This Just In: Palo Alto Networks Stock Upgraded
Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...
2017 has been a bit of a nail-biter for investors in Palo Alto Networks (NYSE: PANW) stock. Entering the year at $135 a share in January, the network firewall specialist was hit almost immediately by news of a sales miss in February. That fiscal Q2 result shook investor confidence, and sent Palo Alto's stock price down 25% in a week.
It wasn't long before Palo Alto got back up on the horse, though. By fiscal Q3 (which for Palo Alto came in May), the company was back to its old ways, beating analyst estimates on both the top and bottom lines. Palo Alto repeated the feat with August's fiscal Q4 report. In each case, Palo Alto stock leapt in response to the good news, rising 17% after the Q3 report, then another 14% after Q4 -- recovering all its losses from earlier in the year, and returning the stock to positive territory along the way.
Source: Fool.com
Palo Alto Networks Stock
With 80 Buy predictions and not a single Sell prediction Palo Alto Networks is an absolute favorite of our community.
With a target price of 322 € there is a slightly positive potential of 6.96% for Palo Alto Networks compared to the current price of 301.05 €.
