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Cybersecurity stocks hit record highs as AI threat landscape shifts
CrowdStrike and Palo Alto Networks both jumped after Black Hat in Las Vegas, and BTIG lifted its price targets, citing a new AI-driven endpoint security modernization cycle.
CrowdStrike and Palo Alto Networks shares surged to record highs after the cybersecurity industry’s annual Black Hat conference in Las Vegas, with both stocks jumping more than 5% on August 10, 2026, according to Yahoo Finance.
Analysts highlighted how AI is changing both sides of cybersecurity, saying AI agents are becoming a leading attack method while also increasing demand for defenses. BTIG said AI security deployment remains in the early innings, suggesting a long runway for spending.
BTIG also raised its CrowdStrike price target to $237, about 11% above Friday’s close, arguing that AI agents are driving a new modernization cycle in endpoint security that aligns with CrowdStrike’s core business. The firm linked its view to CrowdStrike CEO George Kurtz’s June comments that Mythos-related work under Project Glasswing led to a deluge of customer, prospect, and partner inquiries.
For Palo Alto Networks, BTIG lifted its price target to $380, about 4% above Friday’s close, pointing to the company’s identity platform as a potential beneficiary as AI agents spread. Cantor added that AI has become a key pillar of both the attack surface and the defense infrastructure businesses Palo Alto serves.