As technology advances and its adoption becomes more and more massive, technological threats also grow. As important as it is to have good security in our homes so any intruder can not enter, we must do the same with our digital information — practically considered the gold of the new century. For this, we have cybersecurity companies in charge of doing the job very well. Here are three cybersecurity stocks you can consider adding to your portfolio.
Okta (OKTA)
We start the list of the great companies in charge of taking care of our digital world with Okta (NASDAQ:OKTA), which specializes in protecting our second identity — that is, our digital identity.
Part of its latest creations has been Okta AI Identity Threat Protection, practically a guard in charge of protecting our data. Best of all, it is leveraged on the great technology of artificial intelligence (AI).
By leveraging AI, this company can ensure user sessions remain completely secure from any threat.
One of Okta’s best attributes is it offers a unified platform that takes care of simplifying security management. That may seem completely complex, but the company makes it much more practical, efficient and effective.
Best of all, OKTA does its job incredibly well and is responsible for training people in the great world of cybersecurity.
Zscaler (ZS)
The next big guardian of the cyber world is Zscaler (NASDAQ:ZS), a great leader in cloud security. One of the incredible attributes that makes this company stand out is its innovative approach against cyber threats.
Financially, ZS is very stable and has had incredible growth. As it reported in its last quarterly report, the company increased its revenue by 40%, reaching $496.7 million. In addition to having wonderful growth, Zscaler decreased its net loss by about 50% year-over-year.
Part of Zscaler’s flagship product is Zscaler Zero Trust SASE, an amazing and completely innovative solution designed to simplify and improve the implementation of Zero Trust security in organizations.
The latest release, in conjunction with Zero Trust SD-WAN, demonstrated the company’s commitment to cutting-edge security.
Splunk (SPLK)
And to top it off, we have Splunk (NASDAQ:SPLK). Speaking of financials, the company’s last quarterly report showed a total revenue increase to $1.067 billion. The amazing thing about the numbers is the Cloud revenue growth of 26%. Incredible growth, without a doubt, means that the company is leveraging all the latest technology tools.
Splunk’s annual recurring revenue (ARR) was also impressive, growing 15% year-over-year. Operating cash flow increased by a stunning 182% over the same period, while operating expenses bumped up only slightly.
Something very significant to keep in mind is that Splunk is likely to be acquired by Cisco (NASDAQ:CSCO). The fact that a company as big as Cisco, part of the technology ecosystem, is interested in absorbing Splunk is a very good thing for investors. That’s because if we add the great power of both companies, the results, both operational and financial, could be incredible.
As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
