Chart of Day: Palo Alto Networks (PANW) – 6/23

With cybersecurity issues only expected to worsen, keep an eye on Palo Alto Networks (SYM: PANW).

Not only is it still oversold, with a massive bearish gap to refill, but analysts believe it could run even higher. In fact, D.A. Davidson analysts now have a buy rating on the stock with a price target of $380 at the moment.

panw

“PANW has best-of-breed cybersecurity technology across Network Security / SASE, Cloud Security, & Security Operations / Endpoint Security, something no other cybersecurity vendor can say,” said the firm, as quoted by CNBC. “While there is room for greater integration within each platform & between each platform, PANW still enables greater vendor consolidation than any other pure play cybersecurity vendor in the market.”

Last trading at $311.04, we’d like to see PANW refill its bearish gap at $370 shortly.

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