3 Top Cybersecurity Stocks to Buy in July

In early July, the largest ransomware attack ever shut down up to 1,500 businesses worldwide. At the same time, Russian hackers allegedly tried to infiltrate the Republican National Committee.

Ransomware attacks rose 150% in 2020, according to the cybersecurity company Group-IB, and the recent cyber attacks indicate the situation could worsen this year. President Joe Biden already signed an executive order in May in an effort to strengthen America's cybersecurity defenses, but it could require billions of dollars in fresh spending to block these devastating attacks.

Last month, I highlighted CrowdStrike Holdings, Palo Alto Networks, and Cisco Systems as three promising plays that stand to benefit from this secular trend. Today, I'm adding three more cybersecurity stocks to that list: Cloudflare (NYSE: NET), Fortinet (NASDAQ: FTNT), and Check Point Software Technologies (NASDAQ: CHKP). Let's find out a bit more about these three companies.