Deutsche Bank analyst Brad Zelnick maintained a Buy rating on Palo Alto Networks (PANW – Research Report) on June 3 and set a price target of $517.00. The company’s shares closed last Friday at $495.22.
According to TipRanks.com, Zelnick is a top 100 analyst with an average return of 16.8% and a 69.1% success rate. Zelnick covers the Technology sector, focusing on stocks such as ZoomInfo Technologies, Palantir Technologies, and ServiceNow.
Currently, the analyst consensus on Palo Alto Networks is a Strong Buy with an average price target of $636.67, representing a 25.6% upside. In a report issued on May 20, BMO Capital also reiterated a Buy rating on the stock with a $615.00 price target.
Based on Palo Alto Networks’ latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $1.39 billion and GAAP net loss of $73.2 million. In comparison, last year the company earned revenue of $1.07 billion and had a GAAP net loss of $145 million.
Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PANW in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
California-based Palo Alto Networks, Inc., founded in 2005, is a global cybersecurity leader. The company provides network security solutions to enterprises, service providers, and government entities.
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