Top 5 NASDAQ Security Stocks of 2023

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Security is becoming a growing global concern, both online and in the real world.

Diverse companies are stepping up to provide solutions for individuals and businesses, and some of them are seeing impressive share price gains as they meet increasing demand for consumer safety.


Company Profile

Year-to-date gain: 186.81 percent; market cap: US$2.81 billion; current share price: US$27.19

CSPi is focused on security and packet capture products, managed IT and professional services and technology solutions. The award-winning tech firm has two business divisions: High Performance Product and Technology Solutions. The former includes ARIA Cybersecurity Solutions, which provides software for enhanced network security and incident response capabilities, while the latter offers IT solutions and professional services via partnering with best-in-class technology providers.

In November, ARIA Cybersecurity Solutions took a big step forward in helping Australia-based clients to comply with recent Australian legislation, the Critical Infrastructure Risk Management Program, aimed at protecting the nation’s critical infrastructure from cyberattack. The company launched its latest solutions product, AZT PROTECT, via a partnership with South Australian company Logi-Tech. AZT PROTECT is ‘a groundbreaking service for protecting critical applications in operational technology environments such as manufacturing, mining and government,’ according to the release.

Shares of CSPi reached their 2023 peak on December 1, hitting US$27.94.

2. CrowdStrike Holdings (NASDAQ:CRWD)

Company Profile

Year-to-date gain: 119.54 percent; market cap: US$56.68 billion; current share price: US$236.01

CrowdStrike is a leader in cloud- and artificial-intelligence-based cybersecurity software. The company’s products use advanced endpoint detection and response applications and techniques in its machine-learning-powered antivirus protection offerings to ensure breaches are stopped before they occur. Recently, the CrowdStrike’s Counter Adversary Operations ‘uncovered a spate of cyberattacks by Imperial Kitten targeting Israeli organizations, particularly in the transportation, logistics and technology sectors,’ reported Forbes.

In the third quarter of its fiscal year 2024, Crowdstrike’s revenue figures beat analyst expectations, growing by 35 percent year-over-year to reach US$786 million, with adjusted earnings per share of US$0.82. Company shares climbed steadily throughout much of 2023, peaking at US$238.48 on November 30.

3. Palo Alto Networks (NASDAQ:PANW)

Company Profile

Year-to-date gain: 109.3 percent; market cap: US$93.26 billion; current share price: US$295.79

Global cybersecurity leader Palo Alto Networks’ security portfolio includes advanced firewalls and cloud-based offerings that protect more than 85,000 organizations across their clouds, networks and mobile devices.

In November, the company launched Strata Cloud Manager, which it calls “the industry’s first AI-powered Zero Trust management and operations solution,” along with a suite of advanced security capabilities and five new next-generation firewalls.

“Strata Cloud Manager will simplify management and operations across our customers’ entire network security estate,” said Anand Oswal, senior vice president and general manager of Network Security at Palo Alto Networks. “We continue to innovate with AI and ML in our security services, now stopping advanced attacks, including the first and only instance of a unique attack.”

Palo Alto’s share price is another that has more than doubled in 2023 to reach its highest point on December 1, when it stood at US$296.84 per share.

4. Rambus (NASDAQ:RMBS)

Company Profile

Year-to-date gain: 88.81 percent; market cap: US$7.34 billion; current share price: US$68.31

An industry leader in semiconductor chips and silicon intellectual property, Rambus enables critical performance improvements for the data center and other growing markets that require secure data protection through its products and innovations. According to Rambus, its solutions ‘improve data bandwidth, capacity and security from cloud to consumer.’

Rambus’ secure silicon IP helps protect data by securing electronic systems at their hardware foundation, offering security solutions in the areas of root of trust, tamper resistance, content protection and trusted provisioning. Security protocol engines provide inline solutions for securing networks without altering network traffic.

For their part, the company’s differential power analysis countermeasures focus on protecting electronic devices from side-channel attacks. Software protocols offer secure supply chain solutions via secure provisioning and cloud-based device key management services. Rambus’ silicon IP can also prevent counterfeiting with hardware-based solutions that provide content security and product authentication.

The company’s share price rose to its highest point in 2023 on November 29, hitting US$70.72 per share.

5. Zscaler (NASDAQ:ZS)

Company Profile

Year-to-date gain: 72.99 percent; market cap: US$29.44 billion; current share price: US$198.45

Award-winning cloud security company Zscaler is a leader in the field of security service edge, and its Zero Trust Exchange is one of the world’s most-used security service edge platforms. The platform can be used to secure user-to-app, app-to-app and machine-to-machine communications over any network.

In November, the company announced advancements to the Zero Trust Exchange platform aimed at simplifying and improving cloud workload security to deliver consistent cyber defense. “As customers accelerate the adoption of public cloud infrastructure they require a simple and effective cloud security platform to protect their cloud workloads and applications,” Zscaler Senior Vice President and General Manager Dhawal Sharma.

Zscaler shares climbed steadily since its year-to-date low of US$84.93 in May to peak at US$207.78 on November 29.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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