Why Did Palo Alto Networks Stock Drop Today?

Palo Alto Networks stock fell 4.9% on Wednesday despite Evercore ISI analyst Peter Levine raising his price target from $320 to $415, citing strong positioning in cybersecurity and expected free cash flow growth. However, Levine's $6.5 billion FCF forecast for 2027 significantly exceeds Wall Street consensus of $5.2 billion, raising questions about valuation at 52x projected FCF if growth targets aren't met.