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5 Cybersecurity Stocks For Your May 2022 Watchlist

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May 03, 2022 (StockMarket.com via COMTEX) -- Do You Have These Cybersecurity Stocks On Your Watchlist Right Now?

Cybersecurity stocks have been on a roller coaster ride this year. Many investors are looking for safe haven amid a volatile stock market . And some may be looking towards cybersecurity as a good investment option. Now, cybersecurity stocks would be under scrutiny this week as investors will be keeping a close eye on some of the top names providing their quarterly financials. This includes the likes of Cloudflare, NortonLifeLock ( NASDAQ: NLOK ), and Rapid7 ( NASDAQ: RPD ), just to name a few. Also, a recent survey from Allianz listed cyber attacks as the most relevant concern this year.

What's more, Zscaler ( NASDAQ: ZS ) recently released the findings of its 2022 ThreatLabz Phishing Report. The company revealed that phishing attacks rose 29% globally to a new record of 873.9 million attacks last year. Out of which, retail and wholesale were the prime targets, with over 400% increase in phishing attacks over the last year. Meanwhile, SentinelOne ( NYSE: S ) and Arete Incident Response announced that their partnership has successfully resolved over 2,000 enterprise ransomware attacks worldwide. Well, whether we like it or not, the world has an increasing need for cybersecurity. With that in mind, here are some of the top cybersecurity stocks to watch in the stock market now.

Cybersecurity Stocks To Watch Right Now

Palo Alto Networks

Palo Alto Networks is one of the top cybersecurity service providers in the world today. It offers security platforms that allow enterprises, service providers, and governments to secure all users, data, and applications across all locations. In fact, the company recently announced that its IoT Security solution has achieved Federal Risk and Authorization Management Program Moderate Authorization. Hence, Palo Alto can now help federal agencies to protect their unmanaged IoT devices with ML-powered visibility, threat prevention, and Zero Trust enforcement with a single platform.

Not to mention, Palo Alto also announced the general availability of its Okyo Garde Enterprise Edition last month. This edition enables organizations to extend Palo Alto Networks' best-in-class SASE into the home network through a security subscription that comes with Prisma(R) Access and a beautifully designed Wi-fi 6 router. Additionally, the Okyo Garde is easy to manage for at-home employees and seamless to configure for IT teams. Given these exciting developments, would you add PANW stock to your watchlist?

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Fortinet

Similar to Palo Alto, Fortinet is a company that needs no introductions in the cybersecurity space. Its network security appliances are managed by its FortiOS network operating system. Aside from that, the company also offers managed intrusion prevention system and Web application firewall rules delivered by FortiGuard Labs as an overlay service. Despite the lack of excitement around the company's stock this year, FTNT stock has still risen more than 40% over the past year.

In April, Fortinet's Training Institute introduced its new Security Awareness and Training service. This will offer any organization the ability to further protect their critical digital assets from cyber threats by improving employee awareness in the field of cybersecurity. With the aid of Fortinet's FortiGuard Labs threat intelligence, organizations can cope with the latest evolving cyberattack methods. As such, it should not be surprising that many organizations will show special interest in this new service. With that said, could FTNT stock start to gain traction among investors again?

Qualys

Following that, we have the cloud-based cybersecurity provider, Qualys. The company's cloud platform is known for delivering information technology (IT), security, and compliance solutions. These solutions would enable organizations to identify security risks to their IT infrastructure and protect their IT systems and applications from imminent cyber-attacks. By and large, QLYS stock's long-term bullish trend appears to still be intact. Over the past year, the company stock has climbed approximately 40% despite a sluggish 2022 thus far.

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