Palo Alto Networks' Cybersecurity Growth Outlook Disappoints -- Here's What You Need to Know
Palo Alto Networks (NASDAQ: PANW) just gave the latest indication that the economy is slowing. Much like its large cybersecurity peer Fortinet (NASDAQ: FTNT), more modest growth is on the way for Palo Alto as customers look to save some cash amid ongoing global concerns, from war to higher interest rates.
Nevertheless, Palo Alto Networks is still in tip-top shape to lead the cybersecurity industry. Is the stock still a great buy right now? Here's what you need to know.
A few weeks ago, Fortinet disappointed investors with another lackluster report that indicated growth is slowing. This is particularly the case for Fortinet and its slant toward hardware-based sales (firewalls, devices that protect a physical location like an office or data center). After several years of booming sales tied to necessary network expansions during the pandemic, that part of Fortinet's business is now in a downturn.
Source Fool.com
Fortinet Inc. Stock
With 34 Buy predictions and 3 Sell predictions Fortinet Inc. is one of the favorites of our community.
With a target price of 70 € there is a positive potential of 28.02% for Fortinet Inc. compared to the current price of 54.68 €.
