Rosenblatt Securities Reaffirms Their Buy Rating on Palo Alto Networks (PANW)

By Ryan Adsit

In a report released today, Yun Kim from Rosenblatt Securities maintained a Buy rating on Palo Alto Networks (PANWResearch Report), with a price target of $270.00. The company’s shares closed last Thursday at $229.50.

According to TipRanks.com, Kim is a 5-star analyst with an average return of 14.7% and a 65.0% success rate. Kim covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Manhattan Associates, and Pegasystems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Palo Alto Networks with a $239.86 average price target, a 2.5% upside from current levels. In a report issued on May 11, Oppenheimer also maintained a Buy rating on the stock with a $225.00 price target.

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Based on Palo Alto Networks’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $817 million and GAAP net loss of $73.7 million. In comparison, last year the company earned revenue of $711 million and had a GAAP net loss of $2.6 million.

Based on the recent corporate insider activity of 99 insiders, corporate insider sentiment is neutral on the stock.

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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. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 01, 2005 and is headquartered in Santa Clara, CA.