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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.

1. 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.
2. 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.
3. Cloudflare (NET): UP 9.7%
   • allows websites to protect against online attacks along with providing other services.
4. Fastly (FSLY): UP 8.5%
   • provides DDoS, bot, and other protection services.
5. CrowdStrike (CRWD): UP 7.2%
   • is focused on cloud-native solutions and AI-driven threat detection and a leader in endpoint security
6. Qualys (QLYS): UP 5.6%
   • offers a complete set of cybersecurity products for small businesses that use Amazon.com's Amazon Web Services (AWS) platform.
7. Palo Alto Networks (PANW): UP 3.0%
   • offers firewalls and other products
8. 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.
9. 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.
10. 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.

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