When it comes to cybersecurity issues, we’re all sitting ducks. That’s why investors should always dig into some of the top cybersecurity stocks to buy.Governments, companies, cities, hospitals, consumers, and schools are still grossly unprepared for attacks. Most recently, CDK Global, a company that provides U.S. auto dealers with software for sales management, was shut down because of new attacks.As noted by CBS News at the time: “The outage is disrupting roughly 15,000 car sellers that depend on CDK’s de ...

The latest trading session saw CyberArk (CYBR) ending at $262.79, denoting a +0.02% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.16%. On the other hand, the Dow registered a gain of 0.04%, and the technology-centric Nasdaq increased by 0.49%.The maker of software that detects attacks on privileged accounts's shares have seen an increase of 10.57% over the last month, surpassing the Computer and Technology sector's gain of 5.94% and the S&P 500's gain of 3.22%.The upco ...

Knowing which tech stocks to buy may be crucial to financial success and portfolio growth. Tech stocks are expected to drive market interest through 2024, with breakthroughs redefining industries and securing significant investor interest. Three businesses, each making a distinct contribution to the tech industry, perfectly capture this trend. Innovations in AI, cybersecurity, and identity management are not simply catchphrases; they are essential elements that are changing the face of business throughout t ...

CyberArk Software Ltd. (CYBR) stock has demonstrated decent price performance this year so far. Year to date, CYBR has gained 15.2%, outperforming the Zacks IT Services industry’s growth of 4.6%. The company’s sustained focus on expanding its customer base has turned investors optimistic about its growth prospects.Recently, Coca-Cola Hellenic Bottling Company (“Coca-Cola HBC”), a bottling partner of The Coca-Cola Company (KO) , has selected CyberArk Identity Security platform. By implementing CyberArk’s pri ...

Industry Overview - Cybersecurity stocks are considered strong long-term investments due to the increasing threat of cyber attacks, with global cybercrime damage costs projected to reach $10.5 trillion annually by 2025, up from $3 trillion in 2015 [1] - A significant portion of small to medium businesses (65%) do not perceive themselves as targets for cyberattacks, highlighting a gap in awareness [1] - The global cost of cybercrime exceeded $8 trillion last year and is expected to surpass $11 trillion by the end of 2023, with ransomware attacks being 57 times more destructive in 2021 compared to 2015 [1] Company Summaries Cloudflare (NET) - Cloudflare operates a global cloud platform offering network services, with around 30% of the 10,000 most popular websites utilizing its services [2] - For 2024, Cloudflare forecasts revenue between $1.648 billion and $1.652 billion, representing a year-over-year growth of 22-24% [3] - The company has a quarterly revenue growth of 30.5% year-over-year, with an analyst target price of $90.33 [3] Fortinet (FTNT) - Fortinet has a market cap of approximately $54 billion and is expected to grow revenue by about 12.85% and EPS by 11.11% in 2024 [4] - Projected revenue for Q1 2024 is between $1.30 billion and $1.36 billion, with billings expected between $1.39 billion and $1.45 billion [4] - Fortinet's quarterly earnings growth year-over-year is 25.8%, with a trailing P/E ratio of 38.8 [5] Zscaler (ZS) - Zscaler serves many Fortune 500 and Fortune 1000 companies, with a strong quarterly revenue growth of 32.1% year-over-year [6][7] - The average target price for Zscaler is $236.14, indicating significant upside potential [7] Rapid7 (RPD) - Rapid7 specializes in vulnerability management and reported a quarterly revenue growth of 12% year-over-year [8] - The company has a positive operating margin of 5.06% and an EBITDA of $52.858 million [8] - Current market valuation suggests that negative sentiment may already be reflected in the stock price, presenting a potential buying opportunity [8] Tenable (TENB) - Tenable is known for its Nessus vulnerability scanner and reported a quarterly revenue growth of 14.4% year-over-year [9][10] - The company exceeded analysts' expectations with earnings per share of $0.25 and revenue of $215.96 million for the quarter [10] CyberArk (CYBR) - CyberArk specializes in identity security, reporting a 406% increase in EPS and a 32% year-over-year revenue growth in Q4 [11] - The company has a market capitalization of over $10 billion, with 30 out of 31 analysts rating the stock as a "Buy" or "Strong Buy" [11] Varonis Systems (VRNS) - Varonis focuses on data security and reported a 6.2% year-over-year revenue growth [12] - The company expects to achieve an ARR between $617 million and $625 million for 2024, reflecting a 14% to 15% year-over-year growth [12]

Cybersecurity stocks to buy benefit from an incredibly cynical narrative: when bad things happen in the digital realm, the bullish case for the aforementioned sector rises.Given this correlation, it’s easy to see why some folks have a conspiratorial view of the cybersecurity ecosystem. Not only that, the underlying narrative isn’t accretive or productive. In other words, the expenditures in protection against digital breaches don’t forward the underlying business. Rather, they allow the business to stay in ...

CyberArk (CYBR) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this maker of software that detects attacks on privileged accounts have returned +2.4%, compared to the Zacks S&P 500 composite's +7.3% change. During this period, the Zacks Computers - IT Services industry, which CyberArk falls in, has gained 9.8%. The key question now is: What could be the ...

Cybersecurity Industry Overview - The U.S. Environmental Protection Agency (EPA) has warned that cyberattacks on water utilities are increasing in frequency and severity, prompting a call for immediate protective measures for drinking water systems [1] - The global cost of cybercrimes reached $8.44 trillion in 2022 and is projected to rise to $23.84 trillion by 2027, indicating a growing threat that necessitates serious attention from governments, businesses, and individuals [2] Company Highlights Radware (RDWR) - Radware's stock rose from $16.85 to a high of $20.42 after launching a new AI-powered DNS DDoS attack protection solution [3] - The company reported Q1 earnings per share (EPS) of 16 cents, beating estimates by three cents, with revenue of $65.1 million, down 5.7% year-over-year but exceeding expectations by $1.53 million [3] - CEO Roy Zisapel expressed optimism about capitalizing on growth in cloud security and partner channels, aiming for revenue growth and improved profitability in 2024 [4] Palo Alto Networks (PANW) - Palo Alto Networks' shares have increased from around $260 to $323.77 since February, with a target to refill a bearish gap at approximately $370 [5] - The company reported Q3 EPS of $1.23, beating estimates by seven cents, and revenue of $1.98 billion, up 15.1% year-over-year, exceeding expectations by $10 million [5] - For Q4, the company anticipates billings between $3.43 billion and $3.48 billion, reflecting a year-over-year growth of 9% to 10%, and total revenue expectations of $2.15 billion to $2.17 billion [5] - Palo Alto Networks has partnered with IBM to develop AI-powered security solutions [6] CyberArk (CYBR) - CyberArk's stock has rebounded from around $225 to $249.70, with potential for further gains if it surpasses its 50-day moving average [7] - The company acquired Venafi for $1.54 billion, which is seen as a significant step towards enhancing its identity security capabilities [7] - CyberArk reported Q1 EPS of 75 cents, beating estimates by 48 cents, and revenue of $221.6 million, up 37% year-over-year, exceeding expectations by $8.38 million [7] - The subscription portion of its annual recurring revenue (ARR) increased by 54% to $621 million year-over-year, with total ARR rising 69% to $156.2 million [7] - The company raised its revenue outlook for Q2 to between $215 million and $221 million, indicating a growth of 22% to 26%, and for the full year, it expects revenue between $928 million and $938 million, or 23% to 25% growth [8][9]

Core Viewpoint - CyberArk Software Ltd. has announced a definitive agreement to acquire Venafi for $1.54 billion, aiming to enhance its machine identity security capabilities and expand its market presence [1][5][6]. Group 1: Acquisition Details - The acquisition involves a cash-stock deal where CyberArk will pay $1 billion in cash and $540 million in shares [1]. - The transaction has been approved by both companies' boards and is expected to close in the second half of 2024, pending regulatory approvals [1]. - Venafi's contribution is anticipated to be around $150 million in annual recurring revenues, with 95% of revenues being recurring [5]. Group 2: Market Context - The number of machine identities has surged, currently outnumbering human identities by a ratio of more than 40 to 1, making them a target for cybercriminals [2]. - The growth in machine identities is expected to continue outpacing human identities, necessitating advanced management approaches [3]. Group 3: Synergies and Market Impact - The acquisition will combine Venafi's strengths in certificate lifecycle management and IoT identity management with CyberArk's expertise in secrets management, enhancing security and reducing outages [4]. - This strategic move is projected to expand CyberArk's total addressable market by nearly $10 billion, bringing it to approximately $60 billion [5]. - The combined offering is expected to deliver substantial value to shareholders and position CyberArk at the forefront of the identity security market [6].

CyberArk plans to acquire Venafi from Thoma Bravo for an enterprise value of about $1.54 billion, saying it aims to create a unified platform for machine identity security at scale.The acquisition will add Venafi’s machine identity management solutions to CyberArk’s identity security capabilities, the companies said in a Monday (May 20) press release.Subject to regulatory approvals and other customary closing conditions, the transaction is expected to close in the second half, according to the release.“Our ...