5 Cheap AI Stocks to Buy in 2024

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

Average Analyst Price Target Upside: 20.09%

Average Analyst Price Target: $338.77

Number of Hedge Fund Holders: 77

Palo Alto Networks, Inc. (NASDAQ:PANW) is a California-based company that provides products and solutions for cybersecurity, and several of them are AI-integrated, like its Cortex suite.

On February 21, Jefferies lowered the price target on Palo Alto Networks, Inc. (NASDAQ:PANW)’s stock to $365 from $450 and kept a Buy rating on the shares.

Palo Alto Networks, Inc. (NASDAQ:PANW) was covered by 4 Wall Street analysts over the past three months and maintained a Buy rating on the stock. The average price target of $338.77 represented an upside of 20.09% as of the February 23 market close.

According to Insider Monkey’s database, 77 hedge funds held a stake in Palo Alto Networks, Inc. (NASDAQ:PANW)’s stock in the fourth quarter. With 464,942 company shares worth $137.102 million, Alex Sacerdote’s Whale Rock Capital Management was the most significant investor in the company.

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