6 Leading Cybersecurity Software Stocks Set to Explode Higher in 2023

Furthermore, CyberArk’s robust Identity and Access Management as a Services offers adaptive multi-factor authentication (MFA), single sign-on, secure Web sessions, application gateway, identity lifecycle management and directory services, as well as customer identity services providing authentication and authorization services, MFA, directory and user management to enable organizations to provide their customers with easy and secure access to websites and applications.

Additional offerings include Secrets Manager Credential Providers, to provide and manage the credentials used by third-party solutions, and Secrets Manager Conjur for cloud-native applications.

D.A. Davidson’s $185 target price is higher than the consensus target of $176.44. CyberArk Software stock ended Monday’s session trading at $145.50.

Fortinet

This stock has done well but still offers a reasonably attractive entry point. Fortinet Inc. (NASDAQ: FTNT) provides broad, integrated and automated cybersecurity solutions in the Americas, Europe and elsewhere.

The company’s products and services include the following:

• FortiGate hardware and software licenses provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam and wide area network acceleration.
• The FortiSwitch product family offers secure switching solutions for connecting customers to their end devices.
• The FortiAP product family provides secure wireless networking solutions.
• FortiExtender is a hardware appliance.
• The FortiAnalyzer product family offers centralized network logging, analyzing and reporting solutions.
• The FortiManager product family provides centralized network logging, analyzing and reporting solutions.
• The FortiWeb product family provides web application firewall solutions.
• The FortiMail product family includes secure email gateway solutions.
• FortiSandbox technology delivers proactive detection and mitigation services.
• FortiClient provides endpoint protection with pattern-based anti-malware, behavior-based exploit protection, web-filtering and an application firewall.
• FortiAuthenticator is a zero trust access solution.
• FortiGate VM is a network firewall virtual appliance.
• The FortiToken product family is for multi-factor authentication to safeguard systems, assets and data.
• FortiEDR/XDR is an endpoint protection solution that provides both machine-learning anti-malware protection and remediation.

The company provides security subscription, technical support, professional and training services.

Loop Capital has set its target price at $80, though Fortinet stock has a consensus target of just $69.34. Monday’s closing share price was $59.62.