Sep 14, 2021 (StockMarket.com via COMTEX) -- 4 Hot Cybersecurity Stocks To Watch Now
Cybersecurity stocks remain one of the most bullish industries in the stock market today . Due to the pandemic, many companies are gearing towards a hybrid workforce. More people are now working from home but companies are well aware of the risk of such settings. From company assets to personal data, the number of viable targets for cyberattacks has and continues to increase significantly. Thus, the importance of cybersecurity has been highlighted repeatedly.
On top of that, we are also witnessing online transactions being made more than ever and one on the rise would be cryptocurrencies. Cloudflare's ( NYSE: NET ) CEO, Matthew Prince believes that with the rising popularity of cryptocurrencies, they have become popular targets for cybercriminals. After all, it makes sense for cybercriminals to follow the money. So, it would be an understatement to say that cybersecurity is a priority for many companies right now. Given these thoughts, would a list of the top four cybersecurity stocks in the stock market today garner your interest?
Best Cybersecurity Stocks To Buy [Or Sell] This Week
Zscaler Inc ( NASDAQ: ZS )
Radware Ltd ( NASDAQ: RDWR )
Crowdstrike Holdings Inc ( NASDAQ: CRWD )
Fortinet Inc ( NASDAQ: FTNT )
Zscaler is a company that focuses on providing a cloud security platform that is designed on a zero-trust architecture. Its architecture allows users and devices to safely access authorized applications and services in the cloud. Zscaler's security and user experience solutions are purpose-built on a multi-tenant, distributed cloud exchange that secures access for users and devices to applications and services, regardless of location.
Last Friday, the leading cloud security company announced its fiscal fourth-quarter earnings report. The company posted yet another impressive result with a record number of large deals across diverse sectors. Zscaler posted revenue of $197.1 million, an increase of 57% year-over-year. In addition, its calculated billings growth was $332.2 million, up 70% compared to the prior year's quarter. With this, the company ended the fiscal year with strong business momentum.
It is noteworthy that the company was selected by Schmitz Cargobull AG to protect its users, applications, and workloads for 5,800 of its employees worldwide. Zscaler will act as the foundation of Schmitz's overall digitalization and transformation initiative to modernize the company's IT security infrastructure. Also, Schmitz will gain a multilayered security approach and encrypted traffic inspection to protect against fast-moving threats. With these exciting developments, would you consider adding ZS stock to your portfolio?
Following that, we have the provider of cyber security and application delivery solutions company, Radware. The company's solutions incorporate Distributed Denial of Service protection, Web application firewall (WAF), and Application Delivery Controllers (ADC) technologies to enable its customers to provide cyber-attack mitigation solutions for a range of applications. RDWR stock has risen more than 30% since the start of the year.
According to CNBC, Radware is in talks to sell itself to private equity firm Siris Capital. As cyber threats are increasing by the day, private equity firms have become increasingly interested in cybersecurity companies as well. Although the deal is not confirmed and talks may still fall apart, there are reasons to be optimistic about the potential deal.