These Analysts Boost Price Targets On Palo Alto Networks Following Upbeat Q4 Results

Palo Alto Networks, Inc. PANW reported better-than-expected results for its fourth quarter and issued FY23 guidance above estimates. The company’s board also announced a three-for-one stock split.

Palo Alto shares rose 8.8% to $552.50 in pre-market trading.

Several analysts made changes to their price targets on Palo Alto today.

• Keybanc raised the price target on the stock from $630 to $680. Keybanc analyst Michael Turits maintained an Overweight rating on the stock.
• Barclays increased price target on the stock from $605 to $695. However, Barclays analyst Saket Kalia maintained Palo Alto with an Overweight.
• Citigroup boosted Palo Alto’s price target $605 to $640. However, Citigroup analyst Fatima Boolani maintained the stock with a Buy.
• Piper Sandler raised the price target on the stock from $650 to $690. However, Piper Sandler analyst Rob Owens maintained Palo Alto with an Overweight.
• Raymond James boosted price target on the stock from $610 to $640. Raymond James analyst Adam Tindle maintained Palo Alto with an Outperform.
• RBC Capital raised the price target on the stock from $680 to $700. RBC Capital analyst Matthew Hedberg maintained the stock with an Outperform rating.
• Credit Suisse increased PANW’s price target from $635 to $685. Credit Suisse analyst Phil Winslow maintained an Outperform rating on the stock.
• BMO Capital boosted PANW’s price target from $650 to $675. BMO Capital analyst Keith Bachman maintained the stock with an Outperform.
• Wells Fargo increased price target on the stock from $700 to $750. Wells Fargo analyst Andrew Nowinski maintained Palo Alto with an Overweight.
• Mizuho boosted the price target on the stock from $600 to $660. Mizuho analyst Gregg Moskowitz maintained PANW with a Buy.
• UBS raised price target on the stock from $545 to $590. UBS analyst Roger Boyd maintained a Neutral rating on Palo Alto Networks.