Piper Sandler analyst Rob Owens reiterated an Overweight rating and $265.00 price target on Palo Alto Networks (NASDAQ: PANW).

The analyst commetned: "We recently hosted Hamza Fodderwala, senior vice president of investor relations & strategic finance at PANW for a series of investor meetings throughout Europe. Most conversations focused on AI, with both the TAM expansion opportunity alongside the potential disintermediation and longer-term existential risk associated with advancements of the capability playing center stage. PANW’s enterprise leadership and broad reach of control points (FW, SASE, end-user, identity) position it well to lead in both securing AI and leveraging AI across its security stack. We remain buyers on shares and continue to view it as a top idea in cybersecurity."

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Shares of Palo Alto Networks closed at $155.73 yesterday.