Cybersecurity stocks are a bright spot as Russia-Ukraine conflict prompts cyberattack fears

Cybersecurity stocks were a bright spot Thursday as the major indices fell.

Cyber attacks against critical infrastructure companies have been raised by the conflict. There have been two cyber attacks on the government websites in Ukraine. The second attack was consistent with what the US would expect from Russia, according to the U.S.

Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021.

Telos, Palo Alto Networks, CrowdStrike, and Mandiant all saw their shares increase in value. Palo Alto Networks reported earnings on Wednesday.

The S&P 500 was down on Thursday. The index was slightly positive.

In a note on Tuesday, Dan Ives wrote that concerns of cyber attacks could add 200 to 300 base points of growth to the sector, which he said was already poised to increase 20% year-over-year in 2022.

With a significantly elevated level of cyber attacks now appearing on the horizon, we believe added growth tailwinds for the cyber security sector and well positioned vendors should be a focus sector for tech investors during this market turmoil.

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The US is experiencing a boom in the number of cyberattacks.