Cybersecurity Software And Hardware Stocks Index Up 5.5% Last Week

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Corporate spending on cyber security is expected to grow by 14% in 2024. That’s better than most information-technology spending categories suggesting that many cybersecurity software and hardware companies should be excellent long-term buys.Below are the stock performances of the top 10 cyber security companies last week, in descending order, along with a description of each company.

  • Zscaler (ZS): UP 11.5%

    • is a cloud security company that prevents cyber threats and data loss while providing users with fast, reliable zero trust connectivity to apps from anywhere.
  • SentinelOne (S): UP 9.8%

    • is a global leader in AI security using its Singularity™ Platform to detect, prevent, and respond to cyber attacks enabling organizations to secure endpoints, cloud workloads, containers, identities, and mobile and network-connected devices with speed, accuracy and simplicity.
  • Cloudflare (NET): UP 9.7%

    • allows websites to protect against online attacks along with providing other services.
  • Fastly (FSLY): UP 8.5%

    • provides DDoS, bot, and other protection services.
  • CrowdStrike (CRWD): UP 7.2%

    • is focused on cloud-native solutions and AI-driven threat detection and a leader in endpoint security
  • Qualys (QLYS): UP 5.6%

    • offers a complete set of cybersecurity products for small businesses that use’s Amazon Web Services (AWS) platform.
  • Palo Alto Networks (PANW): UP 3.0%

    • offers firewalls and other products
  • CyberArk Software (CYBR): UP 2.4%

    • enables secure access for any identity to any resource – protecting identities and critical assets by enabling Zero Trust and enforcing least privilege.
  • Varonis Systems (VRNS): UP 1.5%

    • provides security products that manage network events in real-time to detect any breaches or threats and expanded its support for Microsoft’s Office 365 platform in November 2023 by adding new features to protect against malicious emails.
  • Trend Micro (TMICY): DOWN 9.5%

    • is a leader in cloud and enterprise cybersecurity delivering a range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google for fast detection and response.
  • Summary
    The 10 constituents in the new munKNEE Cybersecurity Software and Hardware Stocks Index were UP 5.5%, on average, last week.

    Cybersecurity ETF
    Investing in a basket of cyber security stocks is a quick and easy way to get investment portfolio exposure to this critical segment of the tech sector. The Global X Cybersecurity ETF (BUG), for example, consists of 31 stocks, has an expense ratio of 0.51% and was UP 6.0% last week.More By This Author:Cannabis MSOs Down 11% Last Week Due To Year-End Tax-Loss Selling
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