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

Okta

31/12/2024 15:45

** 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

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 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))