Scotiabank Maintains Sector Outperform on Datadog, Raises Price Target to $285

Why Palo Alto Networks Stock Just Popped

Palo Alto Networks stock surged 11.1% on reports the cybersecurity company is shifting into acquisition mode. After failed attempts to acquire Okta and Datadog at lower valuations, Palo Alto is now targeting smaller companies Cribl and ClickHouse for potential acquisition.

Shares of cybersecurity-related companies are trading higher amid sympathy with Crowdstrike and Okta after those companies reported better-than-expected financial results and raised their respective guidance metrics above estimates.

CRWD and OKTA

Synopsys Posts Upbeat Q3 Results, Joins Okta, Veeva Systems, Crowdstrike And Other Big Stocks Moving Higher On Thursday

U.S. stocks mostly higher, Nasdaq up 1%. Synopsys Inc. reports strong Q3 results and raises outlook. Other gainers include Okta, Veeva, Salesforce, Ooma, Crowdstrike, Sailpoint, Hyperliquid, Tenable, Palo Alto Networks, and Zscaler.

Datadog shares are trading higher following reports suggesting Palo Alto Network CEO Arora made multiple attempts to acquire the company.