It’s arguably the best time to invest in the top growth cybersecurity stocks to buy.

The growing sophistication of cyberattacks is alarming, and every sector seems to be feeling its effects. From businesses large and small to hospitals, schools, and even the government, it’s become almost impossible to protect our data from hackers looking to capitalize on the vulnerability of cyberspace.

According to a Cybersecurity Ventures report, the annualized cybercrime cost is expected to top an eye-watering $8 trillion. That’s a hefty $1.1 billion increase from 2022 and over $6 billion from 2020. New data on cyberattacks cites a 38% increase in worldwide attacks last year compared to 2021.

None of this is new, though. Additionally, as discussed by fellow InvestorPlace contributor Ian Cooper, the Bipartisan Policy Center lists cybersecurity as one of the top risks facing the country.

FTNT Fortinet  $59.64
CRWD CrowdStrike $123.64
PANW Palo Alto Networks $189.85

Fortinet (FTNT)

The Fortinet logo on a wall

Source: Sundry Photography / Shutterstock.com

Fortinet (NASDAQ:FTNT) is one of the top cybersecurity stocks, exhibiting spectacular fundamentals growth.

Thanks to a diversified business model and experienced management, it boasts one of the most enviable margin profiles in the space. Fortinet’s margins have grown significantly quicker than its five-year averages despite a challenging macroeconomic environment last year.

Leveraging its cutting-edge technology and rigorous security protocols, its comprehensive portfolio covers all areas of data protection, embracing everything from firewalls to endpoint security. Consequently, it’s won several awards for the quality of its service, which you can go through on the company website.

Year-over-year revenue and EBITDA growth for the firm are above 32% and 46%, respectively, far ahead of its lofty historical rates.

Its majestic top and bottom-line performance come when companies want to cut costs aggressively. As we advance, the company will continue its impressive sales growth streak and is confidently projecting a 22% through 2025.

CrowdStrike (CRWD)

A sign with the Crowdstrike (CRWD) company logo

Source: VDB Photos / Shutterstock.com

CrowdStrike (NASDAQ:CRWD) has established its presence as a top endpoint security systems provider.

Endpoint security refers to the process of protecting endpoints such as smartphones, personal computers, laptops and other devices from cyber threats.

The company’s Falcon endpoint security system remains among the highest-rated systems in a sea of choices. As per its third quarter, its subscription customers rose to 21,146, adding 1,460 new ones in the quarter.

Its annual recurring sales rose an incredible 54% from the same period last year. To put things in perspective, at the end of the fiscal year 2020, the firm had just 5,200 subscription customers.

The firm grew its top line by over 90% over a 5-year period, with forward revenue estimates at over 50%.

CRWD stock is up 11.4% year-to-date, at a time when the stock market remained in shambles. Hence, it remains one of the safest growth stock bets in the sector.

Palo Alto Networks (PANW)

Palo Alto Networks (PANW) logo on corporate building

Source: Sundry Photography / Shutterstock.com

Palo Alto Networks (NASDAQ:PANW) is the bellwether in cybersecurity, with an 8.4% share in the hotly competitive market.

Its water-tight performances are second to none, surpassing analyst estimates in 19 out of the last 20 quarters on both lines.

Despite a tough economic backdrop, the firm has outperformed and ensured that it hasn’t seen major deals slip out of the quarter.

Its recently released second-quarter earnings results showed an 84% and 144% increase in deals valued at over $5 million and $10 million, respectively. The stellar growth in its large deals during the quarter is a testament to the mission-critical nature of its product offerings.

Additionally, it wrapped up the quarter with $6.1 billion in cash, allowing it to purchase a whopping $250 million of its stock. Its consistent track record of share buybacks shows its robust commitment to its shareholders.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.