Wedbush elevates CrowdStrike (CRWD) and Palo Alto Networks as leading cybersecurity investment optio

Core Points

CrowdStrike gets premium tech stock rating

Ratings downgrade affects Check Point, Fortinet, Varonis and Telos

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Wedbush launched comprehensive coverage of the cybersecurity sector, awarding CrowdStrike, Palo Alto Networks, Rubrik and Datadog "Outperform" ratings. Among them, CrowdStrike was named the top technology target for the next 12-18 months, with a target price of US$250, thanks to its AI-based platform capabilities. Palo Alto Networks was included in Wedbush's "Best Ideas" list with a target price of $400 and an annual revenue growth rate of 34%. Four other companies suffered downgrades: Check Point, Fortinet, Varonis and Telos. Although Fortinet and Varonis were downgraded, their price targets were instead raised. Wedbush emphasized that cybersecurity spending is shifting from overall budget expansion to platform integration. On September 11, Wedbush Securities launched a comprehensive coverage report on cybersecurity stocks, awarding some companies "outperform" ratings, while downgrading other companies. The investment company pointed out that artificial intelligence is becoming the main catalyst for changing corporate cybersecurity investment strategies. The analysis identified five fundamental trends that affect cybersecurity spending patterns: artificial intelligence defense mechanisms covering technology infrastructure, platform integration among vendors, enhanced data protection, improved observability solutions, and evolving vulnerability management methods. Wedbush emphasized that corporate budgets are consolidating around fewer platforms rather than expanding overall.

CrowdStrike gains premium technology stock status

CrowdStrike received an "outperform" rating and a target price of $250, which has been adjusted based on the company's recent four-to-one stock split. Wedbush listed it as one of its most confident cybersecurity investments and as its preferred technology choice over the subsequent 12-18-month period. [Embed Code: /d/file/20260912/embed]CrowdStrike Holdings, Inc., CRWD analysts highlighted CrowdStrike's Falcon platform and its leadership in enhanced endpoint security solutions. The company also highlighted its progress in autonomous security agents and Security Operations Center automation, which are seen as promising expansion opportunities. CrowdStrike achieved a 25% annual recurring income (ARR) growth and a 51% increase in net new ARR during its latest reporting period. In addition, the company issued a preliminary forecast for a net new ARR growth of at least 20% for fiscal 2028, exceeding Wall Street expectations. Palo Alto Networks was included in Wedbush's "Best Ideas" list with a valuation target of $400. Analysts described it as the most successful platform integration story in cybersecurity. The company achieved a 34% annual revenue growth in fiscal 2026, while platform-based transactions increased 78% year-on-year to 2,500. Rubrik received a target price of $120 and was identified as premier's network elasticity investment target among listed companies. The company showed accelerated annual revenue growth of 38%, and maintained a net Retention rate indicator of 119%. Datadog received an "Outperform" rating with a target price of $275. Wedbush positions it as a leading dedicated solution for cloud-native monitoring and observability. The company reported a 36% year-on-year increase in revenue, marking its sixth consecutive quarter of accelerated growth.

Rating downgrade affects Check Point, Fortinet, Varonis and Telos

Check Point's rating was downgraded to neutral, with its target price dropped to $135 from the previous $160. While Wedbush recognized the company's transformation initiatives under management, analysts pointed out that growth momentum is slowing as fiscal 2027 approaches. Fortinet also faced a downgrade to neutral, but its price target increased to $155 from $125. Wedbush suggested that the stock's year-to-date gain of about 100% already includes expectations for an optimistic scenario. Varonis was adjusted to neutral and its target price was increased to $46. While Wedbush acknowledged that the company is well positioned in terms of autonomous AI applications and data security solutions, analysts pointed out that its growth indicators still lag behind industry peers. Telos received the most severe assessments and was downgraded to "underperform" with a target price of $5. The company's inconsistent performance in citing government contracts and concerns about limited early adoption of Xacta.ai platform products. CrowdStrike shares rose about 0.5% in early trading on September 11, while Check Point and Fortinet fell slightly.

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