Palo Alto forecasts annual results above estimates on cybersecurity demand
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Palo Alto Networks (PANW) PT Raised to $400 at BofA Securities
August 21, 2024 6:16 AM EDTBofA Securities analyst Tal Liani raised the price target on Palo Alto Networks (NASDAQ: PANW) to $400.00 (from $370.00) while maintaining a Neutral rating.
The analyst comments "4Q24 results were strong with NGS ARR growth of 42.8% YoY, as well as solid margins and FCF... More
Palo Alto Networks (PANW) PT Raised to $400 at FBN Securities
August 20, 2024 9:20 AM EDTFBN Securities analyst Shebly Seyrafi raised the price target on Palo Alto Networks (NASDAQ: PANW) to $400.00 (from $350.00) while maintaining a Outperform rating.
The analyst comments "We retain our Outperform rating on PANW and raise our PT from $350 to $400 following better than expected FQ4 results in which RPO grew by... More
Palo Alto Networks (PANW) PT Raised to $400 at Wedbush
August 20, 2024 6:57 AM EDTWedbush analyst Daniel Ives raised the price target on Palo Alto Networks (NASDAQ: PANW) to $400.00 (from $375.00) while maintaining a Outperform rating.
The analyst comments "We continue to believe the platform approach in cyber security is the right long-term move for PANW and... More
Palo Alto Networks (PANW) PT Raised to $410 at RBC Capital
August 20, 2024 6:22 AM EDTRBC Capital analyst Matthew Hedberg raised the price target on Palo Alto Networks (NASDAQ: PANW) to $410.00 (from $390.00) while maintaining a Outperform rating.
The analyst comments "We thought the quarter represented a strong finish to the FY with momentum building into FY/25. We liked hearing... More
Palo Alto Networks (PANW) PT Raised to $400 at Cantor Fitzgerald
August 20, 2024 6:00 AM EDTCantor Fitzgerald analyst Jonathan Ruykhaver raised the price target on Palo Alto Networks (NASDAQ: PANW) to $400.00 (from $350.00) while maintaining a Overweight rating.
The analyst comments "Investment Summary. We reiterate our Overweight rating and raise our price target to $400 from $350 on a strong finish to FY2024. Palo Alto Networks delivered a solid finish to the year end on revenue exceeding FactSet consensus... More
Palo Alto Networks (PANW) PT Raised to $399 at Bernstein SocGen Group
August 20, 2024 5:15 AM EDTBernstein SocGen Group analyst Peter Weed raised the price target on Palo Alto Networks (NASDAQ: PANW) to $399.00 (from $364.00) while maintaining a Outperform rating.
The analyst comments "Palo Alto Networks closed out its FY24 with a FQ4 with another accelerating revenue beat to +1.4%... More
Palo Alto Networks (PANW) PT Raised to $330 at Piper Sandler
August 20, 2024 5:10 AM EDTPiper Sandler analyst Rob Owens raised the price target on Palo Alto Networks (NASDAQ: PANW) to $330.00 (from $300.00) while maintaining a Neutral rating.
The analyst comments "Platformization momentum accelerated to end F'24, with the number of platformization deals up 50%+ in 4Q. This... More
Palo Alto Networks (PANW) PT Raised to $395 at Deutsche Bank
August 20, 2024 5:00 AM EDTDeutsche Bank analyst Brad Zelnick raised the price target on Palo Alto Networks (NASDAQ: PANW) to $395.00 (from $330.00) while maintaining a Buy rating.
The analyst comments "Despite some concerns around the July 19 CrowdStrike outage hampering consolidation forces within cyber, 'platformization' is winning the day for PANW with multiple customer success stories and supporting metrics including 90 new such deals in F4Q up from 65 in F3Q. The company boasts well over 1,000 'platformized' customers amongst their largest 5,000, along with healthy expansion rates and rising interest and activity among senior level customer execs. We believe... More
BofA Securities Reiterates Neutral Rating on Palo Alto Networks (PANW)
August 20, 2024 4:56 AM EDTBofA Securities analyst Tal Liani reiterated a Neutral rating and $370.00 price target on Palo Alto Networks (NASDAQ: PANW).
The analyst comments "Palo Alto Networks reported a strong quarter with NGS ARR up ~43% YoY vs. Streets 38.1%, fueled by progress across all next-generation security... More
Goldman Sachs Reiterates Buy Rating on Palo Alto Networks (PANW)
August 20, 2024 4:50 AM EDTGoldman Sachs analyst Gabriela Borges reiterated a Buy rating and $376.00 price target on Palo Alto Networks (NASDAQ: PANW)
The analyst comments "Palo Alto reported an overall solid quarter: 4QFY (July) revenue was 1% above the Street and EPS 7% above (FactSet). FY25 guidance is for RPO growth of... More
Wolfe Research Reiterates Outperform Rating on Palo Alto Networks (PANW)
August 20, 2024 4:48 AM EDTWolfe Research analyst Joshua Tilton reiterated an Outperform rating and $385.00 price target on Palo Alto Networks (NASDAQ: PANW).
The analyst comments "Revenue and NGS ARR stood out, growing 12% and 43% Y/Y, and coming in 1.3% and 3.7% ahead of consensus, respectively. Total Billings... More
Palo Alto Networks (PANW) PT Raised to $390 at BMO Capital
August 20, 2024 4:46 AM EDTBMO Capital analyst Keith Bachman raised the price target on Palo Alto Networks (NASDAQ: PANW) to $390.00 (from $334.00) while maintaining a Outperform rating.
The analyst comments "We are not surprised that PANW is moving away from offering billings guidance, and we... More
Mizuho Reiterates Outperform Rating on Palo Alto Networks (PANW)
August 20, 2024 4:44 AM EDTMizuho analyst Gregg Moskowitz reiterated an Outperform rating and $380.00 price target on Palo Alto Networks (NASDAQ: PANW).
The analyst comments "PANW reported a very good close to its fiscal year, as F4Q revenue growth upside was more than usual, while... More
Guggenheim Reiterates Neutral Rating on Palo Alto Networks (PANW)
August 20, 2024 4:44 AM EDTGuggenheim analyst John DiFucci reiterated a Neutral rating on Palo Alto Networks (NASDAQ: PANW).
The analyst comments "Key Message: Palo Alto Networks reported decent F4Q24 results with revenue and cash flow largely in line to a bit above consensus estimates, while NGS ARR and EPS were better. Importantly, our calculation of Total New ARR grew modestly (+2%) after three consecutive quarters of decline, though it was against an easier comp. Included in Total New ARR are: NGS components included in Product, Subscription, and Support, along with current... More
Palo Alto Networks (PANW) PT Raised to $387 at JPMorgan
August 20, 2024 4:43 AM EDTJPMorgan analyst Brian Essex raised the price target on Palo Alto Networks (NASDAQ: PANW) to $387.00 (from $365.00) while maintaining a Overweight rating.
The analyst comments "Healthy 4Q results with guidance better than expected. Results for 4Q were solid overall as Palo Alto delivered better than expected Next Gen ARR, revenue, operating margin, and non-GAAP EPS. Ending the year with a FCF margin of nearly 39% was also a notable positive. Guidance for FY25 RPO growth was a bit light, but FY25 guidance for Next Gen ARR,... More
Palo Alto Networks (PANW) PT Raised to $400 at Jefferies
August 20, 2024 4:40 AM EDTJefferies analyst Joseph Gallo raised the price target on Palo Alto Networks (NASDAQ: PANW) to $400.00 (from $365.00) while maintaining a Buy rating.
The analyst comments "F4Q billings grew 11% yoy vs Cons 9%. While the shifting of metrics muddies guidance (RPO impacted by... More
Palo Alto Networks (PANW) PT Raised to $395 at Evercore ISI
August 20, 2024 4:36 AM EDTEvercore ISI analyst Peter Levine raised the price target on Palo Alto Networks (NASDAQ: PANW) to $395.00 (from $385.00) while maintaining a Outperform rating.
The analyst comments "PANW delivered a strong quarter and provided an outlook that met expectations. The core of our Tactical Underperform (here) was the lack of confidence going into the print given all the moving pieces, and although the guidance wasnt one for the record books, it was good enough. As expected, mgmt will be transitioning away from providing a billings guide but gave us an FY25 target of... More
Palo Alto Networks (PANW) PT Raised to $395 at Citi
August 20, 2024 4:33 AM EDTCiti analyst Fatima Boolani raised the price target on Palo Alto Networks (NASDAQ: PANW) to $395.00 (from $385.00) while maintaining a Buy rating.
The analyst comments "Against elevated expectations shares, valuation near all-time highs PANW delivered an even-keeled print. NGS ARR (43% YoY, $4B+ scale +5pts... More
Palo Alto Networks (PANW) PT Raised to $415 at DA Davidson
August 20, 2024 4:31 AM EDTDA Davidson analyst Rudy Kessinger raised the price target on Palo Alto Networks (NASDAQ: PANW) to $415.00 (from $380.00) while maintaining a Buy rating.
The analyst comments "FQ4 results were nicely ahead on almost all metrics, including Billings. Net New NGS ARR of... More
Palo Alto Networks (PANW) PT Raised to $395 at BTIG
August 20, 2024 4:30 AM EDTBTIG analyst Gray Powerll raised the price target on Palo Alto Networks (NASDAQ: PANW) to $395.00 (from $366.00) while maintaining a Buy rating.
The analyst comments "PANW posted strong FQ424 results and the initial outlook for FY25 was broadly in-line with expectations across key metrics. Most notably, PANW posted billings growth of 10.8% y/y in Q424 ahead of... More
