KeyBanc Remains a Buy on Palo Alto Networks

By Ryan Adsit

KeyBanc analyst Rob Owens reiterated a Buy rating on Palo Alto Networks (NYSEArca: PANW) yesterday and set a price target of $170. The company’s shares closed yesterday at $138.67.

According to TipRanks.com, Owens is a 5-star analyst with an average return of 16.8% and a 66.7% success rate. Owens covers the Technology sector, focusing on stocks such as Barracuda Networks, SecureWorks Corp, and Citrix Systems.

Currently, the analyst consensus on Palo Alto Networks is Moderate Buy and the average price target is $164.17, representing a 18.4% upside.

In a report issued on November 3, Jefferies also reiterated a Buy rating on the stock with a $168 price target.

The company has a one-year high of $165.69 and a one-year low of $107.31. Currently, Palo Alto Networks has an average volume of 1.42M.

Based on the recent corporate insider activity of 63 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.