10:32 AM EDT, 08/16/2024 (MT Newswires) -- Palo Alto Networks ( PANW ) faces a focus on the fiscal-year strategy for its integrated cybersecurity platform with Q4 results on Monday, Wedbush said Friday in a note.

The company "continues to be one of our favorite cyber security names to own over the next year despite some near-term issues related to the platformization strategy," Wedbush said. "While not expecting major fireworks" from Q4 results on Monday, "we view the seeds of growth are being planted for a very important FY25," the report said.

The company faces a transition period in the next few quarters to set the "right foundation" for an integration platform, the report said.

For Monday's report, "the Street numbers and the company's guidance remain hittable to slightly beatable," Wedbush said. The firm expects Q4 earnings of $1.41 a share on revenue of $2.16 billion.

Wedbush maintained its outperform rating and $375 price target on the stock.

Palo Alto's shares fell 2.7% in recent Friday trading.

Price: 334.09, Change: -9.18, Percent Change: -2.67