Palo Alto Networks Removed From Wedbush’s ‘Best Ideas List’ — Here’s Why

• Ives played down concerns about the impact that Anthropic’s Claude Code Security can have on cybersecurity vendors.
• He added that Anthropic targeting the cybersecurity market with Claude Code Security validates the firm’s “thesis that cybersecurity is the next frontier for the AI Revolution.”
• Ives’ post comes amid the launch of Anthropic’s Claude Code Security, a new feature in the company’s AI tool that allows users to scan for security vulnerabilities in their code.

Wedbush’s Global Head of Tech Research, Dan Ives, on Monday removed Palo Alto Networks Inc. (PANW) from the firm’s “Best Ideas List”.

According to TheFly, Ives cited investment price discipline as the reason for the removal of PANW from the list. However, the stock remains a part of the Ives AI 30 list, the firm said.

Palo Alto Networks shares were down nearly 2% in Monday’s opening trade. Retail sentiment on Stocktwits around the company trended in the ‘extremely bullish’ territory, with message volumes at ‘extremely high’ levels at the time of writing.

Ives Plays Down Claude Security’s Implications For Vendors

However, Ives played down concerns about the impact that Anthropic’s Claude Code Security can have on cybersecurity vendors. “Based on all checks Claude will not replace vendors….BUT speaks to oppy on doorstep for PANW, CRWD, ZS,” he said.

Ives added that Anthropic targeting the cybersecurity market with Claude Code Security validates the firm’s “thesis that cyber security is the next frontier for the AI Revolution.”

Ives’ post comes amid the launch of Anthropic’s Claude Code Security, a new feature in the company’s AI tool that allows users to scan for security vulnerabilities in their code.

Analysts at TD Cowen also said in a note on Monday that AI coding assistants don’t disrupt cybersecurity platforms, according to TheFly.

The firm added that AI coding assistants improve software quality and developer productivity, but noted that they do not replace security platforms or reduce the structural demand for security. TD Cowen sees no near-term impact on leading platform providers.

What Is Claude Code Security?

Anthropic announced Claude Code Security on Friday, equipping users with a new capability that is now built into Claude Code. In addition to scanning codebases for vulnerabilities, this tool also suggests targeted software patches for human review.

The company says Claude Code Security can read and reason about the code it scans, just like a human security researcher would, rather than relying on traditional automated security testing approaches like static analysis.

The feature is currently available in limited preview to Enterprise and Team customers.

PANW stock is down 20% year-to-date and 23% over the past 12 months.

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