Palo Alto Networks (PANW) Gets Rating Upgrade on Platformization Momentum
According to the firm, Palo Alto's early 'platformization' success should reaccelerate bookings growth and prove to be durable as Xsiam traction grows. The company's free cash flow leverage should be more consistent moving forward with annual payments.
Meanwhile, the Cyberark (CYBR) acquisition adds a high-quality asset to company's portfolio. Piper sees a favorable share setup from here.
A team of actuaries and engineers at a computer looking at the data and finding the best reinsurance solution for a client.
'We are upgrading shares to Overweight with a $225 PT. Our more favorable view is predicated on 1) early platformization success that has helped reaccelerate bookings and should prove durable as XSIAM traction grows (noting channel feedback surrounding platformization has inflected to begin CY'25), 2) more consistent FCF leverage moving forward with annual payments / PAN-FS turning to a tailwind after posing pressure over last two years, 3) the acquisition of CYBR, which simultaneously adds a very high quality asset to PANW's portfolio while filling its largest gap. Altogether, this should help PANW achieve a low-teens CAGR and improved FCF margins, creating a favorable setup from here.'
Palo Alto Networks, Inc. (NASDAQ:PANW) is a leader in AI-powered cybersecurity.
While we acknowledge the potential of PANW as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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