Baird raised the firm’s price target on Palo Alto Networks to $360 from $340 and keeps an Outperform rating on the shares after meeting with management. The company is seeing steady demand, improved second half of 2024 visibility and larger-deal incentives to enhance customer lifetime-value, the analyst tells investors in a research note. The firm says Palo Alto hinted a shift to remaining oerformance obligation guidance on the horizon, while maintaining booking metric as the primary business lens.
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