Cybersecurity Stocks Seeing Early AI Gains

Cybersecurity is becoming increasingly important in the age of AI, as the number and sophistication of threats increase. Combining cybersecurity with AI has a natural affinity as cyberattacks are computer generated, and in turn, computers are uniquely capable of finding computer-generated threats.

Palo Alto is rolling out a comprehensive AI product suite, with the launch of AI Access, AI SPM, and AI Runtime Security in May, combined with its AI-driven SecOps platform Cortex and AI integrations in its Prisma Cloud and SASE offerings. Palo Alto noted inearnings call that its AI Access could be deployed to its 5,000+ Prisma Access customers, while nearly 1,000 customers were also interested in AI Access.

With the strengths arising in AI, Palo Alto is expecting NGS ARR growth to remain robust, though headline growth is decelerating due to the law of large numbers. NGS ARR is guided to increase 34% to 36% YoY in Q1 of fiscal 2025, reaching between $4.33 billion to $4.38 billion. On a dollar basis, that represents YoY growth of $1.13 billion, marginally higher than the $1.

However, AI-driven SecOps’ billings have been lumpy, and are lower in Q2 than they were in Q4. Based on the 10% figure, Q2’s AI-driven SecOps billings were approximately $154 million, up just over 22% QoQ but down more than from $186 million in Q4. AI-driven SecOps also has not surpassed 10% of total billings in each of the last four quarters.

Adoption rates for CrowdStrike’s modules remain strong, with adoption of 6+ and 7+ rising 1 point each sequentially to 45% and 29%. Additionally, similar to Palo Alto, CrowdStrike’s ‘hypergrowth’ products are witnessing strong growth, with ending ARR for the group surpassing $1 billion, up 85% YoY.Cyberattacks are rising in both number and sophistication. While 2024 has been a bit of a wild ride for the industry, cybersecurity is only growing in importance in the age of AI.

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