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Firewall Fortunes: 3 Best Bets in the Cybersecurity Sphere
Cybersecurity is quickly becoming a top line item in corporate IT spending. The cybersecurity industry has experienced rapid growth as hacking attempts become more frequent. Gartner forecasts global spending on cybersecurity to reach $215 million by 2024. This presents an opportunity for investors to buy into cybersecurity stocks early. Here are the top three potentially profitable cybersecurity stocks as long-term investments:
Palo Alto Networks (PANW)
A pioneer in cybersecurity. Provides cybersecurity products and services to organizations globally. Acquired Dig Security to enhance its data security capabilities. Strong financial growth. Rated as a strong buy with a high price estimate of $400.
CrowdStrike Holdings (CRWD)
Provides cloud-based security services for devices, cloud computing, identity management, and data protection. Recognized as a leader in management detection and response services in Europe. Impressive financial growth. Rated as a strong buy with a high price target of $330.
Zscaler, Inc. (ZS)
Provides cloud-based security solutions worldwide. Assists companies in securely accessing software applications and internet destinations. Strong financial growth. Rated as a strong buy with a high price target of $275.
As the cybersecurity market continues to expand, investing in these strong cybersecurity stocks can lead to significant profits in the long run.
