tradingkey.logo

BUZZ-Fortinet leads cybersecurity stocks; Crowdstrike manages Windows-outage in 2024

ReutersDec 31, 2024 3:45 PM

** CrowdStrike CRWD.O shares are up ~37% this year, as the cybersecurity company impressed its investors and analysts by handling the July 19 Windows-outage, which disrupted internet services globally

** Customers are benefiting from CRWD's "customer commitment packages" designed to boost customer relationships by offering flexible access to the company's products, analysts have said

** Fortinet FTNT.O shares, which are up ~63% this year, have outperformed the cybersecurity stocks; analysts have said that the company has an opportunity in the mid-market segment

** Palo Alto Networks' PANW.O shares are seen ending the year with ~25% gains, as it continues to benefit from consolidation efforts, standardizing security operations on a single platform

** Among peers, Zscaler ZS.O down ~17%, SentinelOne down ~18% and Okta OKTA.O down ~12% this year, as they grapple with stiff competition from bigger rivals

** Datadog DDOG.O shares up 19%, while Dynatrace DT.N down 0.6% this year

** Cybersecurity companies have seen strong demand due to growing security incidents, which have hit companies including Microsoft MSFT.O, Walt Disney DIS.N and AT&T T.N this year

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Related Articles

KeyAI