Cybersecurity stocks are one of the fastest-growing industries in the stock market today. Due to the epidemic, many companies are moving towards hybrid workers. Now a lot of people are working from home but companies are well aware of the risks of such settings. From company assets to personal data, the number of viable targets for cyber attacks is increasing significantly. Thus, the importance of cyber security has been repeatedly underlined.
On top of that, we see online transactions happening more than ever and there will be increasing cryptocurrencies. Matthew Prince, chief executive of Cloudflare (NYSE: NET), believes that the growing popularity of cryptocurrencies has made them a popular target for cybercriminals. After all, it makes sense for cybercriminals to pursue money. Therefore, it would be an understatement to say that cybersecurity is currently a priority for many companies. With that in mind, will your list of the top four cybersecurity stocks on the stock market today strengthen your interest?
ZScaler is a company focused on providing cloud security platforms designed on a zero-trust architecture. Its architecture allows users and devices to securely access official applications and services in the cloud. ZScaler’s security and user experience solutions are intended on a multi-tenant, distributed cloud exchange that secures access to applications and services for users and devices, regardless of location.
Last Friday, the leading cloud security company released its financial fourth quarter earnings report. The company posted another impressive result with record big deals in various sectors. Zscaler posted revenue of 197.1 million, a 57% year-over-year increase. In addition, its calculated billing growth was $ 332.2 million, up 70% from the same quarter last year. With this, the company ended the financial year with strong financial momentum.
It is worth noting that the company was selected by Schmitz Cargobull AG to protect its users, applications and work stress for 5,800 employees worldwide. Zscaler will serve as the foundation of Schmitz’s overall digitization and transformation initiative to modernize the company’s IT security infrastructure. Also, Schmitz will achieve a multi-level security approach and encrypted traffic inspections to protect against rapidly growing threats. With these exciting developments, would you consider adding ZS stock to your portfolio?
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