Movement Alert｜Palo Alto Networks Rises 3.1% in Regular Trading, Morgan Stanley Predicts Solid Q3 as Investment Banks Continue Raising Target Prices

Market Focus05-20 23:19

On May 20, Palo Alto Networks rose 3.1% in regular trading, trading at $247.38/share, with trading volume of $609 million.

On the news front, Morgan Stanley issued a research note stating that channel checks indicate strong demand for the company's firewall refresh cycle, with partners reporting results in line with or above expectations. The firm expects Palo Alto Networks to deliver a solid fiscal Q3, with remaining performance obligations (RPO) growth approaching 33% year-over-year, slightly above the midpoint of guidance. The note highlighted continued momentum in the company's platformization strategy and increasing traction for its AI-related security capabilities.

Adding to the bullish sentiment, Truist raised its target price significantly from $200 to $275 while maintaining a buy rating, and Royal Bank of Canada lifted its target to $255 with an outperform rating. Within the cybersecurity sector, CrowdStrike rose 3.79% on the same day, reflecting continued sector-wide strength.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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