BTIG analyst Gray Powell lowered the firm’s price target on Palo Alto Networks to $259 from $307 but keeps a Buy rating on the shares ahead of its earnings. The Q4 checks for the company look “solid”, but Palo Alto is facing a bigger-than-expected deceleration in firewall appliance sales the next twelve months, the analyst tells investors in a research note. The reason the company is reporting after market close on Friday is because it plans to announce a more pronounced shift towards SASE and cloud at its annual sales kick-off the week of 8/21, the firm added.
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