Bullet points of FTNT, CRWD, or PANW: Which Cybersecurity Stock Is the Best Pick?

Bullet points of FTNT, CRWD, or PANW: Which Cybersecurity Stock Is the Best Pick?
- Cyber attacks have increased by 30% year-over-year to 1,636 attacks per organization per week globally in Q2 2024, driven by advanced technologies and AI.
- Fortinet's Q2 revenue increased 11% year-over-year to $1.43 billion, with a 20% rise in Service revenue offsetting a 4.4% decline in Product revenue.
- Fortinet's Q2 adjusted EPS surged 50% to $0.57 due to higher revenue and an 820 basis points expansion in operating margin.
- CrowdStrike reported better-than-expected Q2 results, with revenue growing 32% to $963.9 million and adjusted EPS surging over 40% to $1.04.
- Palo Alto Networks delivered upbeat Q4 results, with revenue growing 12% to $2.2 billion and adjusted EPS increasing about 5% to $1.51.
- Fortinet, CrowdStrike, and Palo Alto Networks have Strong Buy, Moderate Buy, and Strong Buy consensus ratings, respectively, with average price targets indicating potential upside of 7%, 19%, and 7%.
- The companies are investing in emerging technologies like Unified SASE, Security Operations, and Secure Networking to drive growth and market share.
- Analysts remain confident about the demand for cybersecurity products and services, driven by the increasing threat of cyber attacks and the need for robust security measures.