Palo Alto Networks (PANW): New Buy Recommendation for This Technology Giant

In a report released today, Nehal Chokshi from Northland Securities reiterated a Buy rating on Palo Alto Networks (PANW), with a price target of $285.00. The company’s shares closed last Thursday at $229.50.

According to, Chokshi is a 4-star analyst with an average return of 5.8% and a 50.7% success rate. Chokshi covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Avid Technology, and Pure Storage.

Currently, the analyst consensus on Palo Alto Networks is a Moderate Buy with an average price target of $243.30, which is a 4.0% upside from current levels. In a report issued on May 11, Oppenheimer also maintained a Buy rating on the stock with a $225.00 price target.

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Based on Palo Alto Networks’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $817 million and GAAP net loss of $73.7 million. In comparison, last year the company earned revenue of $711 million and had a GAAP net loss of $2.6 million.

Based on the recent corporate insider activity of 99 insiders, corporate insider sentiment is neutral on the stock.

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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. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 01, 2005 and is headquartered in Santa Clara, CA.

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