Cybersecurity spending isn’t slowing down!
Palo Alto Networks $PANW reported earnings yesterday posting:
- Adj. EPS of $1.79 vs. $1.68 expected
- Revenue of $1.39B vs. $1.36B expected
A rare double beat for this earnings season. As a result, $PANW was up over 12% after-hours.
The cybersecurity industry is projected to be worth around $146B by the end of the year. Statista expects this industry to grow at an annual rate of 9.7% until 2026.
With tailwinds like these, cybersecurity stocks are in a great position over the next few years.
We can see this stability ourselves by looking at revenue growth for companies in this sector.
Crowdstrike $CRWD is the only stock to see its revenue growth decline over the past two years, but it is still at 63%!
Even with these tailwinds, cybersecurity stocks have been hit hard in the recent sell-off. Only Check Point $CHKP has stayed out of a bear market level down 19% from previous highs.
After this sell-off here is how these stocks currently compare based on revenue multiples and their respective growth rates.
Do you have a favorite cybersecurity stock? Which one? Tell us below!