Catchy: 3 Cybersecurity Stocks to Ditch in February for Good Measure

February 11, 2024
1 min read

TLDR:

Investors should consider selling these three cybersecurity stocks due to various factors:

  • Rapid7 (RPD) – Weak guidance and the uncertain macroeconomic environment.
  • Okta (OKTA) – Declining revenue growth and unprofitability.
  • BlackBerry (BB) – Facing competition from well-established rivals and a high valuation.

The cybersecurity market has experienced significant growth as more businesses adopt digital transformation initiatives, leading to increased cyber threats and data breaches. However, not all cybersecurity companies are performing well. Investors should consider selling Rapid7 (RPD) as the company’s weak guidance suggests that cybersecurity firms may still face challenges in the macroeconomic environment. Okta (OKTA), despite its strong position in the fast-growing identity and access management (IAM) market, has experienced declining revenue growth and remains largely unprofitable. The high valuation of BlackBerry (BB) is a result of falling into net loss territory, and the company faces competition from established rivals. Investors may want to explore other cybersecurity stocks before considering BlackBerry as an investment option.

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