Do You Have These Top Cybersecurity Stocks On Your Watchlist?
Amid the volatility in the stock market, there remain opportunities. One sector that could be attracting attention again is cybersecurity stocks. Those following the cybersecurity space would know that there has been a new vulnerability that may cause chaos within the industry in the near future. The vulnerability, known as Log4j, originates from a popular open-source product that helps software developers track changes in applications that they build. The flaw is now exposing some of the world’s most popular applications and services to attack. According to Cisco (NASDAQ: CSCO) and Cloudflare (NYSE: NET), hackers have been exploiting the vulnerability since the start of the month.
Just yesterday, we saw Ultimate Kronos Group subsidiary Kronos, a provider of payroll and time-sheet software, said that it suffered a ransomware attack that may force its systems offline for weeks. The company found out about the issue over the weekend and has begun steps to “investigate and mitigate” it. So, could this attack have any relation with the Log4j vulnerability? Well, the company did not clarify if it is related to the vulnerability but it cannot be ruled out. All these recent events have put a reminder on everyone about the importance of cybersecurity in the modern world now. Given such considerations, it is not surprising that cybersecurity stocks are heating up again. Should you be interested in the industry, here are some of the top cybersecurity stocks in the stock market today.
Best Cybersecurity Stocks To Watch In December 2021
- SentinelOne Inc (NYSE: S)
- Mimecast Ltd (NASDAQ: MIME)
- Radware Ltd. (NASDAQ: RDWR)
- Crowdstrike Holdings Inc (NASDAQ: CRWD)
SentinelOne
To start the list, we will be looking at SentinelOne. The cybersecurity company provides an artificial intelligence (AI) extended detection and response (XDR) platform to enable autonomous cybersecurity defense. Its Singularity Platform ingests, correlates, and queries petabytes of data from a myriad of ever-expanding sources in real-time.
On Monday, SentinelOne announced that its Singularity XDR Platform has been recognized as the 2021 Endpoint Protection Security Product of the Year. The award is based on the output of an industry-wide product survey with criteria such as revenue and profit opportunities for partners as well as customer demand across leading vendors. The company’s decision to rely on partners for services delivery makes it stand out in contrast to some of its rivals within the cybersecurity space.
Furthermore, the company recently reported its third-quarter financial update. The company’s revenue came in at $56 million, up 128% year-over-year. Meanwhile, its total customer count grew by 75% to over 6,000 customers as of October 31, 2021. Given these factors, would you consider adding S stock to your watchlist?
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Mimecast
Following that, we have the global provider of cloud security services, Mimecast. Essentially, the company’s principal activity is the provision of cloud security and risk management services for e-mail and corporate information. The company also has a software platform that provides a single system to address email management issues. MIME stock has risen more than 60% over the past year.
Last week, the company announced the availability of Mimecast for Secureworks Taegis™ XDR. The company’s extensible architecture will now be integrated into Taegis XDR, which combines threat intelligence across cloud, network, and endpoints to detect threats. This would provide actionable insights and a single console for investigating and rapidly responding in an automated fashion.
Besides that, it is also noteworthy that Permira Advisers has agreed to buy Mimecast in a $5.8 billion all-cash deal. From what we know, the deal is expected to close in the first half of 2022 and it also includes a 30-day “go-shop” period, where the firm and its advisers will look for rival deals. Safe to say, these are exciting times for the company. With that in mind, would MIME stock be a top cybersecurity stock to watch now?
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Radware
Radware is a provider of cyber security and application delivery solutions. The Company’s solutions incorporate Distributed Denial of Service protection, Web application firewall (WAF), and Application Delivery Controllers (ADC)technologies. These solutions would enable its customers to provide cyber-attack mitigation solutions for a range of applications. RDWR stock has been picking up steam lately, rising more than 15% within the past week.
Last week, the company along with Oncore Cloud Services announced a collaboration to help enterprise and public sector organizations secure their cloud migrations and protect their cloud assets. In detail, Oncore will be reselling Radware’s cloud security portfolio with a focus on Radware’s Cloud Native Protector. The portfolio provides Oncore with a comprehensive cybersecurity platform that spans private hosted and public cloud environments.
On top of that, Radware’s DefensePro DDoS Protection solution was also selected by CHT Security. It will safeguard the gaming publisher NCSoft Taiwan from massive DDoS attacks during a highly anticipated game launch. For those unaware, CHT Security is Taiwan’s leading security service provider and a subsidiary of Chunghwa Telecom, the largest telco in Taiwan. Given these exciting developments, would you consider investing in RDWR stock now?
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Crowdstrike
To sum it up, we will be looking at CrowdStrike. Put simply, the company is a provider of cloud-delivered solutions for endpoint and cloud workload protection. Its Falcon platform comprises two integrated technologies: lightweight agent and threat graph. From its top-of-the-line cloud workload and endpoint security to its threat intelligence and cyber-attack response services, CrowdStrike has it all.
CrowdStrike started the month of December by announcing its third-quarter financial results. The company’s total revenue was $380.1 million, representing an increase of 63% year-over-year. Out of which, subscription revenues were $357 million, which also increased by 67% compared to the prior year’s quarter. These outstanding results demonstrate the flywheel effect of its platform and reflect an increasing customer adoption in its core products.
Furthermore, CrowdStrike will end the year as one of the most recognized global leaders in any industry. Over the past year, the company has been recognized as a leader in more than 40 authoritative reports, independent 3rd party testing evaluations, and industry awards. These honors are a testament to the company’s market dominance and superior technology. All things considered, would you consider buying CRWD stock at its current valuation?
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