On July 30, Palo Alto Networks rose 3.01% overnight, trading at $323.65/share, with turnover of $386,500. The move was driven by AT&T announcing an expanded partnership with Palo Alto Networks to jointly launch two new offerings — AT&T Dynamic Defense and AT&T SASE — integrating connectivity and security through AI-driven network visibility and threat prevention for enterprise distributed environments.

The collaboration strengthens Palo Alto Networks' position in the enterprise security market by pairing its cybersecurity platform with AT&T's connectivity infrastructure. This follows a series of bullish institutional actions, with Morgan Stanley raising its target to $387, Citi to $400, Needham to $425, and Tigress Financial to $430, all maintaining buy-equivalent ratings. The stock has gained over 100% in the past three months as the company's platformization strategy and AI-driven security demand continue to attract capital flows into the cybersecurity sector.

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