5 Cybersecurity Stocks For Your November 2021 Watchlist
While investors eagerly await major tech company earnings in the stock market this week, cybersecurity stocks should not be overlooked. After all, the need for the industry’s offerings continues to grow by the day. This would make sense as more companies than ever are operating in the digital space due to the pandemic. In turn, this also translates to immense volumes of valuable company assets being stored digitally as well. Because of all this, cybercriminals would likely be more incentivized to target organizations. As such, investors may want to note some of the top cybersecurity stocks around now.
Not to mention, even some of the biggest names in tech are actively observing cybercriminal activity. Earlier today, Microsoft (NASDAQ: MSFT) corporate VP of customer security and trust, Tom Burt, provided a pressing update. According to Burt, Nobelium, the hacker group linked to the massive SolarWinds (NYSE: SWI) last year is now targeting global IT supply chains. Should this be the case, I could see more global tech firms beefing up their cybersecurity infrastructure now. With that in mind, here are five to note in the stock market right now.
Top Cybersecurity Stocks To Watch Right Now
- Palantir Technologies Inc. (NYSE: PLTR)
- International Business Machines Corporation (NYSE: IBM)
- Twilio Inc. (NYSE: TWLO)
- Splunk Inc. (NASDAQ: SPLK)
- CrowdStrike Holdings Inc. (NASDAQ: CRWD)
Palantir Technologies Inc.
To start things off, we have the cybersecurity company Palantir. In essence, it builds enterprise data platforms for use by organizations with complex and sensitive data environments. Its services are used by many industries to build safer vehicles, discover new drugs, and combat terrorism. Specifically, its Palantir Gotham is used for counter-terrorism by the U.S. Department of Defense. PLTR stock currently trades at $25.33 as of 12:04 p.m. ET and has more than doubled in valuation in the past year alone.
On October 5, 2021, the company announced that it was selected by the U.S. Army to deliver the Army’s Intelligence data fabric and analytics foundation for the Capability Drop 2 (CD-2) program.
In brief, the company was selected to progress to the next phase of the Army’s competitive $823 million indefinite delivery, indefinite quantity (IDIQ) contract. Palantir will deploy the Palantir Gotham Platform to support Army Intelligence users worldwide with a globally federated intelligence data fabric and analytics platform spanning multiple security classifications. Given this piece of news, will you consider adding PLTR stock to your watchlist?
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International Business Machines Corporation
Following that, we have International Business Machines (IBM), a software company that builds a new generation of hybrid cloud. It allows its customers to access a common platform across all of its cloud, on-premises, and edge environments. The company provides a comprehensive and consistent approach to development, security, and operations across hybrid environments. IBM stock currently trades at $127.87 as of 12:05 p.m. ET.
Last week, it reported its third-quarter financials. Diving in, revenue for the quarter was $17.6 billion with its Cloud & Cognitive Software segment making a chunk of this revenue at $5.69 billion. Notably, total cloud revenue over the last 12 months was $27.8 billion, up by 14% year-over-year. Its Red Hat revenue was also up by 17% year-over-year.
“With the separation of Kyndryl early next month, IBM takes the next step in our evolution as a platform-centric hybrid cloud and AI company,” said Arvind Krishna, IBM chairman, and chief executive officer. “We continue to make progress in our software and consulting businesses, which represent our higher growth opportunities.” With this piece of information, would you be on the lookout for IBM stock?
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Twilio Inc.
Twilio is a cloud communications platform as a service company with headquarters in California. It offers secure communications for its users and key tenets of its security program include data security, product security, and risk management. Notably, its Twilio Frontline allows its users to connect securely with their customers from anywhere around the globe. TWLO stock currently trades at $356.43 a piece as of 12:05 p.m. ET. The company will be announcing its third-quarter financials on Wednesday after the market closes.
Last week, the company announced the launch of Twilio Engage, a first-of-its-kind growth automation platform. It will help marketers deliver exceptional omnichannel campaigns that are well suited for the digital era. This will be the newest pillar in Twilio’s Customer Engagement Platform (CEP).
Furthermore, Twilio Engage will offer an out-of-the-box functionality that marketers need and also the extensibility of a build-it-yourself solution. The company also believes that Twilio Engage will disrupt marketing and customer engagement. This is because no single platform has made it possible to power personalized interactions across the entire customer journey. With that in mind, is TWLO stock worth watching right now?
Splunk Inc.
Following that, we will be taking a look at Splunk. In brief, Splunk is a California-based software company that specializes in big data analytics. On top of that, the company also offers digital security solutions in the form of its Enterprise Security service. In doing so, Splunk provides its clients with developing actionable insights from data while protecting said data. The company accomplishes this by providing real-time intelligence and advanced analytics at scale.
Now, while SPLK stock trades at $169.49 as of 12:06 p.m. ET, could it be worth investing in? Well, for one thing, Splunk remains as busy as ever on the operational front. Just last week, the company made significant updates to its mainstream and government-linked services.
On one hand, Splunk overhauled and revamped its Cloud Platform and Enterprise offerings. This includes better integrations with Amazon’s (NASDAQ: AMZN) and Microsoft 365. On the other hand, Splunk is now running its Government Logging Modernization Program. The likes of which are helping federal bodies meet their cyber incident response per President Biden’s latest executive order on digital security. As such, will you be eyeing SPLK stock now?
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CrowdStrike Holdings Inc.
Last but not least, we have CrowdStrike. As of the more prominent names in the cybersecurity world today, the company would be in focus. Given its role in handling the infamous SolarWinds hack, it would not surprise me to see companies turning to CrowdStrike now. From its top-of-the-line cloud workload and endpoint security to its threat intelligence and cyberattack response services, CrowdStrike offers plenty. As it stands, CRWD stock is currently trading at $282.49 as of 12:06 p.m. ET, after gaining by over 105% in the past year.
Despite its current momentum, the company does not seem to be slowing down anytime soon. For starters, CrowdStrike now provides its Falcon Fusion automated workflow solution for free to its Prevent and Insight subscribers. This would, in turn, provide more value to its existing subscription packages. Subsequently, the company also launched the CrowdXDR Alliance. Through this coalition, CrowdStrike is now working with Alphabet’s (NASDAQ: GOOGL) cloud division, Google Cloud, and Zscaler (NASDAQ: ZS) among other tech giants to discuss best-in-class digital security solutions. All things considered, would CRWD stock be a top watch for you this week?
