20 Trending AI Stocks on Latest News and Ratings

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

Number of Hedge Fund Holders: 66

Palo Alto Networks, Inc. (NASDAQ:PANW) is an American multinational cybersecurity company. Its security solutions, powered by Precision AI, accelerate the detection and remediation of security threats in an AI-first world.

In the last three months of fiscal 2024, Palo Alto Networks’ cybersecurity business grew 12% year-over-year, reaching $2.19 billion, $40 million above analyst expectations. Earnings per share (EPS) rose 5% to $1.51, beating forecasts by $0.10. The rapid adoption of its advanced security solutions signals strong future growth.

Such are the company’s positive prospects that on Mad Money’s Lightening Round, Jim Cramer has affirmed that Palo Alto Networks, Inc. (NASDAQ:PANW) is a “good one”. Moreover, on October 11, 2024, Morgan Stanley analyst Hamza Fodderwala maintained the stock with an Overweight rating, raising the price target from $390 to $421. The firm had hosted Palo Alto CEO Nikesh Arora for a meeting, after which it concluded that the overall tone was “encouraging”, and also noted a positive outlook on the company’s progress with larger platform deals, accelerating product cycles, and AI-driven efficiencies.

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