Shaul Eyal, an analyst from TD Cowen, reiterated the Buy rating on Palo Alto Networks. The associated price target is $230.00.
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Shaul Eyal has given his Buy rating due to a combination of factors that highlight Palo Alto Networks’ strong market position and growth potential. The company is strategically positioned to maintain its leadership in platformization, even as competition increases. The anticipated completion of the CYBR acquisition is expected to enhance Palo Alto Networks’ capabilities in the crucial Identity and Access Management (IAM) sector, providing new growth avenues.
Moreover, the company is benefiting from healthy trends in Secure Access Service Edge (SASE), with the recent IPO of NTSK reducing pricing pressures in the market. The potential for significant cross-selling and upselling opportunities post-acquisition, alongside stable pricing and a large total addressable market, supports a positive outlook. Additionally, advancements in cloud security and software firewalls are expected to contribute to sustained growth, further justifying the Buy rating.
In another report released on September 26, Tigress Financial also initiated coverage with a Buy rating on the stock with a $245.00 price target.