Wedbush Raises PT on Palo Alto Networks (PANW)

With more than 65% gains in May 2026, Palo Alto Networks, Inc. (NASDAQ:PANW) is one of the Best Performing Stocks in May. Recently, on June 3, Wedbush raised the price target on the stock from $300 to $340 and maintained an Outperform rating on the shares.

​The rating follows Palo Alto Networks, Inc. (NASDAQ:PANW)’s fiscal Q3 2026 earnings. During the quarter, the company posted $3 billion in revenue, reflecting 31% year-over-year growth and ahead of the consensus of $2.94 billion. The EPS of $0.85 also came in ahead of the expected $0.80.

​CEO Nikesh Arora highlighted that the bookings accelerated for the company as enterprises increasingly rely on PANW to secure their AI infrastructure. Revenue was partly boosted by the recent acquisitions of CyberArk and Chronosphere. Moreover, the Next-Generation Security ARR also grew by 60% to exceed the $8 billion mark. Notably, the remaining performance obligations grew 36% to $18.4 billion, signaling strong future revenue visibility.

​On the profitability front, the picture remained mixed on a GAAP basis, with a net loss of $177 million compared to a profit of $262 million a year ago, largely due to acquisition-related costs. However, non-GAAP net income rose to $684 million, reflecting healthy underlying business performance.

​Wedbush sees PANW’s AI-native, integrated security platform as a key competitive advantage for winning new deals. The firm has placed it as a strong pillar in its “AI 30” list of top AI-era investments.

​Palo Alto Networks, Inc. (NASDAQ:PANW) provides network security solutions to service providers, enterprises, and government entities.

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