Keep an eye on rebounding shares of Palo Alto Networks (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. As noted by TheFly.com, “The firm thinks the company could beat fiscal Q4 billings and provide an revenue performance obligations guide instead of billings guide for fiscal 2025.”