Goldman Sachs raised the firm’s price target on Palo Alto Networks (PANW) to $240 from $236 and keeps a Buy rating on the shares after its Q1 earnings beat. Given an in line quarter, commentary was focused on Palo Alto’s strategic position in the security ecosystem, and its next phase of wallet share gains catalyzed by AI, quantum evolution, and the convergence of security and observability, the analyst tells investors in a research note. The company’s thought leadership on these topics and its willingness to acquire next-gen assets is one of the key reasons it will continue to take industry share over the long term, the firm added.
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