Major indexes were volatile this week due to earnings from artificial intelligence companies, key economic releases, and the scandal involving Nvidia former CEO Jensen Huang. While short-term fluctuations could weigh on investor sentiment, it is prudent to maintain a long-term investment horizon.
Investors looking for attractive long-term picks can track the ratings of top Wall Street analysts and gain key insights from their in-depth research on the macro and micro factors impacting stocks.
Here are three stocks favored by some of Wall Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance.
Cybersecurity company Palo Alto Networks will announce its fiscal first-quarter earnings on Nov. 18. Migration to the cloud and the rapid adoption of AI have increased demand for cybersecurity solutions provided by Palo Alto and its peers. TipRanks' KPIs tool for PANW shows the rise in the company's subscription revenue over the years, driven by the adoption of its AI and security offerings and contributions from recent acquisitions.
Ahead of the upcoming earnings, Oppenheimer analyst Ittai Kidron reiterated a buy rating on Palo Alto stock with a price target of $450. The five-star analyst said that his checks indicate upside potential from CyberArk and Chronosphere acquisitions and strength in the company's core businesses.