CRWD, PANW, ZS, OKTA In Focus — Cybersecurity Stocks Get Boost As IBM CEO Flags Rising Concerns

40 out of 52 analysts rate CRWD stock as ‘buy,’ 11 say ‘hold’ and one ‘sell’ with an average 12-month price target of $184.32, about 12% lower from current levels.

A sudden profit warning from International Business Machines Corp. (IBM) and subsequent commentary from CEO Arvind Krishna highlighting rising cybersecurity priorities among customers triggered a massive rally in major cybersecurity firms.

Customers Focusing On Cybersecurity IBM Chief Executive Officer Arvind Krishna attributed the financial miss primarily to the company’s infrastructure division, where sales fell 7%.

Retail View On Cybersecurity Stocks Retail sentiment on CRWD, Palo Alto Networks (PANW), Zscaler (ZS), and Okta (OKTA) stock were between ‘extremely bullish’ and ‘bullish’ with ‘normal’ to ‘high’ retail chatter.

CRWD stock has gained 76% year-to-date.