Palo Alto Networks Gets a Buy Rating from Northland Securities

By Carrie Williams

In a report released today, Robert Breza from Northland Securities reiterated a Buy rating on Palo Alto Networks (NYSEArca: PANW), with a price target of $175. The company’s shares closed yesterday at $132.69.

According to TipRanks.com, Breza is a 3-star analyst with an average return of 1.7% and a 48.2% success rate. Breza covers the Technology sector, focusing on stocks such as Barracuda Networks, Coupa Software Inc, and CommVault Systems.

Currently, the analyst consensus on Palo Alto Networks is Strong Buy and the average price target is $157.31, representing a 18.6% upside.

In a report issued on August 25, Piper Jaffray also reiterated a Buy rating on the stock with a $146 price target.

Based on Palo Alto Networks’ latest earnings report for the quarter ending April 30, the company posted quarterly revenue of $432 million and GAAP net loss of $60.9 million. In comparison, last year the company earned revenue of $401 million and had a GAAP net loss of $54.5 million.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock.

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. It offers network security functions which include threat protection, firewall, intrusion detection system, intrusion prevention system and uniform resource locator filtering.