The 3 Best Cybersecurity Stocks to Buy in Q2 2024 | Markets

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These companies are leading the way when it comes to cybersecurity around the world.

Cybersecurity is a big and growing sector. McKinsey & Co. has forecasted that the global cybersecurity market could reach $2 trillion as companies and individuals increase spending to protect themselves and their data from a rising number of cyberattacks and online threats.

The same report from McKinsey notes that the cost of cyberattacks worldwide is likely to exceed $10 trillion annually by 2025, a 300% increase from 2015 levels.

In this environment, a number of fast-growing cybersecurity firms are focused on protecting both the world’s largest corporations and governments, as well as individuals who work from home. It’s an increasingly crowded space where companies are jockeying for market share and investor capital.

In recent quarters, some clear winners have emerged in the cybersecurity race, producing strong growth rates and earnings and seeing their stocks rise sharply as a result. Here are the three best cybersecurity stocks to buy in Q2 2024.

CrowdStrike Holdings (CRWD)

Source: T. Schneider / Shutterstock.com

CrowdStrike Holdings (NASDAQ:CRWD) had arguably the best earnings print for the fourth quarter of 2023, sending its stock up 23% in a single trading session. CRWD stock is now up 133% over the last 12 months, including a 29% year-to-date gain. The leading cybersecurity firm reported earnings per share of 95 cents, compared to 82 cents that was the consensus expectation of analysts.

Revenue in Q4 2023 came in at $845 million versus $839 million that was forecasted on Wall Street. The…

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