As our lives continue to move online, cybersecurity has become an increasingly important concern for individuals and companies alike.
As a result, investing in cybersecurity stocks has become an attractive option for those looking to diversify their portfolio with companies that are well positioned to benefit from this trend.
Here are two cybersecurity stocks that investors may want to consider buying and holding for the long term:
- Palo Alto Networks (PANW) Palo Alto Networks is a leading provider of cybersecurity solutions for enterprises, service providers, and government organizations. The company offers a range of products and services, including firewalls, cloud security, endpoint protection, and threat intelligence.
Palo Alto Networks has seen strong revenue growth in recent years, with revenue increasing from $1.4 billion in fiscal year 2016 to $3.4 billion in fiscal year 2020.
The company has also been investing heavily in research and development, with R&D expenses increasing from $465 million in fiscal year 2016 to $896 million in fiscal year 2020.
In addition to its strong financials, Palo Alto Networks has also been recognized as a leader in the cybersecurity industry.
The company has received numerous awards for its products and services, including being named a Leader in the Gartner Magic Quadrant for Network Firewalls.
- Fortinet (FTNT) Fortinet is another leading provider of cybersecurity solutions, with a focus on network security. The company offers a range of products and services, including firewalls, secure access, and cloud security.
Fortinet has seen strong revenue growth in recent years, with revenue increasing from $1.4 billion in fiscal year 2016 to $2.6 billion in fiscal year 2020. The company has also been investing heavily in research and development, with R&D expenses increasing from $335 million in fiscal year 2016 to $597 million in fiscal year 2020.
Fortinet has also been recognized as a leader in the cybersecurity industry, The company has received numerous awards for its products and services, including being named a Leader in the Gartner Magic Quadrant for Network Firewalls.
Both Palo Alto Networks and Fortinet are well positioned to benefit from the continued growth in demand for cybersecurity solutions.
As more and more businesses move online and cyber threats become increasingly sophisticated, companies that provide robust and comprehensive cybersecurity solutions will be in high demand.
Investors looking to buy and hold cybersecurity stocks for the long term may want to consider adding these two companies to their portfolio.
While there are no guarantees in the stock market, these companies have strong financials, a proven track record of success, and are well positioned to benefit from the continued growth in demand for cybersecurity solutions.
