2 Cybersecurity Stocks You Can Buy and Hold for the Next Decade
There's no denying that the cybersecurity industry has a massive runway ahead of it. According to one estimate, the global cybersecurity market is projected to reach more than $367 billion by 2029, a compound annual growth rate (CAGR) of 13% from 2021.
With such a large opportunity, there are plenty of businesses trying to gain market share. Two of these companies, CrowdStrike (NASDAQ: CRWD) and Fortinet (NASDAQ: FTNT), are at the top of my list of stocks in this space to hold for the long term. Let's dig in and see why.
CrowdStrike most recently reported its fiscal 2023 first quarter (ending April 30) results, and they were impressive. Revenue increased 61% year over year to $488 million, and the company generated $158 million in free cash flow. CrowdStrike is consistently cash flow positive, which is important because it's not yet profitable. That said, CrowdStrike took a big step toward profitability in Q1, posting a net loss of $31.5 million, compared to a loss of $85 million in the year-ago quarter.
Source Fool.com
