Work from home has led to an increase in the use of cloud computing and online activities. The increasing use of virtual platforms and higher reliance on them makes cybersecurity very important. Not only does sensitive personal data need to be protected, but online platforms also need to maintain their uptime so that business activity isn’t disrupted.
With this trend playing out, there has been a focus on cybersecurity stocks to buy. Both cybersecurity and cloud security spending has increased significantly over the past few years. This strong demand in cybersecurity makes Palo Alto Networks, Zscaler Inc, and Cloudfare Inc three stocks to watch for. They can potentially turn out to be the top cybersecurity stocks to buy in 2020.
Palo Alto Networks is one of the leaders in the cybersecurity segment. It is best known for its firewall and cloud security solutions. The company does business with 85 of the Fortune 100 companies. So, it has some pretty large clients and its products are integrated with the mission-critical systems of those clients. The stock recently broke through an important resistance zone at $250 and now looks poised to rise further.
Zscaler is another one of the top cybersecurity stocks to buy. It has been making new all-time-highs for the last couple of months. The company specializes in sandboxing, firewalls, SSL inspection, anti-virus, etc. The company’s Private Access service became the first zero-trust remote access service to be certified by the US federal government.
The last of the picks among the top cybersecurity stocks 2020 is Cloudflare. The company’s stock is in a strong uptrend. It has had a steep run-up over the last 6 months. Cloudflare’s services are geared towards website security. It has solutions for video streaming and has recently launched a serverless cloud-computing platform called Workers Unbound.