The cybersecurity industry is experiencing unprecedented growth, fueled by increasing cyber threats, the expansion of cloud computing, and the adoption of artificial intelligence (AI) in security measures.
According to Cybersecurity Ventures, global cybercrime damages are projected to reach $10.5 trillion annually in 2025, up from $3 trillion in 2015, making cybersecurity one of the most critical industries in the digital age. As cyberattacks, including ransomware, grow in frequency and sophistication, businesses, governments, and individuals are investing heavily in security solutions to mitigate risks.
Insider Monkey compiled a list of high growth cybersecurity stocks to buy. They first utilized a stock screener to identify companies with a market capitalization exceeding $2 billion and a minimum 20 percent revenue growth over the past five years. From this selection, they then narrowed down the top 10 stocks based on the level of hedge fund interest. These stocks have been ranked in according to hedge fund sentiment as of Q4 2024.
The top 10 high growth cybersecurity stocks to buy, according to Insider Monkey, are
1. Datadog Inc. (NASDAQ:DDOG)
2. CrowdStrike Holdings Inc. (NASDAQ:CRWD)
3. Okta Inc. (NASDAQ:OKTA)
4. Elastic N.V. (NYSE:ESTC)
5. Palantir Technologies Inc. (NASDAQ:PLTR)
6. Cloudflare Inc. (NYSE:NET)
7. Zscaler Inc. (NASDAQ:ZS)
8. Super Micro Computer Inc. (NASDAQ:SMCI)
9. Rapid7 Inc. (NASDAQ:RPD)
10. Tenable Holdings Inc. (NASDAQ:TENB)
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