Analyst Shrenik Kothari of Robert W. Baird maintained a Buy rating on Palo Alto Networks (PANW – Research Report), with a price target of $230.00.
Shrenik Kothari has given his Buy rating due to a combination of factors that highlight Palo Alto Networks’ strategic advancements in AI security. The company’s recent acquisition of Protect AI, a firm specializing in safeguarding AI/ML systems, significantly enhances its capabilities in this critical area. This move, coupled with the launch of Prisma AIRS, a comprehensive AI security platform, positions Palo Alto Networks to address the growing need for robust AI lifecycle protection.
By integrating Protect AI’s unique zero trust principles and continuous scanning features, Palo Alto Networks is poised to offer a differentiated and comprehensive AI security solution. This strategic acquisition and platform expansion not only reinforce the company’s leadership in the AI security space but also align with the increasing enterprise demand for secure AI environments. As a result, Kothari views these developments as pivotal in driving future growth and maintaining a competitive edge, justifying the Buy rating.
In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $215.00 price target.