- The shares of Palo Alto Networks Inc (NASDAQ: PANW) have received an $823 price target from Morgan Stanley. These are the details.
The shares of Palo Alto Networks Inc (NASDAQ: PANW) have received an $823 price target from Morgan Stanley. And Morgan Stanley analyst Hamza Fodderwala is maintaining an “Overweight” rating on the shares.
Fodderwala adjusted the rating while noting that despite pushback regarding stock-based compensation and inflation from multi-year upfront deals, the shares of Palo Alto Networks are still considered materially mispriced for 30% free cash flow growth and increasing stock buybacks. And Fodderwala pointed out that Palo Alto Networks has received renewed scrutiny with more investor focus on stock-based compensation in tech.
Plus Fodderwala believes some of these concerns lack context and are likely overdone.
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