Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $420.00

Palo Alto Networks (PANW) is a network security company that provides cybersecurity solutions to businesses and organizations worldwide. The company's products and services include firewalls, intrusion prevention systems, identity and access management, and cloud security solutions.

On Thursday, equities research analysts at Royal Bank of Canada raised their price target for PANW stock from $375.00 to $420.00 in a research note issued to investors. The firm currently has an "overweight" rating on the network technology company's stock, which means they believe that PANW is undervalued and has the potential for outperformance.

Royal Bank of Canada's price objective would suggest a potential return on investment (ROI) of approximately 12.5% from the current stock price of $370.00. This ROI calculation is based on the difference between the new price target and the current stock price, divided by the current stock price.

It's worth noting that analysts' price targets are not always accurate and can be influenced by a variety of factors such as market conditions, company performance, and broader economic trends. Additionally, analysts may have different opinions on the value of a particular stock, which can lead to differing price targets.