5 Top Cybersecurity Stocks To Watch In The Stock Market Today

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Jul 14, 2021 (StockMarket.com via COMTEX) — Could These Be The Best Cybersecurity Stocks To Have On Your Watchlist Now?

With investors turning back towards the tech industry,cybersecurity stockscontinue to flourish. After all, this segment of the stock market todayis home to companies whose services grow increasingly important by the day. Namely, this appears to be the case as cyber threats grow in terms of scale and frequency across the board now. On top of critical infrastructure and food production systems, hackers continue to ravage the private industry as well. Earlier this month, Florida-based IT firm Kaseya was hit by a ransomware attack by the REvil hacker group. Through Kaseya’s system, the group hit hundreds of small and medium-sized enterprises across several countries, demanding a ransom of $70 million.

Given all of this, it would make sense that governments and organizations alike would be looking to bolster their cybersecurity measures now. Accordingly, Singapore is planning to invest $50 million towards advancing research in cybersecurity and artificial intelligence (AI). With all these factors in play, hot names in the cybersecurity space could have more room to run. Evidently, companies such as CrowdStrike (NASDAQ: CRWD) and NortonLifeLock (NASDAQ: NLOK) are already looking at gains of over 30% year-to-date. By and large, we could be looking at busy times ahead for the cybersecurity industry. As such, I could see investors looking for the best cybersecurity stocks to invest in now. Should you be one of them, here are five names trending in the stock market this week.

Top Cybersecurity Stocks To Watch In July 2021

Qualcomm Inc.

Qualcomm is a multinational corporation that is headquartered in California. It continues to develop foundational technologies that transform how the world connects and communicates. Furthermore, the company’s products and software are used across a range of industries, from automotive to cybersecurity and virtual reality. Also, Qualcomm provides industrial IoT solutions, which include connectivity, cybersecurity, and accessibility. QCOM stock currently trades at $143.75 as of Wednesday’s close.

Earlier this month, the company announced its plan to collaborate with Capgemini to boost 5G private network implementations for many industries. Through this collaboration, both companies will provide quicker and easier access to the benefits of private networks in industrial and enterprise settings. Qualcomm says that this could be beneficial in private networks today especially when 5G is integrated with enhanced privacy. Ultimately, the company looks forward to expanding its clientele as it will be able to design and implement more private networks moving forward. With that in mind, will you consider investing in QCOM stock?

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Palo Alto Networks Inc.

Palo Alto is a global cybersecurity leader that continues to shape the industry by transforming the way people and organizations operate. In essence, the company is committed to addressing the world’s greatest cybersecurity challenges with its prowess in AI, analytics, automation, and orchestration. PANW stock closed Wednesday’s trading session at $386.30 a share and is up by over 55% in the last year.

In May, the company reported its fiscal third-quarter financials. Revenue for the quarter was $1.1 billion, up by 24% year-over-year. Non-GAAP net income was $139.5 million or $1.38 per diluted share. “The work-from-home shift earlier in the year and recent cybersecurity issues have increased the focus on security. Coupled with good execution, this has driven great strength across our business, with Q3 billings growth accelerating to 27% year-over-year,” said Nikesh Arora, chairman, and CEO of Palo Alto Networks. “We are pleased to be raising our guidance for fiscal year 2021 as we see these trends continuing into our fiscal fourth quarter, bolstering our confidence in our pipeline.” With such impressive financials, will you consider watching PANW stock?

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International Business Machines Corporation

IBM is a company that focuses on hybrid cloud and AI tech. It provides clients in more than 170 countries with insights from their data to streamline business processes, reduce costs, and gain a competitive edge. The company says that nearly 3,000 government and corporate entities in critical infrastructure rely on its hybrid cloud platform. Shares of IBM stock currently trade at $139.82 as of Wednesday’s closing bell.

Last week, the company announced that it plans to collaborate with Atos to build a new, highly advanced digital infrastructure for the Dutch Ministry of Defense. The ministry plans to use IBM’s and Atos’ services to construct new data centers, safeguard its IT systems, and build a proprietary broadband mobile network to help ensure classified government information is secured. Given how this is a testament to IBM’s cybersecurity business, is IBM stock worth watching right now?

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Palantir Technologies Inc.

Palantir is a software company that specializes in big data analytics and security. The company builds enterprise data platforms for both governmental and corporate organizations to help manage complex and sensitive data environments. Its platform has many applications, from discovering new drugs to combating terrorism. PLTR stock currently trades at $21.56 as of 4:00 p.m +0000 and has more than doubled in valuation in the past year.

Last month, the company announced that it has been contracted by the Federal Aviation Administration (FAA) to provide a data analytics tool that will help modernize the agency’s objectives for aviation safety. Palantir Foundry will support the FAA’s aircraft certification and continued operational safety activities. I’m not sure about you, but it appears to me that the company could achieve its goal of becoming the default operating system of the U.S. government. Furthermore, this reputation could make it a solid choice for large enterprise customers as well in the long run. With all that being said, will you watch PLTR stock?

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Zscaler Inc.

Last but not least, we will be taking a look at Zscaler Inc. In short, the California-based company specializes in cloud-based cybersecurity. Through its services, Zscaler primarily protects its customers’ data assets. For the most part, the company has and continues to do so via its Zscaler Zero Trust Exchange (ZTE) services. On top of that, the company also boasts a massive network of over 150 data centers strategically located across 185 countries. By integrating its ZTE and global network, Zscaler reportedly runs the world’s largest in-line cloud security platform.

More importantly, ZS stock is currently looking at gains of over 439% since its pandemic era low. This would indicate the uptick in demand for its services since then. With the company’s shares trading at $224.51 a stock as of Wednesday’s closing bell, could it be worth buying now? If anything, analysts from Mizuho (NYSE: MFG) and Needham & Company seem to believe so. Just this week, both firms hit ZS stock with a buy rating. Mizuho raised its price target to $250 a share citing “very favorable” demand trends fueling the company. Not to mention, Zscaler also recently expanded its existing partnership with ServiceNow (NYSE: NOW). Overall, it seems like Zscaler is firing on all cylinders now. Could this make ZS stock a top watch for you?

COMTEX_389818060/2688/2021-07-14T17:21:39

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