Picking stocks that will prosper for years to come is challenging. However, when it comes to the cybersecurity sector, there is no question about long-term viability. Cybersecurity stocks will continue to grow over the coming years as the internet plays a more significant role in people’s lives.
The cybersecurity sector will not only grow but will experience progression over the coming years. Buying these underrated cybersecurity stocks now could pay off big in a few years.
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Best Cybersecurity Stocks to Buy Today
Cybersecurity is one of the hottest industries in the tech sector. It’s already up big for the year, but that may only be the tip of the iceberg. This industry is primed for massive growth in the coming years.
Palo Alto Networks (PANW)
Palo Alto Networks has become popular for developing cutting-edge network firewalls. Over the years, Palo Alto Networks has become one of the most reliable cybersecurity companies. Its stock is already up 34% since the start of the year and could be getting ready to surge higher.
Palo Alto Networks is set to reports its Q1 fiscal 2020 earnings on November 25. According to the Zacks Consensus Estimate, Palo Alto Networks will generate a revenue of $767 million. This represents a growth of 17% from the same quarter last year.
The company’s Non-GAAP earnings are expected to be within $1.02-$1.04 per share, which is down by 12% from last year. However, the company had performed better-than-expected in the previous four quarters. It will come as no surprise if it achieves a similar result this time around.
Palo Alto Networks is venturing into new areas. The company launched cloud-based SD-WAN and a data loss prevention (DPL) service to Prisma Access. This service will aid the company to enter the secure access service edge (SASE) market. The Prisma Access can deliver a secure, simple, and higher performance SD-WAN from the cloud.
Fortinet is one of the leading cybersecurity companies in the world. It specializes in developing software and providing security services such as anti-virus, firewalls, and more. Fortinet’s stock is up by 53% since the start of the year and could be set to go higher in the coming weeks.
Over the past few days, Fortinet has recorded partnerships with some global brands. Fortinet announced strategic partnerships with Orange and SoftBank earlier this week. The partnership will see Fortinet boost SoftBank’s SD-WAN portfolios.
Similarly, the telco company, Orange, will use Fortinet’s SD-WAN platform. Orange will also utilize the advanced security and network analytics offerings in addition to the Multi-Cloud on Ramp application acceleration service offered by Fortinet.
These latest developments come after Fortinet was chosen by Ooredoo Kuwait, to provide the first secure SD-WAN managed service in the region. The company also partnered with Siemens to tackle the security and connectivity requirements of OT networks.
These developments and more will likely see Fortinet’s stock perform excellently in the coming weeks.
Okta Inc. (OKTA)
Another cybersecurity stock that you could buy today is Okta. The stock is already up by 115% since the start of the year, outperforming the broader market. Okta’s stock could surge higher over the coming weeks and months as investors take a position. The company’s long-term outlook is highly bullish.
Hedge fund Miracle Mile Advisors LLC recently increased its position in the company. Other institutional investors to do the same are; Lindbrook Capital LLC, Valeo Financial Advisors LLC, Truewealth LLC, and CSat Investment Advisory L.P.
More Cybersecurity Stocks to Buy Today
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