TD Cowen Stays Bullish on PANW Ahead of Q1 Results

Palo Alto Networks, Inc. (NASDAQ:PANW) is one of the AI Stocks Investors Are Watching. On November 13, analyst Shaul Eyal from TD Cowen maintained a “Buy” rating on the stock and raised the price target to $255.00. The firm is optimistic on PANW ahead of its upcoming first-quarter earnings report on November 19.

TD Cowen believes PANW has robust growth potential due to its successful platformization efforts and the rapid adoption of its artificial intelligence solutions. The company’s platformization efforts have led to solid demand and momentum in large-scale deals particularly in critical sectors like banking, energy, and transportation.

Eyal’s positive outlook is also driven by PANW’s ongoing firewall refresh cycle, which backs the growth of the company’s Next-Generation Security Annual Recurring Revenue.

Moreover, PANW’s acquisition of CYBR, anticipating completion within or ahead of the anticipated deadline, is also seen as a tailwind. This completion will likely improve Palo Alto’s platform capabilities, particularly in the domain of identity security.

Palo Alto Networks, Inc. (NASDAQ:PANW) is a leader in AI-powered cybersecurity.

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