Palo Alto Networks (PANW) Completes Dig Security Acquisition – December 6, 2023 – Zacks.com
Zacks Investment Research –
Palo Alto Networks (PANW) has completed its acquisition of Dig Security, an innovative provider of Data Security Posture Management (DSPM).
Israel-based Dig Security’s platform allows organizations to discover, classify, monitor, and protect sensitive data across all cloud data stores.
This acquisition is aimed at enhancing Palo Alto’s customers’ visibility and control of their multi-cloud data estate.
This move will particularly fortify Palo Alto’s Prisma Cloud platform, allowing near-real-time data protection across the entire cloud estate.
The integration of Dig Security’s capabilities has strengthened the Prisma Cloud platform’s comprehensive cloud security offerings.
This aligns with Palo Alto’s ongoing effort to enhance Prisma Cloud through acquisitions and additional tools/features.
Notably, the company previously acquired Cider Security in 2022, adding to its application security and software supply-chain security solutions.
This expanded Prisma Cloud now encompasses an industry-leading comprehensive supply-chain security solution as part of its code-to-cloud security platform.
The company also emphasizes its commitment to providing end-to-end security across the full application lifecycle through its acquisitions, including Bridgecrew in 2021.
PANW currently holds a Zacks Rank #3 (Hold), and its shares have surged by 109.4% year to date (YTD).
For investors seeking better-ranked stocks in the broader technology sector, Zacks suggests considering Intel Corporation (Zacks Rank #1), Aspen Technology, Inc. (Zacks Rank #2), and Datadog, Inc. (Zacks Rank #2).
– Intel: The Zacks Consensus Estimate for Intel’s fourth-quarter 2023 earnings has seen positive revisions, with expected robust earnings and strong YTD performance.
– Aspen: The Zacks Consensus Estimate for Aspen’s fiscal 2024 earnings has also received positive revisions, despite past negative surprises in earnings.
– Datadog: Positive earnings momentum continues for Datadog, with favorable revisions for future earnings and consistently beating earnings estimates in the past four quarters.
As such, these companies present promising opportunities within the technology sector.
Link: https://www.zacks.com/stock/news/2193965/palo-alto-networks-panw-completes-dig-security-acquisition