Do You Have These Cybersecurity Stocks On Your Watchlist?
Cybersecurity stocks have been heating up in the stock market lately. This is an industry that has seen increasing demand over the past few years. Whether we like it or not, the advancement of technology has inevitably increased the number of cyber threats today. Countless assets and important information are now being stored in the cloud. While this may be more convenient and efficient overall, companies are exposing themselves to new threats in cyberspace if they do not have strong cybersecurity measures. Therefore, it is understandable why cybersecurity stocks are often on the watchlist of many top investors.
Recently, there have been several significant acquisitions in the cybersecurity space. Yesterday, Kayesa, a premier provider of unified IT management and security software provider, announced that it is acquiring security and cloud-based software company Datto (NYSE: MSP). Therefore, Kaseya’s global customers can expect to see more functional and innovative solutions in the future. Meanwhile, SailPoint Technologies (NYSE: SAIL) is also set to be acquired by investment firm Thoma Bravo for $6.9 billion. SailPoint’s innovative products provide the necessary foundation for a robust security infrastructure for clients. All in all, we can see that the demand for cybersecurity is increasing by the day. So, here are some of the top cybersecurity stocks in the stock market today worth watching now.
Cybersecurity Stocks To Watch Right Now
- Crowdstrike Holdings Inc (NASDAQ: CRWD)
- Fortinet Inc (NASDAQ: FTNT)
- Zscaler Inc (NASDAQ: ZS)
- Palo Alto Networks Inc (NASDAQ: PANW)
- Mimecast Ltd (NASDAQ: MIME)
First up, we will be looking at one of the leading cybersecurity companies, Crowdstrike. Essentially, it provides cloud-delivered solutions for endpoint and cloud workload protection around the world. The company’s Falcon platform comes as a software-as-a-service subscription. It covers various security markets such as corporate endpoint security, cloud security, threat intelligence, identity protection, and many more. Despite trading sideways since the start of the year, CRWD stock has picked up some momentum lately. The stock has climbed more than 18% over the past month.
Last week, Crowdstrike announced that it has been granted a Provisional Authorization to Operate (P-ATO) at Impact Level 4 (IL-4). This is a huge milestone for the company as it can now deploy its Falcon platform to a broad range of Department of Defense(DoD) and Defense Industrial Base (DIB). Well, the company is still not resting on its laurels. Crowdstrike also announced that it is now working towards a DoD Impact Level 5 to give a boost to the security of National Security Systems. With that in mind, would you be adding CRWD stock to your watchlist?
Following that, we have another cybersecurity giant, Fortinet. The company’s network security appliances are managed by its FortiOS network operating system. Besides that, it also has a Cloud Security portfolio that includes securing applications such as email and Web. These are widely available for deployment in public and private cloud environments, including Amazon Web Services, Microsoft Azure, and Google Cloud, to list a few. Impressively, FTNT stock has soared more than 65% over the past year.
In March, Fortinet expanded its global secure SD-WAN presence with a number of new partnerships. This includes five new service providers, Etihad Atheeb Telecom Company “GO,” Microland, Radius Telecoms, Inc., Spectrotel, and TIME dotCom. Its security-driven networking approach to SD-WAN securely interconnects all offices to every datacenter, multi-cloud, and SaaS environment. Thus, serving as a foundation of a Zero Trust Edge architecture. Given this exciting development, should investors be keeping a close eye on FTNT stock right now?
Similar to many top cybersecurity companies out there today, Zscaler is a company that specializes in cloud cybersecurity. Its platform is designed on a zero-trust architecture that allows users and devices to safely access authorized applications and services in the cloud. Some of its notable cloud services include Zscaler Internet Access, Zscaler Private Access, and Zscaler Digital Experience. As such, its products and services are seeing increasing demand over the years.
Well, the company isn’t where it is today without a consistent drive for growth. Last month, Zscaler advanced its security service edge framework with three industry-first Zero Trust Network Access (ZTNA) innovations. This caters to IT and security teams to confidently replace legacy firewalls and virtual private networks (VPN). The company believes that its next-generation ZTNA approach may well be the simplest yet most comprehensive approach to securely access private applications and transform legacy network security. So, if you share the same sentiment, would you say that ZS stock is a viable investment today?
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Palo Alto is a global cybersecurity leader that is shaping the cloud-centric future with technology that is transforming the way people and organizations operate. Its ultimate mission is to be the cybersecurity partner of choice of every company, protecting our digital way of life. Today, it helps to address the world’s greatest security challenges with continuous innovations. With that, it envisions a world where each day is safer and more secure than the one before. PANW stock has been on strong bullish momentum, climbing more than 70% within the past year.
Not too long ago, the company announced it has completed the MITRE Engenuity ATT&CK Round 4 Evaluation, achieving 100% Prevention and 100% Detection of attacks. Its Cortex XDR was evaluated for its ability to protect and detect simulations of the Wizard Spider and Sandworm threat groups’ real-world attacks. This is an ultimate validation for a security solution as detecting and mitigating real-world threats is extremely important right now. Keeping this in mind, would you consider PANW stock a top cybersecurity stock to watch?
Last but not least, we have the global cloud security provider, Mimecast. The company’s principal activity is the provision of cloud security and risk management services for e-mail and corporate information. Besides that, it also provides Cyber Resilience Extensions such as Mimecast Enterprise Information Archiving. This unifies email data to support e-discovery, forensic analysis, and other compliance initiatives. Those who invested in MIME stock a year ago would have seen a profit of over 90% by now.
Not to mention, Mimecast recently announced its expansion in APAC by establishing an office in Singapore. This will serve as a regional hub for focusing on South-East Asia. The company views the region as a strategic growth market. After all, many organizations within the region are experiencing a rapid digital transformation. Hence, fears of cybercrimes are becoming increasingly apparent as well. With that being said, could Mimecast’s expansion to the APAC region be a catalyst for long-term growth? If so, would you pay more attention to MIME stock moving forward?