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Cloud Security Boom Creates New Crop of Tech Darlings

August 28, 2019 / Jeran Wittenstein
SHARESHARESHARE

A new generation of cybersecurity companies is creating billions of dollars in market value for investors as businesses increasingly turn to cloud-based products for better protection from sophisticated attacks.Okta Inc. Zscaler Inc. and Crowdstrike Holdings Inc. have experienced rapid growth, and analysts say that should continue as customers allocate more resources to security systems that operate in the cloud. Shares of Okta and Zscaler have rallied more than 80% this year, while Crowdstrike has more than doubled since its June initial public offering, making it one of the best performing tech debuts in 2019.