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- 1 Cybersecurity stocks are expected to skyrocket in 2023, with increased demand for data security.
- 2 The COVID-19 outbreak and the urge for remote work and cloud computing, make cybersecurity a major landscape to invest in.
Most businesses have adopted digital technologies for work since the COVID-19 outbreak. Practices like remote working made businesses completely dependent on the technologies. However, the upsurge in digital technologies also raised unethical practices like hacking, spam, cyberbullying, phishing, etc., and enhanced the demand for cybersecurity services. Individuals who want to make money from the opportunity can make investments in cybersecurity stocks. Below are some top cybersecurity stocks to consider for 2023 stock investment.
Crowdstrike Holdings (CRWD)
Crowdstrike Holdings is one of the best stocks to invest in 2023 because of its market value and leading name in the cybersecurity landscape. It is one of the largest pure-play cybersecurity firms in the market with approximately $40 Billion market value. The current stock price of CRWD is $150.75 and is expected to reach around $330.10 by the end of 2025. The stock price of Crowdstrike Holdings is expected to continue to grow with enhanced revenue by 113.1% to 20.2% per annum.
Zscaler (ZS)
Investing in Zscaler stock is another good deal to make in 2023. The company offers services related to cloud computing and internet security and has a market value of $22.24 Billion. Zscaler is a data security specialist and is in high demand in the age of cybersecurity and hacking risks. The stock is a good investment for long-term benefits and to estimate a strong buy at present. The current stock price of Zscaler is $145.14 and is expected to reach approximately $355.06 by the end of 2025.
Okta (OKTA)
Okta is an American identity and access management firm based in San Francisco and is considered the leader in the field. The use of zero-trust architecture for conventional security boosted the firm’s demand in the technological world. The current stock price of Okta is $73.53 and is expected to touch around $306.35 by the end of 2025. The current market value of the firm is $11.93 Billion and expected a hike shortly due to the high demand for first-class security services.
SentinelOne (S)
SentinelOne is one of the strongest competitors of Crowdstrike Holdings at present giving tough competition in terms of cybersecurity services. The firm came into light with the firm earning $1.2 Billion in June 2021 leading the business value to $10 Billion. The stock price of SentinelOne at present is $15.11 and is assumed to touch $68.92 by the 2025 end. The stock has a current consensus rating of hold.
Palo Alto Networks (PANW)
Palo Alto Networks is a global security leader offering a cloud-centric future with technological advancement. The market value of the firm is around $69.09 Billion at present, making it one of the largest cyber-specific stocks to invest in 2023. The stock price of PANW is around $239.01 and will touch $348.41 in 2025. Investing in PANW expects to bring great returns in the future.
Conclusion
The enhanced use of technology and digital tools increased the value of cybersecurity businesses in the stock marketplace. Crowdstrike Holdings, Zscaler, Okta, SentinelOne, and Palo Alto Networks are some best cybersecurity stocks to invest in 2023.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
