BUZZ-Fortinet leads cybersecurity stocks; Crowdstrike manages Windows-outage in 2024

Reuters
2024-12-31

** CrowdStrike shares are up ~37% this year, as the cybersecurity company impressed its investors and analysts by handling the July 19 Windows-outage, which disrupted internet services globally

** Customers are benefiting from CRWD's "customer commitment packages" designed to boost customer relationships by offering flexible access to the company's products, analysts have said

** Fortinet shares, which are up ~63% this year, have outperformed the cybersecurity stocks; analysts have said that the company has an opportunity in the mid-market segment

** Palo Alto Networks' shares are seen ending the year with ~25% gains, as it continues to benefit from consolidation efforts, standardizing security operations on a single platform

** Among peers, Zscaler down ~17%, SentinelOne down ~18% and Okta down ~12% this year, as they grapple with stiff competition from bigger rivals

** Datadog shares up 19%, while Dynatrace down 0.6% this year

** Cybersecurity companies have seen strong demand due to growing security incidents, which have hit companies including Microsoft , Walt Disney and AT&T this year

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(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; ))

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