5 Best Performing Cybersecurity Stocks in 2022

1. ForgeRock, Inc. (NYSE:FORG)

Performance in 2022: +45%

ForgeRock, Inc. (NYSE:FORG) is operating in one of the biggest subsectors of the cybersecurity domain: identity and access management. ForgeRock, Inc. (NYSE:FORG)’s platform is used by hundreds of organizations for access management, identity management and related solutions. In October last year, private equity firm Thoma Bravo announced to acquire ForgeRock, Inc. (NYSE:FORG) for about $2.3 billion.

As of the end of September 2022, 9 hedge funds had stakes in ForgeRock, Inc. (NYSE:FORG), compared to 8 funds in the second quarter.

Here is what Baron Discovery Fund has to say about ForgeRock, Inc. (NYSE:FORG) in its Q4 2021 investor letter:

“In the fourth quarter, the Fund was down 3.13% versus the Russell 2000 Growth Index, which was roughly unchanged. For the full-year 2021, the Fund was up 4.89% and beat the 2.83% return of the Russell 2000 Growth Index by 2.06%. The lion’s share of the underperformance in the fourth quarter was due to stock selection in the Information Technology (IT) and Health Care sectors. In IT, there was a fairly even spread of winners and losers for the quarter, though IPO profit taking affected ForgeRock, Inc. (NYSE:FORG) after big third quarter gains.”

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