Palo Alto Networks Soars on Cybersecurity Demand and a New Acquisition
Palo Alto Networks (NASDAQ: PANW) continues to impress. With digital security more crucial than ever, shares of the top cybersecurity pure play (as measured by revenue and market cap) are down less than 6% in 2022 with just over a month to go until the new year.
Considering that the S&P 500 index is down nearly 18% over the same time period, Palo Alto Networks has been a great stock to own during the bear market.
The most recent pop higher is a result of the company's fiscal 2023 earnings update, which was accompanied by a raise in full-year financial guidance and the announcement of a new acquisition. Cybersecurity is a secular growth trend, and this is a top way to invest in the space for the long haul.
Source Fool.com
