Stocks to Watch Today: PANW, FactSet Research, and TXN
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Stocks to Watch Today: PANW, FactSet Research, and TXN

Palo Alto Networks surged on new analyst coverage, FactSet impressed with its quarterly results, and Texas Instruments rallied following a key partnership.
Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.

Three notable technology companies saw significant developments that impacted their stock prices in a day of mixed market performance. Analysts gave Palo Alto Networks (NASDAQ: PANW) a new price target, FactSet (NYSE: FDS) reported strong earnings and raised guidance, and Texas Instruments (NASDAQ: TXN) announced a strategic collaboration in the electric vehicle sector.

Palo Alto Networks Gains on New Coverage

Shares of Palo Alto Networks (NASDAQ: PANW) rose 2.84% to $319.88 after DA Davidson initiated coverage with a Buy rating and a price target of $380.

The cybersecurity firm was added to DA Davidson’s Best-of-Breed Bison initiative, highlighting its significant potential in the expanding cybersecurity market. Analysts noted Palo Alto Networks’ three platforms offer unmatched vendor consolidation, with the company currently holding approximately 7% of the total addressable market, which is nearing $200 billion.

The stock has shown impressive growth, with a year-to-date return of 8.47% and a three-year return of 158.16%.

FactSet Surges on Earnings Beat and Raised Outlook

FactSet Research Systems (NYSE: FDS) saw its stock climb 3.64% to $423.20 following strong fiscal 2024 third-quarter results. The financial data and analytics company reported adjusted earnings per share of $4.37, surpassing analysts’ estimates of $3.90. Revenue rose 4.3% year-over-year to $552.7 million, with organic revenue up 4.5%.

FactSet raised its full-year adjusted EPS outlook to $16.00-$16.40 from $15.60-$16.00, although it slightly lowered its revenue guidance. The company’s performance reflects its robust position in the financial services sector, with a three-year return of 33.52% and a five-year return of 47.11%.

Texas Instruments Partners for EV Innovation

Texas Instruments (NASDAQ: TXN) shares increased 2.00% to $196.61 following the announcement of a long-term collaboration with Delta Electronics to advance electric vehicle onboard charging and power solutions.

The partnership will establish a joint innovation laboratory in Pingzhen, Taiwan, aiming to optimize power density, performance, and size for EVs. The collaboration leverages Texas Instruments’ semiconductor expertise and Delta’s power management experience, with a goal to reduce charger size by 30% while achieving up to 95% power conversion efficiency.

This strategic move aligns with the growing demand for electric vehicle technologies, reflected in the stock’s year-to-date return of 16.25% and five-year return of 99.11%.

Disclaimer: The author does not hold or have a position in any securities discussed in the article.