Palo Alto Networks Gets a Buy Rating from RBC Capital

By Austin Angelo

RBC Capital analyst Ross MacMillan reiterated a Buy rating on Palo Alto Networks (NYSEArca: PANW) on November 12 and set a price target of $159. The company’s shares closed yesterday at $138.81.

According to TipRanks.com, MacMillan is a top 25 analyst with an average return of 21.9% and a 79.7% success rate. MacMillan covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Intralinks Holdings, and Verint Systems Inc.

Currently, the analyst consensus on Palo Alto Networks is Moderate Buy and the average price target is $164.17, representing a 18.3% upside.

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

Based on Palo Alto Networks’ latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $509 million and GAAP net loss of $38.2 million. In comparison, last year the company earned revenue of $398 million and had a GAAP net loss of $61.8 million.

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.