Priya Patel
TLDR:
Three cybersecurity stocks to watch: CrowdStrike, Okta, and Zscaler, are experiencing recent pullbacks. CrowdStrike announced an expansion of its startup accelerator program in collaboration with Nvidia and Amazon. Okta and Zscaler stocks are reacting positively to the news as well.
Article Summary:
In the cybersecurity industry, three key stocks to keep an eye on are CrowdStrike, Okta, and Zscaler. Recently, CrowdStrike announced the expansion of its startup accelerator program in partnership with Nvidia and Amazon’s Web Services. This collaboration is expected to provide funding opportunities, mentorships, and partnerships to U.S. cybersecurity companies, ultimately enhancing their global reach.
CrowdStrike’s stock (CRWD) saw a 3.7% increase to trade at $268.70 following the news. The stock also broke above its 40-day moving average and has shown a 62.2% lead year over year. Okta (OKTA) and Zscaler (ZS) stocks also reacted positively to the headlines. Okta was up 0.8% to trade at $74.65, while Zscaler saw a 1.2% increase to trade at $172.04.
Okta has struggled to rally since a late-August post-earnings bear gap, with resistance at the $75 level, resulting in a 17.5% decline year-to-date. Zscaler experienced a pullback to its lowest level since November but found support at the $155 region, where losses were contained in May and August. Year-to-date, Zscaler is up 22.2%.
