5 Reasons to Buy Palo Alto Networks Stock Like There's No Tomorrow
Palo Alto Networks (NASDAQ: PANW) is one of the more popular cybersecurity stocks out there at the moment. The stock is trading up nearly 70% over the past year, so investors might be wondering if all its future growth is already priced in and it's too late to get on board.
To ease those concerns, know that there are still plenty of reasons to love this stock. These five, in particular, provide ample proof that you might want to buy this stock like there's no tomorrow.
Cybersecurity threats are a widespread issue that is becoming more prevalent. A 2022 report from , claimed that supply chain attacks are expected to affect nearly 50% of organizations globally in some form by 2025. Very few industries are immune to this problem. The number of data breaches is increasing around 20% annually, while Internet of Things malware attack volume is rising over 35% per year. The cost of cybercrime is expected to surpass $20 trillion by 2027, nearly quadrupling over five years.
Source Fool.com
Gartner Inc. Stock
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As a result the target price of 460 € shows a slightly positive potential of 9.73% compared to the current price of 419.2 € for Gartner Inc..
