PANW Stock: $560 Price Target From Mizuho

By Amit Chowdhry ● Sep 18, 2021
  • The shares of Palo Alto Networks Inc (NYSE: PANW) have received a $560 price target by Mizuho. These are the details.

The shares of Palo Alto Networks Inc (NYSE: PANW) have received a $560 price target by Mizuho. Mizuho analyst Gregg Moskowitz had increased the price target from $525. And Moskowitz is maintaining a “Buy” rating on the company shares.

The price target and rating were adjusted following Palo Alto Networks’ analyst day. During the event, Palo Alto Networks had provided fiscal 2024 guidance for $10 billion in billings and $8 billion in revenue. This is materially above Wall Street forecasts of $9.2 billion in billings and $7.4 billion in revenue.

Moskowitz is very constructive on the improving mix shift for the company towards higher growth recurring revenue. And Moskowitz reiterated the view that Palo Alto easily possesses the strongest array of cloud assets among traditional network security vendors.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.