see high-demand for Security Copilot, the industry's first and most advanced generative AI product, which is now seamlessly integrated with Microsoft 365 Defender.”
OKTA
Date: 2023-11-29 | Readability: 9.93 | 5 day Performance:2.71% | Sentiment: -37.98% |
“And those efforts, I'm simplifying a little bit, but often have gone into product security, infrastructure, making sure that was very, very solid. And we know now that we -- that's not good enough. We have to do more. We know that Okta is one of the most targeted companies in the world because of the leadership position we have in this important market of identity access management, and that makes us, along with other cybersecurity companies, extremely targeted and relentlessly attacked. And we have to raise our game to be able to defend ourselves and our customers against those attacks. So, we're really upping the level of priority, and it's very clear to everyone at Okta that for the end of this year and going into next year, that the number one priority is securing Okta and securing our customers, full stop.”
PANW
Date: 2023-11-15 | Readability: 10.23 | 5 day Performance: 3.06% | Sentiment: -54.88% |
“Unfortunately, these bad actors remain elusive with no apparent significant increase in convictions and high-profile attacks, and therefore not surprisingly this malicious activity continues. At the same time, U.S. publicly listed companies in the Board are confronted with new SEC disclosure requirements that are on prompt public reporting a material cybersecurity incident, the enhanced oversight responsibility that comes with them. This result is a continued focus across organizations and understanding security posture, cybersecurity risks, and how to mitigate this risk effectively. This increasingly involves not only the CISO, but the entire IT organization, legal, finance, and the CEO and the full Board of Directors. This pace of malicious activity and the Board-level focus on cyber security risk is fueling a strong demand environment.”
CDW
Date: 2023-11-01 | Readability: 14.39 | 5 day Performance: 4.44% | Sentiment: -26.74% |
“Armed with our full portfolio, which includes proprietary cloud-based health care solutions, the team drove a significant increase in cloud spend. Our broad portfolio of solutions also contributed to a double-digit increase in security spend growth as they help customers address heightened cybersecurity needs. Needs driven by the disproportionate percentage of all ransomware attacks that target healthcare organization.”
AKAM
Date: 2023-11-07 | Readability: 12.54 | 5 day Performance:1.95% | Sentiment: -51.56% |
“Security revenue grew 20% year-over-year in Q3. The acceleration in security growth was driven in part by especially strong demand for our market-leading Guardicor segmentation solution as enterprises confront the ever-present threats from malware and especially ransomware. CISOs and corporate Boards everywhere have seen the recent headlines about devastating ransomware attacks, including at 2 casino hotels in Las Vegas, a major manufacturer of cleaning products in the U.S. and at a multinational provider of systems for smart buildings. One of them reportedly paid 15 million to get ransomware out of their systems. Another is reportedly spending 25 million to deal with the after effects and a third has reported more than 100 million in losses from the attack.”
FFIV
Date: 2023-10-24 | Readability: 12.14 | 5 day Performance:0.66% | Sentiment: -28.18% |
“Our standalone security product revenue grew 5% to approximately 475 million. We are seeing good traction with the lower end anti bot offering delivered through Distributed Cloud services as well as from security on NGINX. Our FY ‘23 security revenue growth was affected by customer spending caution, including stalled transformational projects and the underperformance of advanced anti bot anti-fraud solution as I mentioned previously.”
CRWD
Date: 2023-11-28 | Readability: 14.4 | 5 day Performance:11.79% | Sentiment: -18.64% |
“In Q3, CrowdStrike was awarded a perfect 100% across protection, visibility and analytics detections in MITRE's latest ATT&CK testing in industry-first; recognized as Gartner Customers' Choice and one of the highest-rated in their latest Peer Insights Voice of the Customer for EPP report; named a Leader in the Forrester Wave for Endpoint Security; and positioned as a leader in the IDC Vulnerability Management MarketScape. Our leadership position is translating into record demand for our Exposure Management solution in its first quarter on the market. Our market presence in open platform approach to XDR is a uniting force in cyber security.”
HON
Date: 2023-10-26 | Readability: 13.65 | 5 day Performance:4.5% | Sentiment: 22.55% |
“Overall, organic growth of approximately 20% in the third quarter was supported by strength in connected industrial, connected buildings, cyber security, and connected aircraft. Orders growth above 20% in the quarter remains a powerful indicator of the continued robust demand for HCE offerings. In October, we held the latest installment of Honeywell Connect, where we conducted 29 technology demonstrations to a group of 200 customers.”
5 Day Performance is the performance after the earnings call date
Sentiment score is financial sentiment,-100 to 100 calculated using Loughran-McDonald lexicon
Readability score is based on Flesch-Kincaide Grade Score, where the score equates to the grade level education required to under the text.
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