Cybersecurity stocks could be viable plays in the stock market now as stocks continue to see volatility. For one thing, the sector is home to an increasingly crucial line of defense for organizations and governments alike. This would be apparent as the fighting between Russia and Ukraine persists. Even after attempts at peace talks, foreign ministers from both nations failed to make any headway for a ceasefire. With the ongoing war, it would make sense that people are looking to better protect their digital assets. Not to mention, countless people are spending much more time online as hybrid work arrangements are the current norm.

By and large, more people are exposed to cyber threats than ever. This is where some of the top cybersecurity firms fit in the picture. If anything, we could look at CrowdStrike’s (NASDAQ: CRWD) latest quarterly earnings results to gauge the current market demand. After yesterday’s closing bell, the company topped estimates across the board. In detail, it raked in total revenue of $431 million alongside earnings of $0.30 per share. This is versus estimates of $411 million and $0.20 respectively. On top of that, CrowdStrike also saw record growth in its annual recurring revenue and operating and free cash flow.

At the same time, we also have companies like Fortinet (NASDAQ: FTNT) working hard to expand their offerings. As of yesterday, the firm is now working with Orange (NYSE: ORAN), a French telecom company. The duo are essentially working to integrate Fortinet’s network security solutions with Orange’s telco cloud infrastructure. All in all, there seems to be no shortage of excitement in the cybersecurity space now. On that note, here are three cybersecurity stocks to note in the stock market today.

Cybersecurity Stocks To Buy [Or Sell] Right Now

Alphabet Inc.

Starting us off today, we have Alphabet, a multinational tech company whose products are used by billions all over the world. It aims to organize the world’s information and make it universally accessible for the masses. Its family of products includes Search, Maps, Gmail, Chrome, and YouTube among others. Notably, its Google Cloud service allows organizations to digitally transform their business. It delivers a suite of cloud computing services and has customers in more than 200 countries and territories that use its services.

On Tuesday, the company announced that it has signed a definitive agreement to acquire Mandiant (NASDAQ: MNDT), a leader in dynamic cyber defense and response. Google will acquire Mandiant in an all-cash transaction valued at approximately $5.4 billion. Upon the close of this acquisition, Mandiant will join Google Cloud. Through this acquisition, Mandiant will bring real-time and in-depth threat intelligence gained on the frontlines of cybersecurity with the largest organizations in the world. Combined with Google Cloud’s cloud-native security offerings, the acquisition will help enterprises globally stay protected at every stage of the security lifecycle.

As a pioneer in multi-cloud technology, Google Cloud’s security operations suite will continue to provide a central point of intelligence, analysis, and operations across on-premise environments. “There has never been a more critical time in cybersecurity. Since our founding in 2004, Mandiant’s mission has been to combat cyber attacks and protect our customers from the latest threats,” said Kevin Mandia, CEO, Mandiant. “To that end, we are thrilled to be joining forces with Google Cloud. Together, we will deliver expertise and intelligence at scale, changing the security industry.” With that being said, is GOOGL stock a top cybersecurity stock to invest in right now?

GOOGL stock chart
Source: TD Ameritrade TOS

Zscaler Inc.

Zscaler is a cloud security company and has headquarters in San Jose, California. The company also accelerates digital transformation for its customers to be more agile, efficient, resilient, and secure. Its Zscaler Zero Trust Exchange protects thousands of customers from cyberattacks and data loss. It does this by securely connecting users, devices, and applications in any location.

Last month, the company reported its second-quarter financials for fiscal 2022. Diving in, revenue for the quarter was $255.6 million, growing by 63% year-over-year. Non-GAAP net income for the quarter was $19.2 million. The company attributes this quarter’s strong results to continued demand for its Zero Trust security platform. The company also ended the quarter with $1.62 billion in cash and cash equivalents.

On February 18, 2022, the company announced that it is recognized as a leader in the inaugural Gartner 2022 Magic Quadrant for Security Service Edge (SSE). This is the 11th consecutive year Zscaler has been named a Leader initially in the Gartner Magic Quadrant for Software Web Gateways and now in the Gartner Magic Quadrant for SSE. Gartner evaluates vendors’ ‘Ability to Execute’ by a combination of factors including products/services, customer experience, market responsiveness, track record, marketing execution, sales execution/pricing, operations, and overall viability. Given this piece of information, is ZS stock worth adding to your portfolio today?

ZS stock chart
Source: TD Ameritrade TOS

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Palo Alto Networks Inc.

Last but not least, we have Palo Alto Networks, or PANW for short. In essence, the cybersecurity firm primarily specializes in providing advanced firewall solutions. The likes of which span all aspects of the cloud today. Overall, the company employs a mix of artificial intelligence (AI), analytics, automation, and orchestration-based tech in its work. Because of all this, PANW is arguably among the leading names in the global cybersecurity space now.

Also, as global reliance on cloud storage and servers continues to grow, so too would demand for PANW’s cloud-centric services. While this is good for the company’s overall momentum, PANW continues to innovate as well. In fact, it revealed a new update for its cloud-native security platform, Prisma Cloud. Simply put, the company is now offering clients its Supply Chain Security (SCS) service.

According to PANW, SCS serves to provide a “complete view of where potential vulnerabilities or misconfigurations exist,” in the software supply chain. By extension, this would enable PANW customers to quickly identify and address potential weaknesses in their digital supply chains. Amidst the current pressure on global supply chains, introducing CSC would be a strategic play by PANW. As PANW continues adapting its offerings to the shifting cybersecurity landscape, would PANW stock be a top buy for you?

PANW stock chart
Source: TD Ameritrade TOS

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