Needham Lowers Palo Alto Networks Price Target Citing Acquisition Carrying Costs
Needham trimmed its price target on Palo Alto Networks to $200 from $230 while keeping a Buy rating, pointing to the carrying costs from recent acquisitions as the driver. The cybersecurity vendor reported organic beats for fiscal Q2 2026 and reaffirmed multi-year cash flow and next-generation security ARR goals even as several other brokerages rev…