Wells Fargo analyst Andrew Nowinski raised the firm’s price target on Palo Alto Networks (PANW) to $450 from $416 and keeps an Overweight rating on the shares. The firm notes shares traded down about 5% after hours likely on concerns around the billings miss, despite the free cash flow beat. The 17% year-over-year decline in organic net new ARR is also likely weighing on shares though it was significantly above guide, Wells adds. The firm remains a buyer on the pullback.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PANW:
- Palo Alto Networks Reports Strong Q1 2025 Results
- Closing Bell Movers: Nvidia down slightly after Q3 results
- Palo Alto Networks CEO: We are seeing strong demand across the board
- PANW Earnings: Palo Alto Networks Stock Drops 5% on Mixed Financial Results
- Palo Alto Networks reports Q1 Next-Generation Security ARR $4.5B, up 40% y/y