Palo Alto (PANW) Buys Chronosphere, Citizens Stays Bullish

Palo Alto Networks, Inc. (NASDAQ:PANW) is one of the 10 Best AI Software Stocks to Buy Right Now. On January 29, Palo Alto Networks, Inc. (NASDAQ:PANW) reported that it has acquired Chronosphere to address a major challenge in the AI era, which is the lack of clear visibility and security over the huge volumes of data used by modern businesses.

Chronosphere helps customers see activity across their entire digital estate. With this deal, Palo Alto Networks, Inc. (NASDAQ:PANW) will be able to help organizations operate at the speed of AI by offering deep, real-time visibility into applications, infrastructure, and AI systems. The company highlighted that this approach will allow customers to keep control over data costs and value.

Palo Alto Networks, Inc. (NASDAQ:PANW) plans to integrate its Cortex AgentiX platform with Chronosphere’s cloud-native observability platform to enable AI agents to automatically identify and resolve security and IT issues before they can impact the customer.

Previously, on January 20, Citizens reiterated its Market Outperform rating on Palo Alto Networks, Inc. (NASDAQ:PANW) with a $250 price target. The firm pointed out that executives from private cybersecurity companies believe that it is difficult to challenge large platforms like Palo Alto Networks, Inc. (NASDAQ:PANW). One executive described the company as being in a strong position, saying it is “their market to lose” if they can “massively mess it up.”

Citizens also pointed to comments from a co-founder of an identity and network security company, who said that “nothing has changed in the competitive landscape in deals.” The co-founder also said that Palo Alto Networks, Inc.’s (NASDAQ:PANW) expanded platform capabilities are “helpful” as customers “still want to consolidate single vendors in cybersecurity.”

Palo Alto Networks, Inc. (NASDAQ:PANW) is a leading American multinational cybersecurity software and platforms company that provides comprehensive AI-powered security solutions across network, cloud, security operations, and AI.

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Disclosure: None. This article is originally published at Insider Monkey.