Palo Alto Networks Receives a Buy from Robert W. Baird

By Carrie Williams

Robert W. Baird analyst Jayson Noland reiterated a Buy rating on Palo Alto Networks (NYSEARCA: PANW) today. The company’s shares closed yesterday at $161.06.

Noland observed:

“We didn’t hear anything or see anything in the financials that dampens our positive opinion on shares of PANW .”

According to TipRanks.com, Noland is a 4-star analyst with an average return of 7.8% and a 56.3% success rate. Noland covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Riverbed Technology, and Barracuda Networks.

Currently, the analyst consensus on Palo Alto Networks is Strong Buy and the average price target is $183.36, representing a 13.8% upside.

In a report issued on November 15, Pacific Crest also reiterated a Buy rating on the stock with a $190 price target.

The company has a one year high of $194.73 and a one year low of $111.09. Currently, Palo Alto Networks has an average volume of 1.56M.

Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock. Last month, Carl Eschenbach, a Director at PANW sold 894 shares for a total of $142,209.

Palo Alto Networks, Inc. engages in the provision of network security solutions. It offers network security functions which include threat protection, firewall, intrusion detection system, intrusion prevention system and uniform resource locator filtering. The company was founded by Nir Zuk, Rajiv Batra and Yuming Mao in March 2005 and is headquartered in Santa Clara, CA.