Is Palo Alto Networks Stock Going to $360? 1 Wall Street Analyst Thinks So.
The share price of Palo Alto Networks (NASDAQ: PANW) reached $380 earlier this year but currently sits at $293 as of this writing. The company continues to see strong demand for its cybersecurity solutions, and one analyst believes it's worth buying on the dip.
Morgan Stanley analyst Hamza Fodderwala is maintaining an overweight (buy) rating on the shares with a $360 price target -- 23% upside from the current share price.
Palo Alto's revenue grew 19% year over year in the January-ending quarter, with remaining performance obligations up 22%. But the solid top-line growth was overshadowed by management's guidance that calls for revenue to grow between 13% and 15% in fiscal Q3.
Source Fool.com