In a report released yesterday, Saket Kalia from Barclays maintained a Buy rating on Palo Alto Networks (PANW), with a price target of $565.00. The company’s shares closed last Tuesday at $377.86, close to its 52-week high of $403.00.
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 18.7% and a 61.2% success rate. Kalia covers the Technology sector, focusing on stocks such as Nuance Communications, Ping Identity Holding, and CrowdStrike Holdings.
Palo Alto Networks has an analyst consensus of Strong Buy, with a price target consensus of $437.08, representing a 15.6% upside. In a report issued on February 8, BTIG also maintained a Buy rating on the stock with a $460.00 price target.
See today’s analyst top recommended stocks >>
Based on Palo Alto Networks’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $946 million and GAAP net loss of $92.2 million. In comparison, last year the company earned revenue of $817 million and had a GAAP net loss of $73.7 million.
Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PANW in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Palo Alto Networks, Inc. engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 01, 2005 and is headquartered in Santa Clara, CA.
Read More on PANW:
