Hello friend, I am ready with another post title “3 Cybersecurity Stocks to Buy in May 2024” for all of you. If you want to invest your capital in stocks then this article will help you. I am going to deliver about some stocks company in which you must invest and the prices will definitely go up. Read the complete post.
What is Cybersecurity ?
Cybersecurity is the practice of protecting computer systems, networks, programs and data from unauthorized access, cyber attacks, hackers, and damage to their integrity, confidentiality, and availability. This involves implementing robust security measures, staying vigilant against emerging threats, and fostering a culture of cyber resilience.
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What is Cybersecurity Stocks ?
Cybersecurity stocks refer to shares of companies that specialize in providing products and services related to cybersecurity. These companies operate in the rapidly growing field of cybersecurity, offering solutions to protect organizations and individuals from cyber threats such as malware, hacking, data breaches, and other malicious activities.
Why should we invest in Cybersecurity Companies ?
Investing in cybersecurity stocks has become increasingly popular as the importance of cybersecurity has grown in response to the rising frequency and sophistication of cyber attacks. As we know that in recent years, how the hackers tried to leak the Data. These incident will not slow down until we invest in Cyber security companies.
Cybersecurity companies offer a wide range of products and services, including antivirus software, firewalls, encryption tools, threat detection and response systems, identity and access management solutions, and security consulting services.
3 Cybersecurity Stocks to Buy in May 2024
1. Palo Alto Networks
Palo Alto Networks is a prominent cybersecurity company that specializes in providing advanced firewall protection and cloud-based security solutions for businesses and organizations. It was Founded in 2005 by Nir Zuk, a former engineer from Check Point Software Technologies, Palo Alto Networks has quickly risen to prominence in the cybersecurity industry.
It offers three main protection platforms: network security, cloud security and security operations. Each platform has several products with recognized industry leadership.
In February, PANW stock sold off after its earnings report due to its platformization efforts. That being said, it was another solid report, with revenues up 19% year-over-year to $1.98 billion. And despite a shift of strategy to accelerated platformization, management expects 15% to 16% revenue growth in FY2024.
The current share price of the Palo Alto Networks company is 293.5 US Dollar. There might be some minute differences in the data which is negligible. Also it is said that the price is gained 2.58% over the past months. Palo Alto Networks will continue to profit from cyber spending and benefit from vendor consolidation. Buy the stock on this bout of weakness.
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2. Crowd Strike (CRWD)
CrowdStrike is also a cybersecurity company that mainly focuses in cloud-delivered endpoint protection. It was Founded in 2011 by George Kurtz and Dmitri Alperovitch. It is known for its innovative approach to cybersecurity, leveraging artificial intelligence and machine learning to detect and prevent cyber threats. Over the years, industry research has rated CrowdStrike’s Falcon platform as one of the best security platforms. .
Utilizing its top position and cloud-native platform, It has sustained remarkable growth rates within the industry, alongside delivering substantial free cash flow. Total revenues for the fiscal year 2024 surged by 36% to reach $3.06 billion. Concurrently, free cash flow rose from $676.8 million in fiscal 2023 to $938.2 million.
Currently, CrowdStrike is a consensus buy among analysts with 38 buy and 7 overweight ratings. No analyst rates the stock a sell or underweight, making it one of the top cybersecurity stocks. Moreover, the average price target of $398 represents over 30% upside.
3. SentinelOne (S)
SentinelOne is a cybersecurity company known for its autonomous endpoint protection platform. Founded in 2013 by Almog Cohen, Tomer Weingarten, and Ehud Shamir, SentinelOne has quickly established itself as a leader in the cybersecurity industry.
It offers one of the highest revenue growth rates among top cybersecurity stocks. Its AI-powered security solutions have enjoyed strong demand from large enterprises and mid-market companies. Due to this, in FY2023 and FY2024 revenues were grown up by 106% and 47%, respectively.
The current share price of the SentinelOne (S) company is 21.5 US Dollar which is very low as compare to the above companies. A growth of 0.15% is seen in recent days.
Conclusion
The cybersecurity landscape continues to evolve rapidly, driven by the proliferation of digital technologies and the escalating sophistication of cyber threats. Investing in cybersecurity stocks presents an opportunity to capitalize on this trend while safeguarding against potential risks. CrowdStrike Holdings, Palo Alto Networks, and , SentinelOne (S) Inc. are three cybersecurity stocks that offer growth potential and resilience in the face of evolving cyber threats, making them worthy considerations for investors in May 2024.
Disclaimer:
The above article “3 Cybersecurity Stocks to Buy in May 2024” is written by the author and compiles of various sources like from Internet, Social Media and Books. So there might be some differences in the given data. Before investing in the above mentioned companies, please once go through its official website/APP. Thanks
