Palo Alto shares rally on upbeat revenue forecast
Shares of Palo Alto Networks PANW.O up 5.7% at $186.40 in premarket trading after the company forecasted fiscal 2026 revenue and profit above Wall Street estimates
Outlook reflects strong demand for AI-powered cybersecurity solutions amid a surge in enterprise cloud adoption and modernization of security operations
Co last month announced a planned $25 billion acquisition of CyberArk, aimed at further strengthening its cybersecurity portfolio
Recent high-profile cyberattacks on firms like Microsoft, UnitedHealth, Disney, and Oracle have intensified the need for robust security platforms
Analysts at Bernstein say software firewalls drove strong next-gen security revenue; AI and cloud were softer, but annual recurring revenue signals a rebound
Raise PT to $207 from $204
8 brokerages raised their PT on co post results - data compiled by LSEG
YTD stock down ~3.2%
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