Palo Alto Networks Analysts Increase Their Forecasts After Upbeat Q4 Earnings

Palo Alto Networks, Inc. PANW reported better-than-expected fourth-quarter earnings and issued strong billings outlook for the year.

Palo Alto posted quarterly earnings of $1.44 per share, beating market estimates of $1.28 per share. The company’s quarterly sales came in at $1.95 billion versus estimates of $1.96 billion.

These analysts made changes to their price targets on Palo Alto Networks following earnings announcement.

Deutsche Bank raised the price target on Palo Alto Networks from $225 to $270. Deutsche Bank analyst Brad Zelnick maintained a Buy rating.

Rosenblatt increased the price target on Palo Alto Networks from $250 to $290. Rosenblatt analyst Catharine Trebnick maintained a Buy rating.

JP Morgan raised the price target on Palo Alto Networks from $251 to $268. JP Morgan analyst Brian Essex maintained an Overweight rating.

Raymond James increased the price target on Palo Alto Networks from $230 to $250. Raymond James analyst Adam Tindle maintained an Outperform rating.

B of A Securities raised the price target on Palo Alto Networks from $270 to $290. B of A Securities analyst Tal Liani maintained a Buy rating.

UBS boosted the price target on Palo Alto Networks from $220 to $260. UBS analyst Roger Boyd maintained a Neutral rating.

BMO Capital boosted the price target on Palo Alto Networks from $235 to $275. BMO Capital analyst Keith Bachman maintained an Outperform rating.

RBC Capital raised the price target on Palo Alto Networks from $250 to $281. RBC Capital analyst Matthew Hedberg maintained an Outperform rating.

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