On August 14, we said, “Keep an eye on rebounding shares of Palo Alto Networks (SYM: PANW). After bottoming out at about $284, the cybersecurity stock is now back to $331. From here, if it can break above $340 resistance, it could test $345 near term. Helping, analysts at Mizuho just named PANW a top idea.”
Today, PANW is up to $360.
From here, if it can break above resistance at $375.37, it could retest $380. Analysts at KeyBanc reiterated an overweight rating with a price target of $400 from $380. RBC Capital analysts also reiterated an outperform rating on the stock with a price target of $410 from $390. JMP Securities also reiterated an outperform rating with a price target of $380.
