26 Mar 2 Artificial Intelligence (AI) Cybersecurity Stocks To Buy: CrowdStrike And Tenable
This week in cybersecurity from the editors at Cybercrime Magazine
–Read the Full Story in The Motley Fool
Sausalito, Calif. – Mar. 26, 2024
The Motley Fool reports that the benchmark S&P 500 index is up 10.5 percent in 2024 so far, and it’s on track to enter April near an all-time high. However, that doesn’t mean there is an absence of opportunities for those looking to buy stocks.
According to a prediction by Cybersecurity Ventures, cybercrime will cost the world $9.5 trillion in 2024. But McKinsey & Company says cybersecurity spending in the corporate sector is grossly inadequate.
This spells opportunity for some of the leading providers of cybersecurity software, including Tenable (NASDAQ: TENB) and CrowdStrike (NASDAQ: CRWD), according to The Motley Fool.
Tenable stock is cheap relative to most of its peers. Based on its 2023 revenue and its market capitalization of $5.8 billion, it trades at a price-to-sales (P/S) ratio that is far below CrowdStrike’s or Palo Alto Networks’.
Crowdstrike recently told investors it plans to nearly triple its annual recurring revenue to $10 billion within the next five to seven years — and in that context, the stock might also look cheap to long-term investors, even though it’s trading near an all-time high right now.
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