NEW YORK (TheStreet) -- Had you invested broadly in the cyber security industry over the past year, chances are you would have done quite well, according to TheStreet's Jim Cramer.
On Monday's CNBC "Mad Dash" segment, Cramer, the portfolio manager of the Action Alerts PLUS portfolio, referred to most stocks in this industry as expensive. Despite still having lofty valuations, the three "cheapest" of the group include FireEye (FEYE), CyberArk Software (CYBR) and Palo Alto Networks (PANW), he said.
While it's hard to buy "cult" stocks like these, the bullish momentum remains intact, Cramer explained. Unless hacking suddenly stops or the cyber security industry is completely consolidated, that momentum is likely to continue for now.
Palo Alto Networks, FireEye and CyberArk have provided investors with vast returns, yet other companies -- such as AAP holding Cisco Systems (CYBR) and Hewlett-Packard (HPQ) -- haven't done nearly as well, despite having cyber security businesses of their own.
This is because they're not "pure plays" like some of the smaller companies, Cramer said. Both Cisco and HP have other business ventures that make up a much larger share of overall revenue.
However, watch out for Cisco. When its new CEO Chuck Robbins takes over the reigns on July 26, the company could put more attention on cyber security, which is part of Robbins' background, Cramer said.