Calls of the Day: Palo Alto Networks and Spotify

Palo Alto Networks - Jefferies raises Palo Alto Networks' price target to $235 from $225 [1] - Palo Alto Networks' net security ARR jumped 34% last quarter [1] - Palo Alto Networks' free cash flow was up by 25% last quarter [1] - There is a rumor that Palo Alto Networks is looking to possibly acquire SentinelOne [1] Spotify - Oppenheimer upgraded Spotify to outperform with a price target of $800 [2] - Spotify has many tailwinds ahead, including gross margin leverage, free cash flow generation, share buybacks, and free tier monetization [3] - Spotify reported 12% year-over-year subscriber growth in Q1, and the trend is expected to continue [3] - Spotify is converting free tier users into paid subscribers and expanding into new territories [4] - Spotify has 675 million active users [5] - Spotify is rolling out a super fan version, and the free version with ads is performing well [5]