Palo Alto Networks Seen Advancing Identity Security Platform Strategy, Oppenheimer Says

MT Newswires Live05-15 22:56

Palo Alto Networks (PANW) is strengthening its platform strategy through the CyberArk rebrand to Idira and its integration across Strata, Cortex and Prisma, Oppenheimer said in a Friday note.

The announcement marks Palo Alto Networks' first public integration of CyberArk's technology and product roadmap into its broader security platform, the firm said.

Oppenheimer said its customer survey showed no signs of churn tied to the CyberArk acquisition. Of 22 customers surveyed, 18% expect to increase spending by more than 20% over the next 12 months, 59% expect to increase spending by 5% to 20%, and none expect cuts.

Palo Alto is also positioning agentic identity security as a key growth vector, including a Secure AI Agents solution.

Oppenheimer reiterated its outperform rating on Palo Alto and raised its price target to $275 from $245.

Price: 237.31, Change: -0.90, Percent Change: -0.38

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