Palo Alto Networks Delivers ‘Solid Finish’ To Year, 10 Analysts Raise Forecasts
Shares of Palo Alto Networks Inc (NASDAQ:PANW) were climbing in early trading on Tuesday.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
- KeyBanc Capital Markets analyst Eric Heath maintained an Overweight rating, while raising the price target from $380 to $400.
- Cantor Fitzgerald analyst Yi Fu Lee reiterated an Overweight rating, while lifting the price target from $350 to $400.
- Stifel analyst Adam Borg reaffirmed a Buy rating, while raising the price target from $360 to $385.
- RBC Capital Markets analyst Matthew Hedberg maintained an Outperform rating, while lifting the price target from $390 to $410.
- Needham analyst Matt Dezort reiterated a Buy rating, while raising the price target from $345 to $385.
- Piper Sandler analyst Rob Owens reaffirmed a Neutral rating, while lifting the price target from $300 to $330.
- Goldman Sachs analyst Gabriela Borges maintained a Buy rating, while raising the price target from $330 to $376.
- BMO Capital Markets analyst Keith Bachman reiterated an Outperform rating, while lifting the price target from $334 to $390.
- Truist Securities analyst Joel Fishbein reaffirmed a Buy rating, while raising the price target from $350 to $400.
- Oppenheimer analyst Ittai Kidron maintained an Outperform rating, while lifting the price target from $390 to $410.
- JMP Securities analyst Trevor Walsh reiterated a Market Outperform rating and price target of $380.
- WestPark Capital analyst Paul Rodriguez reaffirmed a Hold rating on the stock.
Check out other analyst stock ratings.
KeyBanc: Palo Alto Networks reported its fiscal fourth-quarter billings at $3,502 million. This represents 11% year-on-year growth, beating consensus of $3.45 billion, Heath said in a note. Revenues came in at $2.19 billion, topping expectations of $2,161 million, he added.
Management’s RPO guidance for fiscal 2025 of $15.2 billion to $15.3 billion missed consensus of $15.4 billion. Management did not indicate that the CrowdStrike Holdings Inc (NASDAQ:CRWD) outage had an impact on bookings in the fourth quarter “but does expect it to help its momentum in Cortex XDR,” he further wrote.
Cantor Fitzgerald: Palo Alto Networks delivered “a solid finish to the year end,” with higher-than-expected revenues, billings, and operating income, Lee said. Management’s fiscal 2025 guidance was also “solid,” he added.
More importantly, the Platformization Strategy is proving to be more than just a buzzword, as the company has added over 90 new platformization customers in the fiscal fourth quarter, the analyst …
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