Best cybersecurity stocks as Russian attack risks escalate
- The threat of cybersecurity attacks is escalating at a high rate.
- The biggest risk is that Russia could launch major attacks in the coming months.
- Here are the top cybersecurity stocks to watch.
The Russian invasion of Ukraine has led to a significant focus on the cybersecurity industry. Analysts believe that an isolated Russian economy will focus on cybersecurity in a bid to finance its wars. Therefore, investors have turned to several cybersecurity stocks, which has pushed the FirstTrust NASDAQ Cybersecurity ETF to the highest level in weeks. Here are the top cybersecurity stocks to watch.
Palo Alto Networks
Palo Alto Networks (NYSE: PANW) is one of the leading cybersecurity companies in the world valued at over $54 billion. The company offers multiple services such as securities on data centers and computers. Its key products are Prisma, Cortex, Strata, and Okyo. These solutions are used by tens of thousands of companies globally.
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Palo Alto Networks has done relatively well in the past few quarters. Its total revenue has climbed to over $4.8 billion while the number of customers has jumped. Some of the top firms using its technology are Dish Networks, Salesforce, Caesars Entertainment, Infosys, and AutoNation among others. There is a likelihood that more companies will embrace the company’s solutions in the near term.
CrowdStrike (NASDAQ: CRWD) is a leading cybersecurity company that focuses mostly on using artificial intelligence to prevent attacks. The company’s solutions include Falcon Pro, which helps to prevent malware in corporate networks. It also offers threat protection and advanced breach protection.
CrowdStrike has been a strong growth company as more companies have moved to invest in cybersecurity. As a result, its total revenue has jumped from just $57 million in 2017 to more than $1.2 billion in the past 12 months.
This growth has come at a cost considering that the company has seen a strong increase in its losses. However, as a leading player in cybersecurity, its stock will likely keep rising.
Mandiant (NASDAQ: MNDT) is another cybersecurity stock to place in your radar. The company has been extremely successful in cybersecurity, which has helped its business continue growing. Its total revenue has jumped $331 million in 2019 to $483 million in 2021.
Mandiant provides multiple services through its Advantage software platform. It offers automated defense, security validation, and threat management among others. Some of its top customers are Equifax, Vodafone, Bureau of Customs, Infosys, and Verisk among others.
The Mandiant stock price has risen by more than 40% from its lowest level in February and there is a likelihood that it will keep doing well.