Frequent and increasingly sophisticated cyberattacks are costing companies millions of dollars every month. According to a Bank of America forecast, businesses have responded by spending more on cybersecurity, which means new opportunities for some tech companies in that area. “We forecast increased cybersecurity budgets for industries such as healthcare, financial services, and industry, noting that many organizations have begun deploying multiple vendors… The increase in demand appears to come even in a time of mass layoffs, rising bankruptcies and financial conditions, bank analysts said in a note to their clients on Dec. 8. That new trend raises the question: Can cybersecurity companies sustain earnings during a recession? Michael Loukas, CEO of TrueMark Investments, the issuer of TrueShares Technology , AI & Deep Learning ETF, said: “These businesses are certainly not recession resistant, but they are certainly recession resistant. networks like CrowdStrike and Zscaler, said that as more and more businesses move to the cloud and cybersecurity threats grow, Companies will continue to prioritize spending on protection regardless of economic conditions. “With headwinds created… the fundamentals of cybersecurity companies will be among the last to slow down during an economic downturn, but they will also be the ones first company to recover.” CNBC Pro has screened stocks in the sector that may offer promising investment opportunities. The stocks listed below meet the following criteria: They are part of the Indxx cybersecurity index At least 10 analysts track each stock More than 7 of those 10 analysts have a rating ” buy” Analysts expect sales to increase in 2023 Anglo-American company Darktrace topped the list. Analysts expect London-listed shares to rise 89% next year, according to FactSet data. The company’s shares have soared this year due to a failed takeover attempt from private equity firm Thoma Bravo. Shares of Silicon Valley-based companies Zscaler and Palo Alto Networks are also forecast to rise 62% and 45%, respectively. Meanwhile, analysts at Mizuho say CrowdStrike, a Texas-based cybersecurity company, is the “unmatched” market leader. Shares of the company are expected to rise 61% to $175. “We believe CRWD’s cloud platform remains highly differentiated, its go-to-market strength is unmatched in the industry, we believe the company can successfully expand beyond insurance markets.” traditional endpoint cryptography and [free cash flow] margin remains at ~30%,” said Mizuho analysts.