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Cramer: Everyone Is Trying To Get Into This Cybersecurity Contingent; Here's What To Watch

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Cramer: Everyone Is Trying To Get Into This Cybersecurity Contingent; Here's What To Watch

Ever since the news of the recent Federal hack attack became public on Friday, stocks of cybersecurity companies have been on fire.

CNBC’s Jim Cramer was recently seen discussing the sudden interest of investors in cybersecurity companies and the three cybersecurity stocks he is keeping a close eye on:

  • FireEye Inc (NASDAQ: FEYE)
  • Cyberark Software Ltd (NASDAQ: CYBR)
  • Palo Alto Networks Inc (NYSE: PANW)
  • The Contingent

    "FireEye, CyberArk and Palo Alto are the chief ones; everyone is trying to get into this contingent," Cramer said. "Now what’s interesting about FireEye – they teamed up with Visa last week…but they do both threat prevention, but they also do the forensics – Who really hacked the Federal government? We don’t know."

    He continued, "Well, because there is a master key to every single cybersecurity wall that you have, the inner wall and CyberArk is the company that you count on to be able to protect that."

    Related Link: Hacking Attack Highlights U.S. Lack Of Cybersecurity

    Cult Stocks

    Cramer was asked about the surge in stock prices and valuations at which cybersecurity companies are currently trading compared to a year ago. He replied, "These are all very expensive and they have become cult stocks. They have become momentum stocks and I think the answer is, if you ever got to a conclusion of the hacking, or if you had someone else kind of come in and say, ‘You know what? We are going to consolidate these.' It will cost a lot of money to do it, then it would be over."

    Image Credit: Public Domain

     

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