15 AI News Shaping Wall Street Today

10. Palo Alto Networks, Inc. (NASDAQ:PANW)

Number of Hedge Fund Holders: 64

Palo Alto Networks, Inc. (NASDAQ:PANW) offers cybersecurity solutions for all apps, users, and devices. Precision AI, Palo Alto Networks’ proprietary AI system, plays a key role in detecting and mitigating cybersecurity threats.

On Tuesday, November 19, Wedbush analyst Daniel Ives maintained a Buy rating on Palo Alto Networks, Inc. (NASDAQ:PANW) with a price target of $400.00. The company will report its fiscal first-quarter results on November 20 after markets close, and while Wedbush Securities isn’t expecting any “major fireworks”, it does anticipate the company to plant “seeds of growth” for 2025. With Palo Alto accelerating its platformization strategy, Ives expects next-generation security annual recurring revenue to increase with the company landing higher ARR deals, hitting $15B in next-generation security ARR by 2030. Moreover, artificial intelligence is also expected to play a key role, given its recent AI suite of products, including Access, security posture management, and runtime. As per Ives, they “continue to generate greater scale foundation for platformization in place to accelerate throughout 2025”.

“We have seen stronger deal flow and believe PANW is getting their sea legs on the platform strategy now front and center for cybersecurity customer deployments. While not expecting major fireworks on Wednesday after the bell with FY1Q25 earnings, we view the seeds of growth are now in place for a very important FY25”.

-Analyst Dan Ives wrote in a note to clients.