#3 - Palo Alto Networks (NASDAQ:PANW)
Cybersecurity will be one of the most important sectors for investors in coming years. Palo Alto Networks Inc. (NASDAQ: PANW) is another stock that has had bullish momentum in the last two years. PANW stock is up 24% in 2024 and 53% in the last 12 months.
A key catalyst for 2025 and beyond is the growth of artificial intelligence and the push-pull it creates between revenue growth and cybersecurity. The fact is that the growth in artificial intelligence will make demand for cybersecurity greater, not less.
Palo Alto Networks has continued to grow revenue and earnings in 2024 despite a move to platformization in which the company allows customers to use some of their offerings for free. However, the company continues to increase its market share including with its flagship Next-Generation Firewall (NGFW).
The consensus price target of $376.82 on October 28 suggests little upside. However, analysts are raising their price targets ahead of the company’s earnings report in November.
About Palo Alto Networks
Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.
Read More - Current Price
- $385.18
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 30 Buy Ratings, 11 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $378.49 (1.7% Downside)
