BTIG reiterated its Buy rating on Palo Alto Networks Inc. (NASDAQ: PANW) with a price target of $380, citing accelerated growth in core security practices and a favorable channel check. The firm conducted discussions with eleven industry contacts, including six partners generating approximately $1.7 billion in combined annual sales for Palo Alto Networks.
Analysts reported that growth in core practices has accelerated into the mid-teens percentage range, supporting BTIG’s outlook. The firm projects the company will exit fiscal fourth-quarter 2026 with pro-forma revenue growth of nearly 17% year-over-year, followed by sustained growth of 16% or more in fiscal 2027.
Palo Alto Networks’ stock was trading at $339.90 as of the latest data, reflecting an 84.5% gain over the past year. The company’s price-to-earnings ratio stands at 295, while revenue grew 19.5% over the last twelve months. Options market data indicates potential stock movement of 8.6% around the upcoming earnings release, scheduled for September 1.
BTIG’s rating follows a series of upward revisions from peers. Benchmark raised its price target to $400, JPMorgan increased its target to $384, BofA Securities maintained a Buy rating with a $420 target, and Cantor Fitzgerald reiterated an Overweight rating with a $425 target. Recent acquisitions, including CyberArk and Chronosphere, were noted as contributing to the company’s product roadmap, alongside initiatives such as the Frontier AI Critical Defense Program, which integrates AI-driven vulnerability discovery with network-level virtual patching.
