Are These The Top Cybersecurity Stocks To Invest In Today?
Cybersecurity stocks represent a unique part of the high-growth tech industry in the stock market today. By and large, this would be the case as some would argue that the sector is growing in relevance across the board. After all, with most organizations and businesses shifting their operations online amidst the pandemic, the world is more exposed than ever to cybercrime. In theory, with this increase in exposure, so too, would there be a rise in demand for digital security solutions as well. Because of this, investors could be eager to jump on the top cybersecurity stocks around.
At the same time, the heavy-hitters in the industry do not seem to be slowing down anytime soon. Take Qualys (NASDAQ: QLYS) and IBM (NYSE: IBM) for example. On one hand, Qualys recently released major updates to its core cloud, introducing rapid remediation and custom assessment features. This allows its clients to fix digital asset misconfigurations efficiently. On the other hand, as of earlier this month, IBM is teaming up with the U.S. Department of Veterans Affairs among other foundations to grow the cybersecurity workforce. These are but two instances of the ever-evolving cybersecurity industry today. On that note, could one of these firms be worth taking a look at in the stock market now?
Cybersecurity Stocks To Buy [Or Sell] Ahead Of June 2022
- Palo Alto Networks Inc. (NASDAQ: PANW)
- CrowdStrike Holdings Inc. (NASDAQ: CRWD)
- Cloudflare Inc. (NYSE: NET)
- Zscaler Inc. (NASDAQ: ZS)
- Alphabet Inc. (NASDAQ: GOOGL)
Palo Alto Networks Inc.
To begin with, we will be taking a look at Palo Alto Networks, or PANW for short. 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. PANW 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.
More importantly, PANW seems to be gaining plenty of attention in the stock market today thanks to its latest earnings update. According to the report, PANW’s total quarterly revenue for the quarter is $1.39 billion. Also in the press release, the company’s earnings per share are $1.79. To compare, the consensus figures on Wall Street are $1.36 billion and $1.68 respectively. Alongside this sizable beat on the top and bottom lines, PANW’s quarterly billings are also up by 40% year-over-year. With all this in mind, would you consider PANW stock a top buy in your books now?
CrowdStrike Holdings Inc.
Another top name to consider among cybersecurity firms today would be CrowdStrike. On the whole, the company is a titan in the cloud workload and endpoint security spaces. Alongside these core services, CrowdStrike also specializes in providing threat intelligence and cyberattack response services. With all the attention on cybersecurity stocks today, CRWD stock could be gaining traction.
While this is great, CrowdStrike remains hard at work on the operational front as well. Just yesterday, the company announced a key expansion for its Falcon Cloud Workload Protection (FCWP) cybersecurity solution. Notably, the FCWP now comes with support for Red Hat Enterprise Linux 9, a commercial open-source Linux developer tool. According to CrowdStrike, this move further empowers its clients to build, run, and improve cloud-native applications with more comprehensive security capabilities. After considering all this, is CRWD stock a top cybersecurity stock for you?
Next, we have Cloudflare, a global cloud services provider that delivers a broad range of services to businesses across the globe. In essence, it helps secure and enhance the performance of business-critical applications. Its services also eliminate the cost and complexity of managing individual network hardware. Last week, it announced Cloudflare D1, a simple and instant serverless database. Cloudflare D1 will enable developers to start building database-backed applications using Cloudflare Workers with just a few clicks.
Besides, data will be stored close to where users are, providing fast performance without the complexities of managing a traditional database. Accordingly, D1 will also offer instant access to one of the most widely deployed database technologies in the world, SQLite, directly from its Cloudflare Workers. “The hardest part about serverless isn’t actually the code, it’s the storage. Today we’re announcing our first serverless database which we expect will quickly become one of the largest databases in the world,” said Matthew Prince, co-founder, and CEO of Cloudflare. “Cloudflare D1 is built on Cloudflare’s global network, which we believe will allow us to offer one of the largest and most performant serverless databases on the market so no business needs to be bogged down by the cost and complexity of managing their storage.” With this piece of news, will you consider investing in NET stock?
Zscaler is a cloud-native technology platform that helps accelerate digital transformation. With Zscaler’s platform, customers can be more agile, efficient, and secure. In detail, the Zscaler Zero Trust Exchange Protects thousands of companies from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Last month, the company also released a report detailing an increase in phishing attacks on retail and wholesale industries.
In its 2022 ThreatLabz Phishing report, it reviewed 12 months of global phishing data from the Zscaler security cloud. Phishing attacks rose 29% globally to a new record of 873.9M attacks observed in the Zscaler cloud last year. Retail and wholesale were the most targeted industries, experiencing over a 400% increase in phishing attacks over the last 12 months. The report also details key trends, industries, geographies at risk, and emerging tactics. All things considered, is ZS stock worth buying right now?
Alphabet is a tech company that provides a wide portfolio of tech services. Notably, its Google Cloud Platform offers a suite of cloud computing services that include computing, cybersecurity, data analytics, and machine learning. It also provides an infrastructure as a service, platform as a service, and serverless computing environment. On Thursday, GlobalData released a Cybersecurity – Thematic Research Report which provides an overview of the global cybersecurity market.
The report also identifies the key trends impacting the growth of the theme in the upcoming months. GlobalData says that the CAGR for the cybersecurity market is expected to grow more than 9% during the forecast period. The global cybersecurity market size was $125.5 billion in 2020. Companies like Alphabet will be leading the Mergers and Acquisitions boom in the tech sector. Alphabet’s Google has announced in March that it will be acquiring Mandiant, not long after purchasing threat detection firm Siemplify. With that, would GOOGL stock make your list of top cybersecurity stocks to buy right now?