Movement Alert｜Palo Alto Networks Rises 3.07% in Pre-Market Trading, Oppenheimer Sees Q4 Recurring Revenue on Track as Institutions Raise Targets

Market Focus08-05 17:19

On August 5, Palo Alto Networks rose 3.07% in pre-market trading, trading at $377.15/share, with turnover of $6.704 million. The move was driven by an Oppenheimer research note affirming the company is positioned to meet its fiscal Q4 Next-Generation Security annual recurring revenue (NGS-ARR) guidance.

Oppenheimer estimates more than 60% year-over-year growth in NGS-ARR ahead of the September 1 earnings release, citing positive channel checks, accelerating platform consolidation deals, and strong momentum from Cortex XSIAM, Prisma SASE, and Prisma AIRS products. For fiscal 2027, the brokerage expects initial in-line guidance that sets up a potential beat. Meanwhile, multiple Wall Street firms have recently raised price targets, including Bank of America to $420, Citi to $400, Needham to $425, Tigress to $430, and Arete to $433. Additionally, AT&T expanded its partnership with the company to launch AI-driven security offerings, and Google Cloud also initiated collaboration. Within the Systems Software sector, peer CrowdStrike gained 1.55%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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