5 Cybersecurity Stocks You Can Buy and Hold for the Next Decade

While most tech investors are focused on artificial intelligence (AI), cybersecurity remains an important and growing market. These companies are using AI to help boost protection, while also trying to prevent the added risk that comes with AI.

Let's look at five cybersecurity stocks investors can buy for the long haul.

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1. Palo Alto Networks

Palo Alto Networks (NASDAQ: PANW) is in the midst of a major transformation. Last year, it introduced what it called a "platformization" strategy, where instead of selling endpoint solution products, it decided to try and consolidate its customers onto one of its three platforms. To accelerate adoption, it gave away some services for free to lure customers off point solutions from different vendors and onto a unified platform. That bet is starting to pay off. So far, 1,250 of its top 5,000 customers have migrated to one of its platforms, with a target of 2,500 to 3,500 by 2030.

The company's main platform is network security, but it's also been seeing strong momentum in its Cortex platform for threat detection and response, and its cloud security solution, Prisma Cloud. While this transition temporarily slowed top-line growth, it's a necessary shift that better positions the company for the long run.

2. CrowdStrike

CrowdStrike (NASDAQ: CRWD) continues to be the leader in endpoint security, but it, too, has expanded its platform into other areas. Its Falcon platform now includes solutions for threat intelligence, cloud security, identity protection, and more.

Falcon Flex, its new flexible licensing model, is helping drive adoption of its various cybersecurity modules. With Falcon Flex, customers can deploy what cybersecurity solutions they need, when they need them. This is paying off, with the average Flex customer deal size now exceeding $1 million in annual recurring revenue.

Following last year's headline-grabbing IT outage, CrowdStrike has done a great job regaining the trust of its customers by offering incentive packages to those who were affected. With these set to roll off, it should help reaccelerate growth. Meanwhile, CrowdStrike's full-platform approach and strong market position give it a long runway for growth.

3. Zscaler

Zscaler (NASDAQ: ZS) is leading the charge in zero-trust security, which is becoming a critical part of cybersecurity. Its Zscaler Private Access solution is helping organizations move away from outdated VPNs, including in the federal government. Meanwhile, its Zscaler Digital Experience, Zero Trust for Branch and Cloud, and AI-powered analytics are gaining traction. Last quarter, its revenue grew 23% year over year, driven by strong customer upsells and a net dollar retention rate of 114%.

Zscaler is also moving into data security. Its new data protection tools, which are designed to prevent private data leakage in public AI applications, are helping the company win large deals. As AI usage begins to accelerate, Zscaler's new solution is well-timed. It is also entering the world of agentic AI, with solutions targeting both IT Operations and Security Operations. As cybersecurity threats continue to evolve, Zscaler looks well-positioned for the future.

4. SentinelOne

SentinelOne (NYSE: S) is one of the cheapest stocks in the cybersecurity space. Despite producing 23% revenue growth last quarter, its forward price-to-sales (P/S) multiple is just 6. That valuation disconnect won't last forever if the company can continue to execute.

Its biggest near-term catalyst is a deal with Lenovo, which will start shipping its PCs with SentinelOne's Singularity Platform pre-installed later this year. Lenovo is the largest enterprise PC vendor in the world, so this has the potential to be a meaningful growth driver.

The company is also leaning into AI with its Purple product, which allows security analysts to use natural language prompts to help detect complex threats and automate workflows. Purple is designed to run across third-party platforms like Zscaler and Palo Alto, which is a big advantage for customers in multi-vendor environments.

SentinelOne still has work to do to prove itself as a platform leader, but the combination of fast growth, strong technology, and an attractive valuation makes it an intriguing name for long-term investors.

5. Okta

Okta (NASDAQ: OKTA) may not be growing as fast as some of its peers, but it's carving out a nice niche in identity security. In Q1, its revenue rose a solid 12% year over year to $688 million.

On the positive front, Okta is seeing strong early traction for its newer products, such as Identity Governance, Privileged Access, and Identity Threat Protection powered by Okta AI. The company is also combining its Identity Security Posture Management tools with Privileged Access to help address the rising security risks related to AI agents and other non-human identities.

The company has also tweaked its go-to-market strategy by adopting a "hunter-farmer" sales model, where some sales reps focus on acquiring new customers and others on expanding existing accounts. With identity security becoming more important with the advent of AI agents, Okta looks poised to succeed.

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Geoffrey Seiler has positions in SentinelOne. The Motley Fool has positions in and recommends CrowdStrike, Okta, and Zscaler. The Motley Fool recommends Palo Alto Networks. The Motley Fool has a disclosure policy.