Palo Alto Networks target adjusted for stock split at at Loop Capital

Loop Capital lowered the firm’s price target on Palo Alto Networks (PANW) to $180 from $385 and keeps a Hold rating on the shares following the company’s 2-for-1 share split as well as on adjustment for “modestly lower” free cash flows in outer years. The firm’s latest conversations with industry contacts indicate that the overall cybersecurity budget for 2025 should increase more than it did last year, but there remains a lot of uncertainty regarding the current pricing environment, which was in part driven by Palo Alto’s own decision to scale its aggressive platformization/bundling program, the analyst tells investors in a research note.