Increasing cybercrimes have heightened the need for cybersecurity globally. Governments and private companies alike have been actively taking steps to secure their systems. Investors drawn to IronNet could look at Radware, Trend Micro and Check Point. These have higher growth prospects than IronNet. Let’s discuss.Cybercrimes are on the rise. A national security memo was issued by President Biden in July. It aimed to strengthen cybersecurity and critical infrastructure. Following a ransomware breach of networks in the United States and an attack by Colonial Pipeline on the pipeline, the company was forced to stop the operation of approximately 5,500 miles.

IronNet, Inc., (IRNT), has gained traction amid the growing need for cybersecurity. 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. The stock has lost 8.5% and fallen 5% over the last five trading days to end its previous session at $29.41. Its EPS is expected to be negative for at least the next fiscal year, according to analysts.

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:), Trend Micro Incorporated (TMICY), and Radware Ltd. (RDWR).

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