--- title: "Goldman Sachs Analyst Says Cybersecurity Stocks Are Outpacing Broader Software Sector— 'Set A Good Bar'" type: "News" locale: "en" url: "https://longbridge.com/en/news/284087879.md" description: "Goldman Sachs reports that U.S. cybersecurity stocks are trading at a 24% premium over the broader software sector, driven by strong AI readiness and strategic M&A. Analyst Gabriela Borges emphasizes the importance of innovation and durable industry moats in cybersecurity, suggesting that software leaders should learn from this sector. She also highlights the scrutiny of technical debt and the impact of large language models on customer relationships. Cybersecurity ETFs have shown varied performance, with some gaining in the past month." datetime: "2026-04-25T08:32:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284087879.md) - [en](https://longbridge.com/en/news/284087879.md) - [zh-HK](https://longbridge.com/zh-HK/news/284087879.md) --- # Goldman Sachs Analyst Says Cybersecurity Stocks Are Outpacing Broader Software Sector— 'Set A Good Bar' U.S. cybersecurity stocks are trading at a 24% premium to the broader software sector, measured by enterprise value to forward sales as of Apr. 15, according to a **Goldman Sachs** (NYSE:GS) **Research** report published this week. > Cybersecurity firms are outperforming the broader US software sector, according to Goldman Sachs Research—with their stocks trading at more than a 20% premium when measured by enterprise value to forward sales. Read more: https://t.co/Sc3uvwMScN > > — Goldman Sachs (@GoldmanSachs) April 24, 2026 **Gabriela Borges**, a software sector analyst with Goldman Sachs Research, says software industry leaders should look to cybersecurity for inspiration on meeting AI challenges. “Over the last 10 years, cybersecurity firms have been dealing with existential threats,” Borges said. “Now they show what good innovation and durable moats look like over time. They set a good bar for the larger software industry.” ## M&A Discipline And Technical Debt Goldman Sachs points to strategic mergers and acquisitions as an important competitive advantage. Borges referenced a company that devoted 18 months to integrating a business it acquired for $10 million, noting that the acquired product has since gone on to produce more than $500 million in revenue. The analyst also warned investors are increasingly scrutinizing “technical debt” as technology “bolted onto a platform” where code bases differ from core product code, and says, “You can’t build AI tooling on a platform if it lacks structural integrity and is poorly integrated with legacy systems.” On SaaS model fears, Borges says concerns are overstated, but competitive pressure is real. She distinguishes “good sticky” customer relationships from “bad sticky” ones, which large language models (LLMs) are rapidly eroding. Separately, **OpenAI**‘s Chief Operating Officer **Brad Lightcap** said legacy software companies could emerge as major AI beneficiaries rather than casualties, describing it as a “contrarian opinion.” ## Cybersecurity ETFs Performance ETF Ticker Past 6 Months Past Month First Trust NASDAQ Cybersecurity ETF NASDAQ: CIBR \-13.54% +6.11% Amplify Cybersecurity ETF NYSEARCA: HACK \-11.24% +3.50% iShares Cybersecurity and Tech ETF NYSEARCA: IHAK \-11.20% +4.95% _Photo Courtesy:_ _Shutterstock_ **Disclaimer:** This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. **Read Also: China's DeepSeek Unveils V4 Built On Huawei Chips, Challenging Nvidia Dominance Amid US Tech Curbs** ### Related Stocks - [CIBR.US](https://longbridge.com/en/quote/CIBR.US.md) - [HACK.US](https://longbridge.com/en/quote/HACK.US.md) - [SPAM.US](https://longbridge.com/en/quote/SPAM.US.md) - [IHAK.US](https://longbridge.com/en/quote/IHAK.US.md) - [BUG.US](https://longbridge.com/en/quote/BUG.US.md) - [WCBR.US](https://longbridge.com/en/quote/WCBR.US.md) - [GS.US](https://longbridge.com/en/quote/GS.US.md) - [OpenAI.NA](https://longbridge.com/en/quote/OpenAI.NA.md) - [DPSK.NA](https://longbridge.com/en/quote/DPSK.NA.md) - [HUAWEI.NA](https://longbridge.com/en/quote/HUAWEI.NA.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [SSTK.US](https://longbridge.com/en/quote/SSTK.US.md) - [W4VR.SG](https://longbridge.com/en/quote/W4VR.SG.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) ## Related News & Research - [If You Invested $100 In First Trust NASDAQ Cybersecurity ETF Stock 10 Years Ago, You Would Have This Much Today](https://longbridge.com/en/news/287676973.md) - [When Investors Finally Get Sick of AI Stocks, This Medical Devices ETF Could Be a Long-Term Winner](https://longbridge.com/en/news/289194894.md) - [VOO vs. RSP: Which S&P 500 ETF Is Better?](https://longbridge.com/en/news/289081228.md) - [Bringing SOXSy Back: Goldman Drops 5 More WTF ETF Charts](https://longbridge.com/en/news/289245510.md) - [Forget Palantir Stock at $140 per Share. Buy This Artificial Intelligence (AI) Chip ETF Instead.](https://longbridge.com/en/news/288945956.md)