- Fortinet, Inc. (NASDAQ: FTNT) company has a P/E ratio of 103.94 and EPS of US$3.32.
- Zscaler, Inc. (NASDAQ: ZS) said on Thursday that it achieved 100% green energy goals for its offices and over 150 data centers through purchasing renewable energy and credits.
- Palo Alto Networks, Inc. (NASDAQ: PANW) has recently unveiled its next-gen cloud solutions at its Ignite '21 conference.
US water service providers are facing increased threats from ransomware attacks in the Us in the absence of adequate security from federal agencies, say some experts. Meanwhile, they have called for more federal funding to protect the utility firms from hackers, WSJ reported.
As a result, the role of cybersecurity companies has become paramount. This need for superior security is expected to accelerate related technology development and growth in the industry.
Here we discuss five companies that provide products and services against cyberattacks.
Fortinet, Inc. (NASDAQ: FTNT)
Fortinet sells cybersecurity products and services for threat management, firewalls, network security, etc.
The Sunnyvale, California-based company generated US$867 million in revenue and US$163 million in net income in the September quarter of 2021.
5 cybersecurity stocks to consider as ransomware threats increase
On Thursday, Fortinet became the official cybersecurity partner of the European Tour under a multi-year partnership. The company aims to make the digital world safe from cyberattacks.
It has a US$56 billion market cap. The P/E ratio is 103.94, and the EPS is US$3.32.
The stock closed at US$341.35 on Nov 17, 2021.
CrowdStrike Holdings, Inc. (NASDAQ: CRWD)
This company offers packaged cybersecurity protection like individual security modules, end-point solutions, attack remediation, and threat hunting to augment security. In addition, its cloud platform collects data, analyzes, and updates the customer’s security position.
Founded in 2011, the company went public in 2019. It earned revenue of US$337.6 million and a net loss of US$57.3 million for the July quarter of 2021. The California-based company has a current market capitalization of US$61 billion. Its stock closed at US$269.78 on Nov 17, 2021.
Zscaler, Inc. (NASDAQ: ZS)
The company’s unique cloud-based solutions help customers to improve their cybersecurity. It is also focused on reducing energy consumption and using renewable energy.
On Thursday, it announced to have achieved 100% renewable energy for its offices and over 150 data centers using directly purchased renewable energy and renewable energy credits.
The company earned revenue of US$197 million and reported a net loss of US$81 million in the quarter ended July 31, 2021. Its current market capitalization is US$50 billion. The stock closed at US$356 on Nov 17, 2021.
Palo Alto Networks, Inc. (NASDAQ: PANW)
This cybersecurity vendor provides security appliances and support to clients, including the government, service providers, and enterprises. It offers firewall appliances and endpoint protection along with cybersecurity analytics and cloud security.
The cybersecurity vendor posted revenue of US$1.2 million and a net loss of US$119 million in the July quarter of 2021. On Nov 16, Palo Alto unveiled its new security solutions at its Ignite 2021 conference. Its new integrated platform is aimed to secure full application lifecycle and next-generation cloud access security broker.
Its current market capitalization is US$50 billion. The stock closed at US$513.76 on Nov 17.
Okta, Inc. (NASDAQ: OKTA)
The company went public in 2017. It sells products to protect employees, partners, customers, end-users, and contractors. Its software solutions are cloud-delivered to provide security across applications.
For the quarter ended July 31, 2021, the company earned revenue of US$315 million and reported a net loss of US$277 million. The company has a market capitalization of US$40 billion. The stock closed at US$266.42 on Nov 17.
Small enterprises are at high risk due to a lack of funds for cyber protection. Of late, there have several instances of ransomware attacks in the US. Hence, with increased digitalization, the need for a robust cybersecurity system has also been growing. However, investors must analyze the companies and the overall market situation carefully before investing in stocks.