Cybersecurity has been a hot topic in recent years. This comes as a result of more and more businesses and individuals have fallen victim to cyber-attacks. Cyber security stocks have also been on the rise, as investors look to capitalize on the growing need for better cyber protection. Actually, cybersecurity is a complex issue, and there are a variety of ways to approach it. Some businesses focus on prevention, while others emphasize detection and response.
However, cybersecurity is a complex and ever-evolving field, and it can be difficult to choose the right company to invest in. Some important factors to consider include the company’s financial stability, its history of data breaches, and the strength of its products. By doing your research, you can find the cybersecurity stock that best meets your needs. With this in mind, check out three top cyber security stocks to watch in the stock market now.
Cyber Security Stocks To Watch Now
- Zscaler Inc. (NASDAQ: ZS)
- Palo Alto Networks Inc. (NASDAQ: PANW)
- Fortinet Inc. (NASDAQ: FTNT)
1. Zscaler (ZS Stock)
First up, Zscaler Inc (ZS) is a cloud security company that provides internet security, web security, firewalls, and more. In addition, the company has a wide range of products that cater to different needs and industries. Some of Zscaler’s most popular products include Zscaler Internet Access, Zscaler Security Cloud, Zscaler Cloud Firewall, and Zscaler Email Security.
ZS Recent Stock News
On October 18th, 2022, Zscaler announced its new innovative data protection features for its cloud applications. Diving in, these new innovations speed up data protection programs from what could be months to hours with no configuration required for data loss prevention or DLP. As a result, these advancements from Zscaler can reduce security risks by combining data protection throughout all channels, and streamlining operations with workflow automation.
Moinul Khan, Vice President & General Manager, Data Protection, at Zscaler commented, “Building on eight years of data protection innovations, Zscaler has employed advanced auto-classification capabilities to accelerate setup and reduce security team overhead and costs. Unlike other data protection solutions, this ensures that Zscaler Data Protection works for the IT administrator, rather than having the IT administrator work for it.”
ZS Stock Chart
Meanwhile, shares of ZS stock popped 4.64% during Tuesday’s trading session at $155.57 a share.
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2. Palo Alto Networks (PANW Stock)
Next up, Palo Alto Networks (PANW) is a company that specializes in cybersecurity. They offer a variety of products and services designed to protect businesses and organizations from online threats. Palo Alto Networks products are used by some of the world’s largest organizations, including banks, governments, and military operations.
PANW Recent Stock News
Today, Tuesday, Palo Alto Networks reported that it has expanded its NextWave Program. In detail, the NextWave program enables partners to quickly neutralize and eliminate cyber threats. They do this by encouraging them to submit incident reports which are powered by Cortex XDR. This is all part of Palo Alto Network’s efforts to grow its managed security service providers (MSSPs) ecosystem.
“The 2022 Unit 42 Incident Response Report found that in 44% of cases, organizations did not have an extended detection and response (XDR) security solution, or it was not fully deployed on the initially impacted systems. Palo Alto Networks Cortex XDR is designed to provide more comprehensive visibility so threats are identified early along with better context for accelerated investigation and tighter containment,” stated Tom Barsi, vice president, of WW Cortex Ecosystems, Palo Alto Networks.
PANW Stock Chart
Moving along, going into Tuesday’s power hour trading session shares of PANW stock are up 2.33% at $165.14 a share.
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3. Fortinet (FTNT Stock)
Topping off the list, Fortinet (FTNT) is a company that provides security solutions for the enterprise, government, and service provider markets. The company’s FortiGate products are used to provide data protection, networking, and email security for organizations of all sizes. Fortinet also offers a line of products for cloud security, including the FortiCloud platform.
FTNT Recent Stock News
Earlier this month, the company announced that it will release its third quarter 2022 financial results on Wednesday, November 2, 2022, after the stock market closes. For a refresher, in the second quarter of 2022, FTNT reported a beat with earnings of $0.25 per share and revenue of $1.0 billion.
Also in that report, the company provided estimates for Q3 2022 non-GAAP earnings of $0.26 to $0.28 per share, with revenue of $1.105 billion to $1.135 billion. Meanwhile, Wall Street’s consensus estimates for 3rd quarter ending September 30, 2022, are earnings of $0.27 per share, and revenue of $1.12 billion
FTNT Stock Chart
Continuing on, in the last month of trading action, FTNT stock has rallied higher by 15.25%. What’s more, on Tuesday afternoon shares of Fortinet stock are up 1.38% at $55.67 per share.
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