Stifel Reiterates Buy Rating on Palo Alto Networks (PANW)

Stifel analyst Adam Borg reiterated a Buy rating and $225.00 price target on Palo Alto Networks (NASDAQ: PANW).

The analyst commented, “On Wednesday (3/26), we attended Palo Alto's Ignite on Tour NYC, which is one of over 15 global stops as part of Palo's local customer event series. At the event, we sat in on presentations and spoke with a handful of customers, partners, and employees. Not surprisingly, Palo leadership, including President BJ Jenkins, among others, extolled the benefits of Palo’s broad cybersecurity platform spanning network security, cloud security, and security operations, why Palo is well-positioned as a platform consolidator, and highlighted Palo’s growing AI opportunity across its stack.Net/net, event messaging was very consistent with Palo’s recent commentary, conversations with customers/partners suggest limited signs of near-term macro-related pause/ disruptions as cybersecurity remains a top priority, and we come away confident that Palo is well-positioned as a platform consolidator in coming years. Looking ahead, we look forward to conducting end-of-quarter cybersecurity checks in coming days.”

For an analyst ratings summary and ratings history on Palo Alto Networks click here. For more ratings news on Palo Alto Networks click here.

Shares of Palo Alto Networks closed at $184.96 yesterday.

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