TD says AI coding assistants don’t disrupt cybersecurity platforms

TD Cowen notes that Anthropic’s release on Friday of Claude Code Security generated price pressure across cybersecurity stocks, but following conversations with venture capital investors, coders, and private companies, the analyst believes AI coding assistants improve software quality and developer productivity, but they do not replace security platforms or reduce the structural demand for security. The firm sees no near-term impact on leading platform providers, adds the analyst. Publicly traded companies in the cybersecurity space include Check Point (CHKP), CrowdStrike (CRWD), CyberArk (CYBR), F5 (FFIV), Fortinet (FTNT), Gen Digital (GEN), Okta (OKTA), Palo Alto Networks (PANW), JFrog (FROG) and Qualys (QLYS).