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Benchmark lifts Palo Alto Networks price target ahead of Q4 earnings
The analyst raised its target to $400 and cited continued enterprise security demand, plus Palo Alto Networks AI security offerings ahead of fiscal Q4.
Palo Alto Networks shares came into focus on Aug. 24 after Benchmark increased its price target ahead of the company’s upcoming fiscal Q4 earnings release, according to Yahoo Finance.
Analyst Yi Fu Lee reiterated a Buy rating and lifted the price objective to $400, implying about 12% potential upside from current levels. The stock is up roughly 90% year to date, the outlet added.
Benchmark pointed to what it views as resilient cybersecurity demand going into earnings, driven by increased enterprise spending as threats become more sophisticated. The firm also highlighted Palo Alto Networks’ expanded portfolio across cloud security, security operations, SASE, and AI security, supporting a broader platform approach for customers.
Yahoo Finance said analysts expect Palo Alto Networks to report EPS of $0.51 for fiscal Q4, which would represent 21.4% year-over-year growth. The outlet also noted the AI security thesis behind the call, including Palo Alto Networks’ claim that its AI models identified more than 14,000 previously unknown open-source vulnerabilities, while cautioning that the shares trade at about 156 times forward earnings.