What's Going On With Palo Alto Networks Stock?

Palo Alto Networks Inc PANW shares are trading 0.8% higher Thursday, adding to gains of nearly 9% over the last week. The stock has trended higher amid positive analyst changes leading up to earnings.

What To Know: Palo Alto is due to report fourth-quarter financial results after the market close on Monday. Analysts expect the cybersecurity giant to report earnings of $1.41 per share on revenue of $2.162 billion.

Palo Alto rarely misses estimates. The company has met or exceeded analyst expectations in 16 of the last 17 quarters, according to data from Benzinga Pro.

Last quarter, Palo Alto reported revenue of $1.985 billion versus estimates of $1.967 billion and earnings of $1.32 per share versus estimates of $1.25 per share.

“We have remained disciplined in our execution while investing in go-to-market and innovation. We delivered consistent, profitable growth yet again in Q3 and look forward to executing against our strategic goals and financial targets as we close out the year,” Palo Alto CFO Dipak Golechha said at the time.

Check This Out: Broadcom Launches Catalyst Initiative To Grow Its Cybersecurity Market Presence

Several analysts have lifted price targets on Palo Alto over the last week leading up to earnings:

• Citigroup analyst Fatima Boolani maintained Palo Alto with a Buy and raised the price target from $345 to $385.

• Scotiabank analyst Patrick Colville maintained Palo Alto with a Sector Outperform and raised the price target from $337 to $385.

• WestPark Capital reiterated Hold on Palo Alto Networks

• UBS analyst Roger Boyd maintained Palo Alto with a Neutral and raised the price target from $300 to $345.

• Stifel analyst Adam Borg maintained Palo Alto with a Buy and raised the price target from $330 to $360.

• Barclays analyst Saket Kalia maintained Palo Alto with an Overweight and raised the price target from $325 to $350.

PANW Price Action: Palo Alto has a 52-week high of $380.84 and a 52-week low of $201.17. Palo Alto shares were up 1.41% at $344.70 at the time of publication, according to Benzinga Pro.

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