Why Cybersecurity Stocks Like CrowdStrike Triumphed Today
Not for the first time in recent days, the cybersecurity sector had quite a good ride on Thursday. Shares of many top titles in the industry traded higher than the S&P 500 index, with CrowdStrike (NASDAQ: CRWD) rising 1%, Palo Alto Networks (NASDAQ: PANW) advancing by 1.6%, and Fortinet (NASDAQ: FTNT) well out in front with a 3.3% gain. All were bolstered by a glowing research note from an analyst.
The note was authored by Jefferies' (NYSE: JEF) Joseph Gallo. In a broad take on the cybersecurity sector in general, Gallo expressed quite the bullish outlook on its prospects.
"We note that investor sentiment for cyber has become increasingly positive, with the majority of cyber names climbing the wall of worry and trading up on better than expected [calendar] 4Q results," Gallo wrote.
Source Fool.com
