After BMO Capital and UBS gave Palo Alto Networks (NYSE: PANW) a Buy rating last month, the company received another Buy, this time from Evercore ISI. Analyst Kenneth Talanian maintained a Buy rating on Palo Alto Networks yesterday and set a price target of $270. The company’s shares opened today at $225.25.
Talanian observed:
“We view these announcements as incremental improvements that should help keep new and existing customers interested in the Palo Alto platform. See within/below for more details on each of the announcements.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 18.9% and a 83.3% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Symantec Corp, and Check Point.
Palo Alto Networks has an analyst consensus of Strong Buy, with a price target consensus of $242.63.
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Based on Palo Alto Networks’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $656 million and GAAP net loss of $38.3 million. In comparison, last year the company had a GAAP net loss of $34.9 million.
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Palo Alto Networks, Inc. engages in the provision of network security solutions to enterprises, service providers, and government entities. It specializes in network security functions which include threat protection, firewall, intrusion detection system, intrusion prevention system and uniform resource locator filtering.
