Cybersecurity has become an increasingly important issue that companies have to address as they continue to develop new platforms and mobile apps. Hackers have been able to steal credit card and personal information from major retailers like Home Depot and Target. As a result, cybersecurity has become more necessary, and instead of developing a dedicated department within a company, most opt to hire a third-party cybersecurity firm.
The July 29 short interest data have been compared with the previous figures, and short interest moves for the selected cybersecurity stocks were mixed. What is interesting here is that many investors think cybersecurity is the next area that needs real consolidation in technology. That would mean mergers.
FireEye Inc. (NASDAQ: FEYE) saw its short interest decrease to 20.38 million shares from the previous reading of 21.65 million. Shares closed Tuesday at $14.34, in a 52-week trading range of $11.35 to $44.67.
CyberArk Software Ltd. (NASDAQ: CYBR) saw its short interest rise to 2.22 million shares from the previous level of 2.17 million. Shares closed Tuesday at $55.31, within a 52-week range of $31.50 to $62.50.
Check Point Software Technologies Ltd. (NASDAQ: CHKP) short interest decreased to 10.56 million shares from the previous reading of 10.72 million. Shares closed most recently at $74.91, in a 52-week range of $65.09 to $89.98.
Palo Alto Networks Inc. (NYSE: PANW) saw the number of its shares short increase to 6.31 million from the previous level of 6.11 million. Shares closed Tuesday at $130.84, within a 52-week range of $111.09 to $194.73.
Fortinet Inc. (NASDAQ: FTNT) short interest decreased to 4.23 million shares from its previous reading of 4.81 million. Shares closed Tuesday at $33.19, in a 52-week trading range of $23.16 to $48.10.