![]() ![]() The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. One reason for optimism is the company’s Charlotte AI suite of AI tools that focuses on generative AI and addresses the sophisticated nature of current cyber-attacks. With promising new products for users, CrowdStrike makes my list. But that doesn’t mean there isn’t upside still ahead. However, like Palo Alto, CrowdStrike isn’t flying under the radar. The year-over-year (YOY) growth in revenue is particularly impressive. However, in the last two quarters, the company has beat on revenue and earnings expectations. Unlike the other cybersecurity stocks on this list, CrowdStrike is not consistently profitable. In the last three months, 44 analysts have issued a rating on CrowdStrike and 32 of those analysts have upgraded the stock. When Splunk ( SPLK -0.18) reported its fiscal fourth-quarter 2023 earnings on March. One metric that many investors use to analyze stocks to buy is the number of analysts that upgrade the stock., and that’s a key reason that CrowdStrike (NASDAQ: CRWD) makes this list. This big data stock should explode higher out of this economic downturn due to rapidly growing free cash flow. Here are three choices for investors to consider heading into 2024. But in this stock picker’s market, there’s still a benefit in looking for cybersecurity stocks you can profit from right now. There are many cybersecurity stocks for you to consider and many of these are likely to pay off if you have a long-term focus. Bear in mind Splunk is a sizable purchase, and that 28 billion price tag will weigh on Cisco net income (since amortization expense related to. In fact, a McKinsey study finds that 60% of companies that are adopting AI realize that cybersecurity risks generated by AI are their most relevant ones. But does all of this make Cisco stock a buy Maybe. This is a 0.62 percent up since the beginning of the trading day. And AI makes it easier for bad actors to introduce new threats. Splunk is selling for 151.54 as of the 1st of December 2023. Unquestionably, AI is helping companies identify threats, but there are two players in the game of information security. Recent growth has been spurred by the emergence of artificial intelligence ( AI). 21, Cisco (NASDAQ:CSCO) announced its intentions to buy Splunk (NASDAQ:SPLK). That’s why it’s time for investors to leave room for cybersecurity stocks in their portfolio. Splunk stock still trades 8 below the buyout price. In addition to strong demand, these products command high margins. ![]() InvestorPlace - Stock Market News, Stock Advice & Trading TipsĬybersecurity has been around for several years and will continue to be one of the fastest growing sectors. ![]()
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