Palo Alto Networks (PANW) shares jumped during intraday trading Tuesday after the cybersecurity company 澳洲幸运5官⭕方﷽开奖结果体彩网:reported stronger-than-expected earnings amid its ongoing "platformization" efforts.

Shares of Palo A💙lto Networks rose ne🥃arly 9% Tuesday morning, contributing to their more than 25% year-to-date gain.

Several analysts lifted their 澳洲幸运5官方开奖结果体彩网:price targets on Palo Alto's stock following the strong quarterly results. They noted the company's platformization-related sales strength, early 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) gains, and the impact of last month's CrowdStrike (CRWD) outage.

Platform Consolidation Strategy Paying Off

Palo Alto Networks provided investors with updates about its platformizaton strategy, where it💛 consolidates its cybersecurity services on its pl♕atform and bundles offers to support sales. The company also noted early gains from its integration of AI.

Jefferies analysts lifted their target for the stock to $400 from $365, saying that "most importantly" the company "continues to take share via consolidation."

Citi analysts, who raised their target to $395 from $385, highlighted that Palo Alto Networks showed investors "tangible platformization proof points."

The cybersecurity provider reported that platformization momentum accelerated during the fiscal fourth quarter with the number of consolidated deals up 50%.

Citi Calls Palo Alto 'GenAI Story With Real Teeth'

Palo Alto Networks' early gains from AI integration also caught analysts' attention.

J.P. Morgan analysts said the company showcased "early momentum in AI" with its AI-infused cybersecurity offerings. The analysts lifted their price t๊arget to $♔387 from $365.

Citi analysts said Palo Alto Networks represents a "GenAI story with real-teeth."

CrowdStrike Outage May Translate to Ne♛w Customers

Analysts 澳洲幸运5官方开奖结果体彩网:have indicated that Palo Alto Networks along with other competitors like SentinelOne (S) could gain customers leaving CrowdStrike after a faulty update last month caused a global tech outage and 澳洲幸运5官方开奖结果体彩网:cost clients billions.

"The recent outage has caused a number of customers to reevaluate their options," Palo Alto Networks CEO Nikesh Arora said in the company's earnings call.