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Cybercriminals Attack MGM and Caesars: 6 Cybersecurity Stocks to Load Up on Now

If they ran Las Vegas like they did 30 or 40 years ago, there would be zero attempts to extort money from a casino unless it was with a weapon. In the digital age, that has all changed. MGM Resorts and Caesars Entertainment learned the hard way that cybercriminals can make running a business very difficult. It was reported last week that hackers that go by the names of UNC3944 and Roasted 0ktapus were responsible for the attacks that occurred earlier this month but were not widely reported until last week. While MGM reportedly did not pay any ransom to the group, it was reported they demanded $30 million from Caesars, who allegedly actually paid about half of that amount.

With everything run in a digital world through servers and hosted at massive data centers, all aspects of the casino industry, from reservations to computer systems at casino properties to personal data of loyalty rewards members, could be at risk. Some customers of the casinos jumped on social media and posted about not being able to make credit card transactions, obtain money from cash machines or even enter hotel rooms while at some properties. It was also reported that even some video slot machines went dark.

You can bet that executives at both firms were on the phone at once with the top cybersecurity companies to strengthen their defenses against these criminals that have the potential to bring companies to their knees.

We screened our 24/7 Wall St. cybersecurity research database looking for top companies that may benefit from this recent attack, and we found six that look like very solid ideas. While the following stocks are all rated Buy, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.


This cybersecurity giant’s stock is way below its 52-week high and offers an outstanding entry point. CrowdStrike Holdings Inc. (NASDAQ: CRWD) provides cloud-delivered protection across endpoints and cloud workloads, identity and data. The company offers threat intelligence, managed security services, IT operations management, threat hunting, Zero Trust identity protection and log management.

CrowdStrike primarily sells subscriptions to its Falcon platform and cloud modules through its direct sales team that leverages its network of channel partners.

Still down a stunning 30% from highs printed early last year, shares of this preeminent company offer investors one of the best ways to participate in the huge growth proposition cybersecurity offers.

JMP Securities has a $235 price target on CrowdStrike stock. That is higher than the consensus target of $185.86. Friday’s final trade was reported at $165.45 a share.

CyberArk Software

This company has a $7 billion market cap, which may make it a prime takeover target. CyberArk Software Ltd. (NASDAQ: CYBR) develops, markets and sells software-based security solutions and services in the United States, Europe, the Middle East and elsewhere.

The company’s solutions include the following:

Furthermore, CyberArk’s robust Identity and Access Management as a Services offers adaptive multi-factor authentication (MFA), single sign-on, secure Web sessions, application gateway, identity lifecycle management and directory services, as well as customer identity services providing authentication and authorization services, MFA, directory and user management to enable organizations to provide their customers with easy and secure access to websites and applications.

Additional offerings include Secrets Manager Credential Providers, to provide and manage the credentials used by third-party solutions, and Secrets Manager Conjur for cloud-native applications.

Guggenheim’s target price is $200, and CyberArk Software stock has a consensus target of $188.21. The shares ended Friday’s session trading at $170.01 apiece.


This stock has done well but still offers a reasonably attractive entry point. Fortinet Inc. (NASDAQ: FTNT) provides broad, integrated and automated cybersecurity solutions worldwide.

The company’s products and services include the following:

The company provides security subscription, technical support and professional and training services.

Wells Fargo has set a $85 target price. The consensus is just $74.33, and Fortinet stock closed on Friday at $61.02.


This Wall Street favorite may have the biggest potential upside in the group. Okta Inc. (NASDAQ: OKTA) provides identity solutions for enterprises, small and medium-sized businesses, universities, nonprofits and government agencies in the United States and internationally.

The company offers Okta Identity Cloud, a platform that offers a suite of products and services, such as the following:

Okta also provides Auth0 products, including the following:

The company offers customer support, training, and professional services. It sells its products directly to customers through sales force and channel partners.

Okta stock has a $110 target price at Oppenheimer. That is well above the $95.11 consensus target and Friday’s closing print of $84.31.

Palo Alto Networks

This company continues to be one of the most dominant players in the industry, and it has crushed earnings expectations. Palo Alto Networks Inc. (NASDAQ: PANW) provides cybersecurity solutions worldwide.

The company offers firewall appliances and software. Panorama is a security management solution for the control of firewall appliances and software deployed on a customer’s network, as well as their instances in public or private cloud environments, as a virtual or a physical appliance. Virtual system upgrades are available as extensions to the virtual system capacity that ships with physical appliances.

It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection and firewall, as well as DNS security, Internet of Things security, SaaS security API and SaaS security inline, and threat intelligence and data loss prevention.

In addition, the company offers cloud security, secure access, security operations and threat intelligence and cybersecurity consulting. Its professional services include architecture design and planning, implementation, configuration and firewall migration. Education services include certifications and online and in-classroom training. It also offers support services.
Palo Alto Networks sells its products and services through its channel partners, as well as directly to medium to large enterprises, service providers and government entities operating in various industries, including education, energy, financial services, government entities, health care, internet and media, manufacturing, public sector and telecommunications.

Last week, BTIG Research lifted its $270 price target on Palo Alto Networks stock to $292. The $274.77 consensus is closer to Friday’s $240.20 closing share price.


This remains one of the hottest cybersecurity stocks and is a top pick across Wall Street. Zscaler Inc. (NASDAQ: ZS) operates as a cloud security company worldwide. Its offerings include the following:

The company’s platform modules include Zscaler Central Authority, Zscaler Enforcement Node and Zscaler Log Servers.

Zscaler serves customers in airlines and transportation, conglomerates, consumer goods and retail, financial services, health care, manufacturing, media and communications, public sector and education, technology and telecommunications services industries.

The $210 target price at Needham accompanies a Strong Buy rating. The consensus target is just $183.97. On Friday, Zscaler stock closed at $156.10.

The need for cybersecurity is clearly increasing every year, and without fail, every couple of years we see a massive hack of major companies. These top stocks offer investors solid ways to play the segment in various areas. Most importantly, they all are trading at levels that offer reasonable entry points and have big upside potential.

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