Palo Alto Networks jumps 4.5% as BTIG raises target to $425

Shares of Palo Alto Networks climbed 5.1% during the afternoon session on September 29, 2026, and finished the day up 4.5% at $391.64. The stock reached $391.70 during trading, sitting close to its 52-week high of $396 reached in August 2026.

The rally came after research firm BTIG raised its price target on the cybersecurity provider to $425 from $404 and reiterated a Buy rating following discussions with management. BTIG analyst Gray Powell cited growth potential from Chronosphere, CyberArk, and Prisma AIRS, projecting pro forma revenue growth above 17%.

Palo Alto Networks also drew support after Nvidia launched its Open Agent Safety Platform, designed to govern and secure artificial intelligence agents across compute systems from testing to deployment. Nvidia named Palo Alto Networks as one of the industry leaders collaborating on the safety initiative.

The cybersecurity company has experienced volatile trading, logging 24 moves greater than 5% over the past year. Three days earlier, the shares fell 3.1% amid broader market debates about whether high sector valuation multiples could sustain sharp artificial intelligence-fueled gains. Even so, the stock has gained 118% since the beginning of the year, turning a $1,000 investment made five years ago into $4,934.