Piper Jaffray analyst Andrew Nowinski initiated coverage with a Hold rating on Palo Alto Networks (PANW) today and set a price target of $270.00. The company’s shares closed last Monday at $233.07.
According to TipRanks.com, Nowinski is a 4-star analyst with an average return of 8.8% and a 51.2% success rate. Nowinski covers the Technology sector, focusing on stocks such as CyberArk Software, Check Point, and Nutanix.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Palo Alto Networks with a $265.18 average price target.
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Based on Palo Alto Networks’ latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $20.8 million. In comparison, last year the company earned revenue of $656 million and had a GAAP net loss of $38.3 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 operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan.
