PANW Price Targets Up: Citi, Goldman Sachs on AI Security

Wall Street is showing strong confidence in Palo Alto Networks, with both Citi and Goldman Sachs raising their price targets. This comes amid expectations of continued growth in AI-driven security demand. Citi increased its price target to $340 from $210, maintaining a 'Buy' rating. Goldman Sachs also lifted its target to $330 from $224, reiterating a 'Buy' rating after the company's Q3 earnings beat. They highlighted AI's role in driving increased security spending. Despite this positive outlook, PANW shares are trading lower after hours, down 2.3% following a 5.64% drop in the regular session. However, retail sentiment on Stocktwits remains 'extremely bullish', and message volume is 'extremely high', with a 1,583% increase over the past seven days. The stock has gained nearly 50% year-to-date. This news suggests that AI is becoming a significant factor in the cybersecurity market.