5 US cybersecurity stocks to watch in 2022

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5 US cybersecurity stocks to watch in 2022

 5 US cybersecurity stocks to watch in 2022
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Highlights

  • The stock value of Palo Alto Networks, Inc. (NASDAQ: PANW) rose 51.24% year-to-date.
  • CrownStrike Holdings, Inc. (NASDAQ: CRWD) landed the number one place in the 2021 Fortune Future 50 list.
  • The revenue of Zscaler, Inc. (NASDAQ: ZS) jumped 62% year-over-year in Q1, FY22.

Cybersecurity stocks have gained traction in the market, aided by the global shift towards the digital industry. The Covid-19 pandemic has accelerated the trend, while various businesses have moved towards the remote work model.

However, with the increasing pace of digitalization, concerns of cyber attacks or hacking have also increased. The increasing concerns of cybersecurity have fueled gains in the sector, as businesses have increased their spending in the sector.

Here we explore some of the cybersecurity stocks that could continue to make headlines in 2022.

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Palo Alto Networks, Inc. (NASDAQ: PANW)

Palo Alto is a cybersecurity firm that offers advanced firewalls, cloud-based services and products that are used to enhance online security. The firm is based out of Santa Clara, California.

The shares of the company closed at US$531.85 on December 10, up 0.82% from their closing price of December 9. Its stock value increased by 51.24% year-to-date (YTD).

The firm has a market cap of US$52.47 billion. Its 52-week high and low were US$559.54 and US$300.00, respectively. Its trading volume was 1,217,690 on December 10.

The company's revenue was US$1.2 billion in Q1, FY22, representing an increase of 32% YoY. Its non-GAAP net income for the period came in at US$170.3 million, or US$1.64 per diluted share, as compared to US$158.1 million, or US$1.62 per diluted share in Q1, FY21.

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Cybersecurity stocks: PANW, CRWD, ZS, FTNT, MIME

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CrowdStrike Holdings, Inc. (NASDAQ: CRWD)

CrowdStrike is a cybersecurity technology firm headquartered in Sunnyvale, California. It offers cloud workload and endpoint security, threat intelligence, and other related services.

The stock of the company closed at US$198.60 on December 10, down by 1.33% from its previous closing price. The CRWD stock is down 0.94% YTD.

The market cap of the company is US$45.54 billion. The stock saw the highest price of US$298.48 and the lowest price of US$164.15 in the last 52 weeks. Its share volume on December 10 was 3,326,734.

On December 2, the firm has announced that it had landed the number one position in the 2021 Fortune Future 50 list.

Meanwhile, the revenue of the firm increased by 63% YoY to US$380.1 million in Q3, FY22. On a GAAP basis, it reported a net loss of US$50.5 million, or a loss of US$0.22 per share, against a loss of US$24.5 million, or a loss of US$0.11 per share in Q3, FY21.

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Zscaler, Inc. (NASDAQ: ZS)

Zscaler is a cloud-based cybersecurity firm that aids in decreasing business risk while providing various technology services. It is based in San Jose, California.

The shares of the company closed at US$305.75 on December 10, up 0.89% from their closing price of December 9. Its stock value increased by 55.92% YTD.

The firm has a market cap of US$42.82 billion. The 52-week high and low were US$376.11 and US$157.03, respectively. Its trading volume was 1,929,399 on December 10.

The company's revenue rose 62% YoY to US$230.5 million in Q1, FY22. On a non-GAAP basis, it reported a net income of US$21 million, as compared to an income of US$20 million in the same quarter of the previous year.

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Fortinet, Inc. (NASDAQ: FTNT)

Fortinet is an information security company based in Sunnyvale, California. It develops and sells cybersecurity services like firewalls, antivirus software, and other related services.

 

The stock of the company closed at US$332.63 on December 10, up 5.12% from its previous closing price. The FTNT stock rose 128.52% YTD.

 

The market cap of the company is US$54.38 billion, the P/E ratio is 100.19, and forward one-year P/E ratio is 111.02. Its EPS is US$3.32.

The stock saw its highest price of US$355.35 and the lowest price of US$124.16 of the last 52 weeks. Its share volume on December 10 was 1,380,360.

The revenue of Fortinet was US$867.2 million in Q3, FY21, representing an increase of 33% from the year-ago quarter. On a GAAP basis, its net income came in at US$163.1 million, as compared to US$123.4 million in Q3, FY20.

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Cybersecurity stocks to watch in 2022

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Mimecast Limited (NASDAQ: MIME)

Mimecast is a cloud-based email management firm that provides security, archiving, and other related services. It is based in London, United Kingdom.

The shares of the company closed at US$79.25 on December 10, up 0.08% from their closing price of December 9. Its stock value increased by 46.64% YTD.

The firm has a market cap of US$5.26 billion, a P/E ratio of 120.08, and a forward one-year P/E ratio of 107.01. Its EPS is US$0.66.

Its 52-week high and low were US$85.48 and US$38.84, respectively. Its trading volume was 2,462,379 on December 10.

The company reported a total revenue of US$147.23 million in Q2, FY22, up 20% from US$122.69 million in the second quarter of fiscal 2021. Its net income came in at US$17.58 million, or US$0.26 per diluted share, as compared to US$10.05 million, or US$0.15 per diluted share in Q2, FY21.

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Bottom line:

The US has witnessed various cyber attacks including the attacks on the meat processing company, JBS SA, and Colonial Pipeline Co., this year, and thus, the government has also shifted its focus towards the sector. Meanwhile, investors have pushed the US technology industry higher this year, evident by the growth of the sector. The S&P 500 Information Technology index surged 33.94% YTD while increasing 16.96% QTD.

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