Top 10 Cyber Security Stocks Up 15% In November; Now Up 80% YTD

Computer, Security, Padlock, Hacker, Hacking, Theft

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Corporate spending on cyber security is expected to grow by 14% in 2024 according to research firm, Gartner, and that's better than most information-technology spending categories suggesting that many cybersecurity software and hardware companies should be excellent long-term buys.


What Are The Main Types Of Cyber Security?

There are 4 types, namely:

  1. Network security: protects the connections between networks, including data transfers to and from the internet, and hardware like routers and switches
  2. Endpoint security: protects devices like laptops, phones, and servers
  3. Application security: protects software, data and access at the individual application level
  4. Cloud security: protects cloud environments and data from vulnerabilities and threat actors (source)


AI's Role In Cyber Security

AI makes it a perfect value addition technology for cyber security because it is fundamentally a complex mathematical equation that generates outputs with new data by using existing data which enables cyber security companies to train their models with data from previous attacks to create autonomous systems that can detect if an attack is ongoing based on certain readings. This provides companies and users with a critical capability in the risk management framework, as it increases their lead time for an attack and allows them to prepare mitigation and response strategies.


Cybersecurity Software and Hardware Stocks Index

eSecutityPlanet.com provides a list of cyber security companies (see here) and below is a short list of the top 10 of those companies in munKNEE's new Cybersecurity Software and Hardware Stocks Index. They are presented in descending order below as to their stock performances in November plus YTD, along with a description of each company, their market cap, and their latest news.

  1. Cloudflare (NET): UP 39.4%; UP 70.6% YTD
  2. Trend Micro (TMICY): UP 38.2%; UP 9.9% YTD
  3. CrowdStrike (CRWD): UP 37.1%; UP 125.1% YTD
  4. Varonis Systems (VRNS): UP 32.9%; UP 75.0% YTD
  5. SentinelOne (S): UP 28.0%; UP 48.2% YTD
    • is a global leader in AI security using its SentinelOne’s 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.
    • Market Capitalization: $5.9B
    • News: SentinelOne and Pax8 Double Down on Partnership to Secure SMBs
  6. Zscaler (ZS): UP 28.0%; UP 76.5% YTD
    • is a cloud security company that prevents cyberthreats and data loss while providing users with fast, reliable zero trust connectivity to apps from anywhere.
    • Market Capitalization: $29.4B
    • News: Is Zscaler a Buy?
  7. CyberArk (CYBR): UP 27.4%; UP 53.7% YTD
  8. Palo Alto Networks (PANW): UP 23.6%; UP 110.5% YTD
  9. Qualys (QLYS): UP 21.4%; UP 64.7%
  10. Fastly (FSLY): UP 17.6%; UP 102.8%


Summary

The 10 constituents in the new munKNEE Cybersecurity Software and Hardware Stocks Index had:

  • an average market capitalization of $24.1B
  • an average stock price of $131.98/share as of the end of November,
  • were UP 15.1%, on average, in November and
  • are now UP 80.0% YTD.  


Cybersecurity ETF

Individual stocks that develop security technology services could be volatile, but investing in a basket of them 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 18.4% in November and is now UP 29.0% YTD in comparison to the 10 constituents in the munKNEE Cybersecurity Software and Hardware Stocks Index.


More By This Author:

November Recap: Top 9 Micro/Small Cap AI Stocks Up +53%, On Average
November Recap: Conservative "Cannabis" Stocks Index Up 8%
Quantum Computing Hardware Developers Index Ends November Up 12%

Disclosure: None

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