Stifel analyst Adam Borg reiterated a Buy rating and $225.00 price target on Palo Alto Networks (NASDAQ: PANW).

He said, "Palo reports F2Q25 results on Thursday, February 13th, with a call at 4:30PM ET. Following Palo’s January quarter, we spoke with several cybersecurity VARs/SIs for an updated view on overall cyber demand trends along with a closer look at Palo-specific results.Checks were generally positive on the cyber spending demand environment as well as Palo's January quarter, with one VAR above expectations and two in line. This builds upon Palo's stronger results in our C4Q24 Cybersecurity VAR Survey.Net/net, we believe our checks, along with solid prints from Fortinet and Check Point, point to an upside print. Turning to guidance, we expect FY25 NGS ARR and revenue guidance to be once again raised at least in line with the beat, and think FY25 RPO guidance, which was just reaffirmed during F1Q25 earnings, will need to go higher for the stock to trade up following the print."

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Shares of Palo Alto Networks closed at $195.49 yesterday.