Do You Have These Top Cybersecurity Stocks On Your Watchlist? 

Cybersecurity stocks could be one of the major sectors that come to mind when one looks for secular growth themes in the stock market. With increasing cloud adoption, the amount of sensitive and important data at risk is also on the rise. And this was in part accelerated by the digitalization efforts during the pandemic over the last two years. Besides, notable cybersecurity incidents have served as a reminder to organizations of the need to bolster their cyber defense. Therefore, the demand for cybersecurity has been skyrocketing over the past few years. 

For instance, we saw Siemens and Zscaler (NASDAQ: ZS) announce a partnership to accelerate secure digitalization for Operational Technology. This new proven solution will combine the Zscaler Zero Trust Exchange™ cloud security platform and Siemens’ devices. So, it will enable customers to securely manage and analyze production OT infrastructures and their applications while having control over quality assurance at any workplace. 

Whether we like it or not, the world will likely continue to see an increasing need for cybersecurity. As a result, investors could be keeping a close watch on Okta (NASDAQ: OKTA) which will be announcing its first-quarter financials later this week. Should the industry pique your interest, here are some of the top cybersecurity stocks worth noting in the stock market today. 

Cybersecurity Stocks To Watch Right Now

Palo Alto Networks

top cybersecurity stocks (PANW stock)

Let us start with one of the largest cybersecurity companies in the world, Palo Alto Networks. In essence, it is a global leader in the cybersecurity space. Through its expertise in cloud tech, the company caters to consumer and professional markets across the board. It can do this via its work in artificial intelligence (AI), analytics, automation, and orchestration. All of which the company delivers via a one-stop platform to digitally protect and empower its clients. PANW stock has risen by more than 40% over the past year.

Last week, Palo Alto announced that Oracle (NYSE: ORCL) has chosen the company’s VM-Series Next-Generation Firewall as the technology to power the Oracle Cloud Infrastructure (OCI) Network Firewall. As more customers migrate their existing Oracle applications to OCI, the need for best-in-class security goes hand in hand. Both companies have been working together since 2019 to address this need for OCI customers. Also, it will continue to provide solutions that customers need to secure their cloud adoption journey. So, would you consider PANW stock as a top cybersecurity stock to watch?

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FTNT stock

Similar to Palo Alto Networks, Fortinet is a company that develops and sells cybersecurity solutions. Its network security appliances are managed by its FortiOS network operating system. Aside from that, the company also offers managed intrusion prevention system and Web application firewall rules delivered by FortiGuard Labs as an overlay service. Mirroring Palo Alto’s stock trajectory, FTNT stock has also risen by approximately 40% over the past year.

Last Tuesday, Fortinet announced new self-learning AI capabilities in a new network detection and response offering. The FortiNDR leverages powerful artificial intelligence and pragmatic analytics to enable faster incident detection and faster threat response. Besides that, FortiNDR also integrates with the Fortinet Security Fabric as well as API integrations with third-party solutions. Thus, enabling a coordinated response to discovered threats. All in all, it is understandable why investors are constantly on the lookout for FTNT stock. With that said, would you consider it a viable investment right now?


TENB stock

Following that, we have the cyber exposure solutions company, Tenable. For those unaware, it manages, measures, and compares cybersecurity risk in the digital era. Its platform offerings provide visibility into security issues. This includes vulnerabilities, misconfigurations, internal and regulatory compliance violations, and other indicators. Investors should note that the company was ranked as the top worldwide market share for device vulnerability management in 2020. This marks the third consecutive year where it dominates the category. TENB stock has also been on a healthy momentum lately, rising more than 11% within the past week.

Earlier this month, Tenable announced that Terrascan has been integrated into Nessus, a leading open-source cloud security analyzer that helps developers secure Infrastructure as Code. As a result, it would continue to further the company’s broader cloud strategy while helping enterprises secure their full cloud stacks. Well, as more organizations move ahead with their cloud, ‘as code’ and containerization projects, their attack surface would also simultaneously increase. Therefore, this combined solution will let them continue to innovate while addressing security concerns. Given these encouraging developments, should TENB stock warrant a place on your watchlist?

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QLYS stock

To sum it up, let us look at the cloud-based cybersecurity provider, Qualys. The company’s cloud platform is known for delivering information technology (IT), security, and compliance solutions. These solutions would enable organizations to identify security risks to their IT infrastructure and protect their IT systems and applications from imminent cyber-attacks. It is worth noting that QLYS stock has been gaining traction in the stock market recently. Over the past week, the company stock has soared by more than 14%. Now, it is possible that investors are optimistic about its upcoming Qualys Security Conference that will be held on June 7-8 in tandem with the RSA Conference.

Recently, Qualys announced that it will unveil significant updates to its Vulnerability Management, Detection, and Response (VMDR) solution. On top of that, the company claims that these new enhancements may redefine how enterprises manage cybersecurity risk with an unprecedented capability to remediate and prioritize at scale. Aside from that, the company also added Custom Assessment and Remediation to its Cloud Platform. This will give security architects access to custom scripts that can be natively integrated with other Qualys solutions. All things considered, would you bank on the future of QLYS stock?

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