by Fred Fuld III
It seems like every week, you hear about another cybersecurity breach. Just a couple weeks ago, there was a major issue at T-Mobile affecting over 40 million people.
The biggest tech companies, such as the FAANG stocks, are already spending a significant amount of money on fighting hackers. Microsoft (MSFT) and Google (GOOGL) are planning on spending $30 billion on cyber security during the next several years.
There are many companies in the cybersecurity industry that are helping out companies, organizations, and governments with protection against these cyber threats.
The following is a selection of cybersecurity stocks in no particular order.
Palantir (PLTR) offers cybersecurity software with three platforms Palantir Gotham for government agencies, Palantir Metropolis for banks and financial institutions, and Palantir Foundry other corporations. The stock has a forward price to earnings ratio of 169 and recently reported negative earnings.
Palo Alto Networks (PANW), which is actually based in Santa Clara, California, provides firewall appliances and cybersecurity software. The stock has a forward price to earnings ratio of 64 and recently reported negative earnings.
CrowdStrike (CRWD) is a provider of cloud-delivered solutions for endpoint and cloud workload protection in various countries around the world. The stock has a forward price to earnings ratio of 769. Earnings are negative.
Cloudflare (NET), based in San Francisco, is a provider of integrated cloud-based security solutions. Earnings are negative.
Check Point Software Technologies (CHKP), based in Israel, is a provider of products and services for IT security worldwide. Not only is this one of the few cybersecurity companies not based in California, it is also one of the few that is generating positive earnings. The stock trades at 20.5 time trailing earnings and 18.4 times forward earnings.
Fortinet (FTNT), based in Sunnyvale, provides integrated, and automated cybersecurity solutions worldwide. It is one of the other companies that generates earnings with a P/E of 100 and a forward P/E of 85.
Zscaler (ZS) is as a cloud security company based in San Jose. The stock has a forward P/E of 526.
Other security stocks include FireEye (FEYE), Mimecast (MIME), and several others.
Maybe one of these stocks will provide security to your stock portfolio.
Disclosure: Author owns PLTR.