Buying Fortinet
The Fortinet review article just went up recently and as members can see, the stock already trades well below the fair value estimate. Accordingly, it looks like a great option to add to our portfolio right away! It has been added to the Buy List at its close price today.
That makes 2 cybersecurity stocks in the first 4 added to the portfolio. The sector is ripe for investment right now, in my opinion. It is enormous ($200 billion!), mission-critical for enterprises, risky to migrate once established (creating switching costs), and is largely recession-proof. It also supports strong pricing power. All of this has led to some really fantastic businesses in the space. In the Green Screens alone right now, we have the start of a Cyber ETF. Look at all these names!
- Fortinet (FTNT)
- CrowdStrike (CRWD)
- A10 Networks (ATEN)
- Palo Alto Networks (PANW)
- Qualys (QLYS)
- Tenable (TENB)
- Zscaler (ZS)
Out of that group, I felt that Fortinet and CrowdStrike represented the best combination of great business qualities, founder leadership, and reasonable valuation vs. their prospects at this point in time.
I also like Zscaler quite a bit, but the valuation isn't quite there yet with that one. It might find its way into the Watch List in time.
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Watch List
| S | 9.41% |
| CRWD | 73.34% |
| SEMR | -15.86% |
| SNOW | 15.48% |
| TSM | -1.89% |
Buy List
| GOOG | -33.69% |
| NYAX | -61.69% |
| ASR | -31.25% |
| PAYC | -28.54% |
| HRMY | -49.59% |
| YOU | -45.59% |
| MELI | -30.27% |
| ADBE | -30.99% |
Hold List
| MSFT | -21.19% |
| ODD | -23.90% |
| FLYW | 4.57% |
| CELH | -15.59% |
| TOST | 31.86% |
| CPNG | -2.38% |
| HIMS | -6.43% |
| MNDY | 15.47% |
| GLBE | 16.55% |
| ZS | 18.59% |
| V | -11.99% |
| ADSK | 11.66% |
| NOW | 50.93% |
| ABNB | -19.63% |
| FTNT | 4.51% |
| TEAM | 14.85% |