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1 Wall Street Analyst Thinks Palo Alto Networks Stock Is Going to $425. Is It a Buy?

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1 Wall Street Analyst Thinks Palo Alto Networks Stock Is Going to $425. Is It a Buy?: https://g.foolcdn.com/editorial/images/765900/gettyimages-1485822404.jpg

Shares of cybersecurity company Palo Alto Networks (NASDAQ: PANW) could soar to $425, according to analysts at BTIG, who recently raised their price target on the stock from $343 to $425 while maintaining a "buy" rating.

They cited their belief the company will report in-line results in the fiscal second quarter and maintain its fiscal 2024 guidance. Palo Alto is scheduled to report results after the market closes on Feb. 20.

Billings, the amount invoiced to customers in a given period, has been a weak spot for Palo Alto in recent quarters. This metric grew just 16% year over year in the quarter that ended on Oct. 31.

Source Fool.com

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