Unprecedented cyber criminality and increased risk exposure have driven a significant increase in cyber security spending by business enterprises. The increasing need for privacy-related solutions has fostered a strong business environment for cybersecurity providers Radware (NASDAQ:RDWR) and Proofpoint (NASDAQ:PFPT). But let’s find out which of these stocks is a better buy now. Radware Ltd. (RDWR) and Proofpoint, Inc. (PFPT) are cybersecurity and cloud security solutions providers that operate worldwide. Based in Tel Aviv, Israel, RDWR provides security updates subscriptions, a real-time network attack mitigation device, and cyber-command and control applications, among other cloud protection services. U.S.-based PFPT offers protection against advanced and targeted threats, security optimized cloud architecture solutions, and integrated email security solutions.
Society's growing dependency on digital tools has increased the frequency and intensity of cybercrime activities, such as phishing scams, malware attacks, and hacking campaigns. In response, businesses and organizations worldwide have been channeling more spending into advanced cybersecurity technologies to defend their critical, in-house security infrastructure. The desire to protect valuable client data from sophisticated cyberattacks has driven higher demand for cybersecurity solutions providers like RDWR and PFPT.
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