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, noting, “Our checks indicate an uptick in PANW demand for the first time in several quarters, and we raise our PT to $380 (was $350),” as noted by CNBC.
Barclays also raised its price target on $350 with an overweight rating ahead of PANW earnings on Aug. 19. In addition, as noted by TheFly.com, “The firm thinks the company could beat fiscal Q4 billings and provide a revenue performance obligations guide instead of billings guide for fiscal 2025.”
