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Analysts Offer Insights on Technology Companies: Palo Alto Networks (PANW) and RingCentral (RNG)

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Palo Alto Networks (PANWResearch Report) and RingCentral (RNGResearch Report).

Palo Alto Networks (PANW)

In a report released yesterday, Gray Powell from BTIG reiterated a Buy rating on Palo Alto Networks, with a price target of $240.00. The company’s shares closed last Friday at $165.32.

According to TipRanks.com, Powell is a 4-star analyst with an average return of 5.3% and a 51.6% success rate. Powell covers the Technology sector, focusing on stocks such as CrowdStrike Holdings, Tenable Holdings, and ForgeRock Inc.

Currently, the analyst consensus on Palo Alto Networks is a Strong Buy with an average price target of $226.27, a 37.9% upside from current levels. In a report issued on November 10, Loop Capital Markets also upgraded the stock to Buy with a $200.00 price target.

See Insiders’ Hot Stocks on TipRanks >>

RingCentral (RNG)

BTIG analyst Matthew VanVliet maintained a Hold rating on RingCentral on November 10. The company’s shares closed last Friday at $40.12, close to its 52-week low of $28.00.

According to TipRanks.com, VanVliet has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -13.6% and a 31.3% success rate. VanVliet covers the Technology sector, focusing on stocks such as Zoom Video Communications, Instructure Holdings, and FiscalNote Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for RingCentral with a $52.50 average price target, which is a 43.1% upside from current levels. In a report issued on November 10, Needham also maintained a Hold rating on the stock.

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