Citigroup Raises Palo Alto Networks (PANW) Price Target to $440

Citigroup has reaffirmed its Buy rating on Palo Alto Networks and raised its price target to $440, a 28.69% upside from the current price.

By EarningsIQ Research Desk · Published Oct 15, 2026, 9:18 PM EDT · Updated Oct 16, 2026, 11:15 PM EDT

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Citigroup raised its price target on Palo Alto Networks, Inc. ($PANW) to $440 from $410 on October 15, 2026, and rates the stock "Buy".

Since the rating, $PANW is down 7.6% to date (from the $370.27 close on Oct 15, 2026).

PANW Palo Alto Networks, Inc.

$342 +90.67% year to date

Daily close · Oct 16, 2026

Key Points

On October 15, 2026, Citigroup reiterated its Buy rating on Palo Alto Networks, raising the price target from $410 to $440.
Citigroup's $440 price target implies 28.69% upside from Palo Alto Networks, Inc.'s ($PANW) current $341.92 share price.
As of October 16, 2026, Palo Alto Networks shares were recently trading at $341.31, which is about 14.4% below the average analyst target price of $398.52.
Palo Alto Networks has a market cap of approximately $302.9 billion and reported trailing twelve-month revenue of about $11.48 billion.

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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Palo Alto Networks, Inc. alert may contain errors. Disclosures

Citigroup has reiterated its Buy rating on Palo Alto Networks, Inc. (NASDAQ: PANW) and raised its price target from $410 to $440 on October 15, 2026. This adjustment reflects Citigroup's continued confidence in the company's growth prospects.

Palo Alto Networks shares were recently trading around $341.31 on October 16, 2026. This price is about 14.4% below the average analyst target price of $398.52 and 22.4% below Citigroup's new target, suggesting a significant gap that investors may want to consider. The stock is currently below its 50-day moving average of $373.46 and near its 52-week low of $139.57, but still above the low end of its 52-week range.

Other Institutional Activity in Palo Alto Networks

Several other institutional investors have been active in Palo Alto Networks. Blackrock Inc. grew its holdings by 3,324,492 shares, ending with 75,753,509 shares valued at about $25.9 billion. Vanguard Capital Management LLC added 364,079 shares for a total of 53,129,128 shares worth approximately $18.2 billion. State Street Corporation increased its stake by 1,493,942 shares, totaling 36,979,497 shares valued at around $12.6 billion. Meanwhile, Morgan Stanley trimmed its position by 2,870,028 shares, bringing its total to 29,450,112 shares worth about $10.1 billion. Invesco Ltd. added 1,720,391 shares, totaling 25,647,946 shares valued at roughly $8.8 billion.

Palo Alto Networks, Inc. Stock Down 8.8%

Palo Alto Networks has a market capitalization of about $302.9 billion. The stock is trading below its 50-day moving average of $373.46, indicating a potential struggle for upward momentum. However, it remains above its 200-day moving average, which is a positive sign for long-term investors. The shares are currently about 21.1% below their 52-week high of $432.33, but significantly above their 52-week low of $139.57.

12-month forecast

$PANW price target

Palo Alto Networks, Inc. daily closes and this analyst's $440 target. Not advice.

Recent Earnings

Palo Alto Networks reported trailing twelve-month revenue of approximately $11.48 billion, reflecting a year-over-year revenue growth of 34.5%. The next earnings report is scheduled for November 19, 2026, which investors will be watching closely for further insights into the company's performance.

Insider Buying and Selling at Palo Alto Networks, Inc.

Recently, several insiders sold shares of Palo Alto Networks. On September 17, 2026, Director James Joseph Goetz sold 20,000 shares, valued at about $7.5 million. Chief Financial Officer Dipak Golechha sold 27,500 shares on September 24, 2026, totaling around $10.8 million. Also on September 24, Director Aparna Bawa sold 260 shares at an average price of $392.68, worth approximately $102,098. Officer Joshua D. Paul sold 400 shares on October 1, 2026, at an average price of $395.70, totaling about $158,280.

Analysts Set New Price Targets

On October 15, 2026, Citigroup maintained its Buy rating on Palo Alto Networks with a new price target of $440, up from $410. Earlier, on October 13, Wells Fargo also maintained an Overweight rating with a target of $525. BTIG kept a Buy rating with a target of $425, while TD Cowen maintained a Buy rating with a target of $440. The consensus among analysts is a Buy recommendation with a mean price target of $398.52, based on 50 analyst opinions.

About Palo Alto Networks

Palo Alto Networks, Inc. provides cybersecurity solutions across various regions, including the Americas, Europe, and Asia. It offers products such as Prisma Access and Strata Cloud Manager to help protect customers' networks and applications. The company's strong revenue growth and robust market position make it a key player in the cybersecurity industry.

Bottom Line

Investors should keep an eye on Palo Alto Networks as it approaches its next earnings date on November 19, 2026. With Citigroup's recent price target increase, the stock's performance relative to this target will be critical to watch in the coming weeks.