Cowen & Co. Believes Palo Alto Networks (NYSEArca: PANW) Still Has Room to Grow

By Jason Carr

Cowen & Co. analyst Gregg Moskowitz reiterated a Buy rating on Palo Alto Networks (NYSEArca: PANW) today and set a price target of $180. The company’s shares opened today at $159.89, close to its 52-week high of $161.49.

According to TipRanks.com, Moskowitz is a 5-star analyst with an average return of 16.3% and a 67.7% success rate. Moskowitz covers the Technology sector, focusing on stocks such as Endurance International, Citrix Systems, and Microsoft Corp.

Currently, the analyst consensus on Palo Alto Networks is Strong Buy and the average price target is $177.05, representing a 10.7% upside.

In a report issued on February 5, KeyBanc also reiterated a Buy rating on the stock with a $190 price target.

Based on Palo Alto Networks’ latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $506 million and GAAP net loss of $64 million. In comparison, last year the company earned revenue of $423 million and had a GAAP net loss of $60.6 million.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock.

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Palo Alto Networks, Inc. provides network security solutions to enterprises, service providers, and government entities. It specializes in network security functions which include threat protection, firewall, intrusion detection system, intrusion prevention system and uniform resource locator filtering.