Cybersecurity Spending Is Slowing: 2 Top Stocks That Can Weather the Storm
The big takeaway from cybersecurity stock earnings reports in recent weeks is that even this pocket of strength in the computing tech industry is getting impacted by higher interest rates and economic slowdowns. Indeed, as important as digital security is these days, organizations are looking to cut costs -- even by slowing their spend on much-needed cyber-software if need be.
Industry pure-play leaders Palo Alto Networks and Fortinet reported cool-offs are coming, and even cloud-native hypergrowth outfits CrowdStrike (NASDAQ: CRWD) and Zscaler (NASDAQ: ZS) have been affected a bit. However, a slowdown doesn't automatically spell disaster for these two younger companies in the cybersecurity world. Here's why CrowdStrike and Zscaler can weather the storm, and a look at whether the stocks are worth buying now.
CrowdStrike burst onto the public investment scene in 2019 with its AI-powered endpoint cybersecurity platform -- designed for user devices and other hardware at the network "edge" -- just in time for blastoff early in the pandemic. But the company has barely skipped a beat, as it has successfully been gobbling up market share of the endpoint market from leaders like Microsoft. Trailing-12-month revenue has gone from just a few hundred million to nearly $3 billion.
Source Fool.com
CrowdStrike Holdings Inc Stock
With 138 Buy predictions and 2 Sell predictions CrowdStrike Holdings Inc is one of the favorites of our community.
With a target price of 336 € there is a positive potential of 40.06% for CrowdStrike Holdings Inc compared to the current price of 239.9 €.
