Palo Alto Networks (NASDAQ:PANW) confirmed a data breach after attackers used stolen OAuth tokens from the Salesloft Drift compromise to access its Salesforce Inc (NYSE:CRM) system.
PANW is trading near recent highs. See what is driving the move here.
The attackers exfiltrated business contact details, sales records and support case comments but did not compromise any products, services, or internal systems.
The breach was part of a larger supply-chain campaign, tracked by Google’s Threat Intelligence team as UNC6395, that targeted Salesforce environments to steal sensitive credentials like Amazon.com Inc (NASDAQ:AMZN) Amazon Web Services keys, VPN logins and Snowflake (NYSE:SNOW) tokens, Bleeping Computer reported on Tuesday.
Also Read: Palo Alto’s AI Momentum Make It A Top Cybersecurity Pick, Analyst Says
Benzinga contacted Palo Alto Networks’ investor team for their take on the report and is awaiting a response.
Attackers used custom Python tools, Tor for obfuscation and log deletion techniques to evade detection.
Palo Alto Networks revoked tokens, rotated credentials and disabled the Drift integration, urging all affected companies to investigate logs, audit integrations, and rotate secrets immediately.
The Salesloft attack has impacted several major organizations, including Alphabet Inc.’s (NASDAQ:GOOGL) Google, Zscaler (NASDAQ:ZS), Cisco Systems Inc (NASDAQ:CSCO), and Adidas. It marks a significant escalation in Salesforce data theft campaigns linked to ShinyHunters tactics.
What Do Analysts Think of Palo Alto Networks Stock?
Palo Alto Networks’ stock gained almost 5% year-to-date. Wall Street analysts reaffirmed bullish views on the company after it beat fourth-quarter estimates and issued strong guidance.
Rosenblatt’s Catharine Trebnick, BMO’s Keith Bachman and Truist’s Junaid Siddiqui raised price targets, citing strength in next-gen security ARR, platform momentum and a clear path to $15 billion ARR. Scotiabank’s Patrick Colville called Palo Alto one of software’s best long-term cybersecurity stories.
Guggenheim’s John DiFucci raised his forecast but kept a Sell, warning RPO duration clouds growth visibility, while Stephens and Raymond James stayed Neutral. Most firms, including Goldman Sachs, Piper Sandler and RBC Capital, maintained Buy or Outperform ratings, highlighting record RPO, margin expansion and resilient demand for cybersecurity. Today, Morgan Stanley maintained an Overweight rating and raised the price target to $216.
PANW Price Action: Palo Alto Networks is trading down 0.28% at $189.98 at publication on Tuesday.
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