Oppenheimer Lifts Price Target on Palo Alto Networks, Inc. (PANW) to $275, Maintains Outperform Rating

Palo Alto Networks, Inc. (NASDAQ:PANW) is among the 10 Stocks That Will Make You Rich Over the Next Decade. On May 15, Oppenheimer analyst Ittai Kidron lifted the price target on the stock to $275 from $245 and maintained an Outperform rating.

The adjustment followed CyberArk IMPACT 2026, during which the company launched Idira, its next-generation identity security platform. According to TipRanks, Oppenheimer conducted a survey at the conference, with the results reflecting likely continued renewals and robust spending expectations.

The firm also noted that the survey’s responses indicated no signs of churn and that most respondents were either bullish or indifferent to Palo Alto Networks, Inc. (NASDAQ:PANW)’s acquisition of CyberArk in February this year. The conference reaffirmed Oppenheimer’s positive view of the company’s shift towards agentic identity protection.

Earlier on May 11, Barclays also raised its price target to $220 from $200 and reiterated an Overweight rating. The bank noted that the company had ‘strong organic checks’ and liked its positioning heading into its upcoming earnings call.

In other news, the stock has surged 48% over the past month, fueled by the April announcement of the company’s intent to acquire AI gateway startup Portkey and the completion of its acquisition of Koi, which secured a new category of protection in agentic endpoint security.

Palo Alto Networks, Inc. (NASDAQ:PANW) is a global cybersecurity company providing a broad portfolio of solutions and platforms across AI, cloud, network, identity, and security operations.

READ NEXT: 9 Best Drone Stocks to Buy According to Wall Street Analysts and 10 Best Large Cap Defense Stocks to Buy According to Hedge Funds.

Disclosure: None. Follow Insider Monkey on Google News.