Cybersecurity Software Stocks Index Only Up 2.3% In February; Now Up 10% YTD

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The cybersecurity software stocks category, as measured by the Global X Cybersecurity ETF (BUG), was up 42% in 2023 and, based on the positive affect that the anticipated 14% increase in spending on cyber security in 2024 will have on the stocks in the cyber security category, a similar performance is forecast for 2024. That being said, however, the munKNEE Cybersecurity Software Stocks Index is off to a slow start only going up 2.3% in February but with a respectable 10.0% increase YTD.

Below is how each of the 10 constituents in the Index performed in February, in descending order, and YTD, plus news, commentary, and/or analysis where applicable.

  1. Varonis Systems (VRNS): up 13.2% in February; up 12.2% YTD
  2. CyberArk Software (CYBR): up 12.9% in February; up 20.4% YTD
  3. CrowdStrike Holdings (CRWD): up 10.8% in February; up 27.0% YTD 
  4. SentinelOne (S): up 9.3% in February; up 2.7% YTD
    • 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.
    • Latest News, Commentary, and/or Analysis:
  5. Palo Alto Networks (PANW): up 8.2% in February; up 5.3% YTD
    • provides subscription services covering the areas of threat prevention, malware, and persistent threat, URL filtering, laptop and mobile device protection as well as DNS, Internet of Things, SaaS, API, and SaaS security inline, and threat intelligence, and data loss prevention.
    • Latest News, Commentary, and/or Analysis:
  6. Fortinet (FTNT): up 7.2% in February; up 18.1% YTD
  7. Zscaler (ZS): up 2.7% in February; up 9.2% YTD
  8. Tenable Holdings (TENB): up 2.3% in February; up 4.6% YTD
  9. Check Point Software (CHKP): up 0.9% in February; up 5.0% YTD 
  10. Qualys (QLYS): down 9.2% in February; down 12.4% YTD


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 2.2% last week and is now up 4.2% YTD.

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Disclosure: None

This article has been composed with the exclusive application of the human intelligence (HI) of the author. No artificial intelligence (AI) technology has been deployed. ...

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