Is the party over for cybersecurity stocks? Investors might think so after news that Peter Weed from Sanford Bernstein downgraded three cybersecurity stocks. He downgraded Palo Alto Networks (NASDAQ: PANW) from Outperform to Market Perform; the same applied to Okta Inc. (NASDAQ: OKTA) and SentinelOne (NYSE: S).
Interestingly, Weed raised his price target on all three stocks despite the downgrades. SentinelOne was the only one whose new target exceeded the consensus. That distinction matters because Palo Alto, Okta, and SentinelOne are all trading near their respective consensus price targets.
