5 Best Performing Cybersecurity Stocks in 2023

4. Palo Alto Networks, Inc. (NASDAQ:PANW)

Year To Date Share Price Gains: 83.11%

Palo Alto Networks, Inc. (NASDAQ:PANW) is a mid sized cybersecurity company that offers firewalls and other products. The firm has grown its EPS in all four of its latest quarters, and to boot, it has also beaten analyst estimates in all of them. Therefore, it’s unsurprising that 39 analysts have rated its shares as Strong Buy on average and set an average share price target of $279.77.

During June 2023, 83 out of the 910 hedge funds part of Insider Monkey’s database had invested in the company. Palo Alto Networks, Inc. (NASDAQ:PANW)’s largest hedge fund investor is David Blood and Al Gore’s Generation Investment Management through its $654 million investment.

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