3 Top Stocks to Buy for Cybersecurity Exposure

Cybersecurity Industry Overview - Cybersecurity involves comprehensive security measures to protect systems, networks, and programs from digital attacks, which can compromise sensitive information, extort money, or disrupt business operations [2] - The increasing adoption of AI, IoT devices, and digitization has heightened vulnerabilities, necessitating advanced security solutions [2] Palo Alto Networks (PANW) - Palo Alto Networks is experiencing robust demand, with sales growth showing double-digit percentage year-over-year growth for ten consecutive periods [3] - The company's remaining performance obligation (RPO) grew 20% year-over-year to $12.7 billion, with a forward 12-month earnings multiple of 58.6X reflecting high growth expectations [5] - Consensus expectations suggest a 10% EPS growth and a 14% sales increase for the current fiscal year [5] CyberArk Software (CYBR) - CyberArk is a leader in identity security, with a bullish outlook for the current fiscal year, expecting a 105% year-over-year growth in EPS [6] - The company reported record revenue and a nearly 50% increase in subscription revenue to $158.4 million compared to the previous year [7] - Following strong quarterly results, CyberArk raised its full-year guidance, contributing to a positive share reaction [7] Fortinet (FTNT) - Fortinet is recognized for driving the convergence of networking and security, with a 17% increase in expected EPS for the current fiscal year [9] - The company reported record operating margins and raised its 2024 sales outlook, with cash flow from operations totaling $342 million [9]