Palo Alto Networks Stock Price Forecast: Insights from Wall Street
Palo Alto Networks Stock Price Forecast: Wall Street Insights
Palo Alto Networks (NASDAQ: PANW) recently showcased impressive financial performance, unveiling its Q4 earnings report on August 20. With EPS at $1.51, surpassing expectations of $1.41, and revenue hitting $2.19 billion, this represents a 12% revenue growth year-over-year. Following this strong performance, Wall Street analysts have revised their stock price targets considerably.
Wall Street's Optimistic View on PANW Stock
On August 20, Jefferies analysts increased the price target from $365 to $400, maintaining a buy rating. This reflects a consistent outlook for robust growth in the cybersecurity sector. Similarly, BTIG raised its target from $366 to $395 after analyzing the recent earnings results. Analysts from Rosenblatt Securities upgraded their target from $300 to $345, holding a neutral stance on the stock.
According to TipRanks, among 38 analysts reviewing PANW stock, 32 recommended a buy, affirming a strong buy status with a slight increase in the average price target to $350.96. The recent upgrades indicate potential further increases in estimated price targets, signifying a positive outlook for the cybersecurity firm.
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