Here are some key analyst takeaways of the cybersecurity innovator’s finances:
DA Davidson analyst Rudy Kessinger reiterated a Buy rating, while raising the price target from $190 to $345.
Needham analyst Mike Cikos maintained a Buy rating, while lifting the price target from $200 to $350.
BTIG analyst Gray Powell reaffirmed a Buy rating, while taking the price target higher from $268 to $333.
Cantor Fitzgerald analyst Yi Fu Lee reiterated a Buy rating, while raising the price target from $270 to $340.
Rosenblatt Securities analyst Catharine Trebnick maintained a Buy rating, while lifting the price target from $275 to $355.
Scotiabank analyst Patrick Colville reaffirmed a Sector Outperform rating, while taking the price target higher from $180 to $320.
Loop Capital Markets analyst Yun Kim reiterated a Hold rating and price target of $290.
Check out other analyst stock ratings.
DA Davidson: Palo Alto Networks reported revenues ($3.002 billion), operating profit ($814 million) and earnings of 85 cents per share. It topped consensus of $2.943 billion, $764.3 million and 80 cents per share, respectively. The stock came under pressure following the results due to "sky-high expectations," Kessinger said in a note.
The company witnessed platformization momentum, adding around 110 net new platformizations among their top 5,000 customers in the fiscal third quarter. Management guided to revenues and earnings for the fiscal fourth quarter at $3.35 billion and 97 cents per share, higher than consensus of $3.28 billion and 94 cents per share, he noted.
Needham: Palo Alto Networks reported "impressive" results, which came in higher than elevated expectations, Cikos said. Both CyberArk and Chronosphere exceeded management’s expectations in the first quarter ...
