Palo Alto Networks (PANW): New Buy Recommendation for This Technology Giant

By Jason Carr

Robert W. Baird analyst Jonathan Ruykhaver reiterated a Buy rating on Palo Alto Networks (PANWResearch Report) today and set a price target of $275. The company’s shares closed last Monday at $222.46.

According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 19.5% and a 69.5% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Carbon Black Inc, and Varonis Systems.

Palo Alto Networks has an analyst consensus of Strong Buy, with a price target consensus of $264.55, which is a 22.5% upside from current levels. In a report issued on August 11, RBC Capital also assigned a Buy rating to the stock with a $300 price target.

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The company has a one-year high of $260.63 and a one-year low of $160.08. Currently, Palo Alto Networks has an average volume of 1.27M.

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Palo Alto Networks, Inc. engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan.