#4 - Palo Alto Networks (NASDAQ:PANW)
Palo Alto Networks Inc. (NASDAQ: PANW) has been in the news recently. The reasons have been very different. However, both show why cybersecurity stocks will continue to be in high demand. First, Palo Alto Networks is working with UnitedHealth Group Inc. (NYSE: UNH) after the recent cyber attack on the health insurer's Change Healthcare subsidiary.
The other newsworthy item is the attention that PANW stock is receiving from Congressional insiders. That alone should tell you how vital cybersecurity will be in the coming years. In fact, as the role of AI increases, the need for cybersecurity will continue to grow.
PANW stock recently dropped sharply after announcing that it will provide some of its services for free in order to gain market share. However, as analysts have had time to digest the move, they realize that it is likely to lead to sticky revenue down the road.
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
- $402.36
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 30 Buy Ratings, 11 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $378.87 (5.8% Downside)
