11 Best Cybersecurity Stocks to Buy According to Wall Street Analysts

6. General Dynamics Corporation (NYSE:GD)

Average Analyst Upside: 21.45%

Number of Hedge Fund Holders: 48

General Dynamics Corporation (NYSE:GD), headquartered in Reston, Virginia, is a leading American aerospace and defense company, specializing in advanced encryption and cybersecurity solutions critical for its work with the U.S. government. The company provides both hardware-based cybersecurity tools, such as encryptors, and software-focused solutions, including SaaS offerings.

Earlier this year, the company’s business unit, General Dynamics Information Technology (GDIT), was awarded a $185 million task order to deliver cybersecurity services for the U.S. Air Force Civil Engineer Center. Issued by the 772nd Enterprise Sourcing Squadron at Tyndall Air Force Base, the contract involves researching and developing innovative methods to mitigate cybersecurity threats targeting the Air Force’s industrial control systems. These systems encompass building automation, life safety, utility monitoring, and airport control.

In Q3 2024, General Dynamics Corporation (NYSE:GD) reported robust financial performance, with revenue rising 10.4% year-over-year to $11.67 billion. This growth was driven by exceptional gains in the Aerospace (up 22%) and Marine Systems (up 20%) divisions. Year-to-date, the company has generated $34.4 billion in revenue and $2.63 billion in net income. Its total backlog increased to $92.6 billion, with an all-time high estimated contract value of $137.6 billion.