Keep an eye on oversold cybersecurity stocks, like Palo Alto Networks (PANW). Just weeks ago, the company cut its full-year revenue guidance to a new range of $7.95 billion to $8 billion from $8.15 billion to $8.2 billion. However, it appears most of that bad news has been firmly priced into the oversold stock. Plus, analysts at Argus just reiterated a buy on PANW with a price target of $336. All as the cybersecurity environment gets a bit more toxic, especially with generative artificial intelligence.
Palo Alto Networks (PANW)
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