What's Going On With Palo Alto Networks?

Palo Alto Networks, Inc. PANW shares are trading higher Thursday. Earlier this week, the company joined with Orange Business and Orange Cyberdefense ORAN to offer a managed Secure Access Service Edge (SASE) solution that meets enterprise customers' needs.

What To Know: The partnership sets out to address customers' most demanding networking and security requirements with high performance, simplicity, and Zero Trust Network Access 2.0.

The collaboration is particularly significant due to the rise of the ability to work from anywhere. However, with the redesign of distributed network infrastructure to meet the demands of hybrid workers and cloud computing, attack surfaces expand, and they become increasingly vulnerable to cyber threats.

"With more and more enterprises moving their operations to the cloud and taking a digital-first approach, our customers must adopt zero-trust security. Converging networks and security in an agile, simple, and cost-effective way is what our customers demand. Together with Palo Alto Networks and Orange Cyberdefense, we are delivering a fully converged and managed SASE offering that delivers a positive impact for our global customers," said Aliette Mousnier-Lompre, CEO, Orange Business.

Also this week, BTIG analyst Gray Powell maintained Palo Alto Networks with a Buy and raised the price target from $253 to $307.

Related Link: Why Celsius Holdings Shares Are Rising Thursday

PANW Price Action: Shares of PANW were up 3.29% at $246.77 at the time of publication, according to Benzinga Pro.

Image by Gerd Altmann from Pixabay