In a report published Monday, Pacific Crest Securities analyst Rob Owens maintained an Outperform rating on Palo Alto Networks, Inc. PANW, while raising the price target from $130 to $150.
In the report, Pacific Crest Securities noted, "We are raising our price target to $150 as momentum remains impressive and expectations are beatable. Ramping FCF gives us confidence that shares can head higher. We believe PANW is the premier name in network security and a core holding."
Owens cited 5 things to look for in the company's FQ2 Earnings Call as:
"1. Strength in network security markets leads to another quarter of upside to product revenue
2. Signs of margin lift as the company heads toward its long-term profitability model
3. High subscription attach rates drive another quarter of 40%-plus billings growth
4. StrengthinadoptioninpaidWildFiresolutionshowscompetitivewinsinAPT space
5. Early wins on TRAPS endpoint solution and traction of PA-7050"
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in