Palo Alto Networks price target raised to $230 from $208 at JMP Securities

JMP Securities raised the firm’s price target on Palo Alto Networks to $230 from $208 and keeps an Outperform rating on the shares. The company reported strong Q2 results, with EPS and revenue beating consensus, bolstered by 63% NGS ARR growth, notable RPO growth of 39%, and continued achievement of GAAP profitability in the quarter, the analyst tells investors in a research note.