Top 12 AI Stocks Dominating the Market Right Now

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

Number of Hedge Fund Holders: 64

Palo Alto Networks, Inc. (NASDAQ:PANW) is a leader in AI-powered cybersecurity. On February 11, KeyBanc analyst Eric Heath raised the firm’s price target on the stock to $240 from $217 and kept an “Overweight” rating on the shares. The optimism stems from the firm’s checks with company partners which have been positive and better than the previous quarters. The firm stated that all partners it spoke to were in line or above plan. It further states that it anticipates Q2 billings to be higher than expected, and is also encouraged by the improving firewall cycle after positive checks from Checkpoint and Fortinet. Palo Alto benefits from both Department of Defense contracts where it offers its AI-powered cybersecurity solutions, and positive developments in the Thunderdome project, a cybersecurity project within the Department of Defense (DoD) that incorporates security solutions Prisma Access and CloudGenix SD-WAN alongside its AI-powered security capabilities.

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