Palo Alto Networks Stock Price: $410 Target By Northland Securities

By Amit Chowdhry ● Dec 23, 2020
  • Palo Alto Networks Inc (NYSE: PANW) has received a price target increase from $350 to $410 by Northland Securities. These are the details.

Palo Alto Networks Inc (NYSE: PANW) has received a price target increase from $350 to $410 by Northland Securities. And Northland Securities analyst Nehal Chokshi reiterated a Buy rating on the company shares.

Chokshi decided on the price target following an update about an investor call with CFO Luis Visoso. During that call, Visoso discussed an initiative to increase the levels of transparency about the company. And Chokshi noted that Palo Alto Networks has been transparent about the efficacy of its products when it comes to the Sunburst hack.

Last week, Palo Alto Networks CEO Nikesh Arora had told CNBC that every business and federal agency needs to take stock of their network securities.

“We’ve got to make sure we’re secure. Before we try to go ahead and try to do anything else… every organization, every agency has to go through and make sure that they are not impacted,” said Arora via CNBC’s “Squawk on the Street.” “If they have an iota of doubt on the fact that they may be impacted, they’ve got to make sure they secure their infrastructure. They also have to be prepared for this if it happens again. I don’t think it’s the last one we’re going to see.”

Disclosure: I have a small PANW position in my stock portfolio.