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Top Stock Picks for Week of January 22, 2024

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Palo Alto Networks, Inc. (PANW - Free Report) offers network security solutions to enterprises, service providers and government entities worldwide.Palo Alto has been benefiting from continuous deal wins and the increasing adoption of its next-generation security platforms, attributable to the rise in the hybrid work environment and the heightened need for stronger security. PANW’s strong back-to-back quarterly performances reflect its sustained focus on product innovation, a shift in its business model to subscription-based services, platform integration and continued investments in the go-to-market strategy. The normalization of the supply chain is also aiding growth across the Products, Services and Subscription segments. Palo Alto has a cash healthy balance sheet. It is one of the stocks most watched by Zacks.com visitors lately.

Pinterest (PINS - Free Report) provides a platform to show its users (called Pinners) visual recommendations (called Pins) based on their personal taste and interests. Pinterest is benefiting from solid net sales growth across all regions. Effort to enhance personalization is driving user engagement. Launch of exciting features such as the ‘More Ideas tab’ in the home feed and AI recommendation engines is driving more content saving on the platform. Continuous advancement in ad tools and measurement solutions is enabling advertisers and retailers to capitalize on users' commercial mindset and improve monetization opportunities. Investors will be eagerly watching for the performance of Pinterest in its upcoming earnings disclosure. PINS also has a Zacks Rank #1 (Strong Buy) rating, demonstrated by the upward trending earnings estimates revisions. With earnings expected to climb in both the coming quarters and years, the company has a multi-timeframe advantage, really improving the odds of the stock rallying.


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