(Updated - February 25, 2020 4:45 AM EST)

(updating comment)

BMO Capital analyst Keith Bachman downgraded Palo Alto Networks (NYSE: PANW) from Outperform to Market Perform with a price target of $220.00 (from $248.00).

The analyst comments "We think Palo Alto is the tale of two themes. On the positive side, subscription and support revenue and billings remain steady and indicate the company’s portfolio of software solutions is gaining traction. In contrast, product revenue continues to disappoint, and we believe that ongoing risk remains based on guidance for 2HFY20. Therefore, given ongoing execution risk, we think the stock will remain range-bound."

For an analyst ratings summary and ratings history on Palo Alto Networks click here. For more ratings news on Palo Alto Networks click here.

Shares of Palo Alto Networks closed at $237.33 yesterday.

Analyst Comments Analyst PT Change Downgrades

RBC Capital Downgrades Palo Alto Networks (PANW) to Sector PerformFebruary 25, 2020 6:08 AM UPDATE: JPMorgan Downgrades Palo Alto Networks (PANW) to NeutralFebruary 25, 2020 4:39 AM Raymond James Downgrades Palo Alto Networks (PANW) to Market PerformFebruary 25, 2020 4:39 AM UPDATE: Deutsche Bank Downgrades Palo Alto Networks (PANW) to HoldFebruary 25, 2020 4:39 AM Stocks with Implied Volatility MovementFebruary 25, 2020 3:23 AM After-Hours Stock Movers 02/24: (MRNA) (MMSI) (NLS) Higher; (PANW) (EVER) (SHAK) Lower (more...)February 24, 2020 5:57 PM Palo Alto Networks (PANW) Tops Q2 EPS by 7c, Guidance MissesFebruary 24, 2020 4:22 PM Form 8-K Palo Alto Networks Inc For: Feb 24February 24, 2020 4:21 PM Palo Alto Networks Reports Fiscal Second Quarter 2020 Financial ResultsFebruary 24, 2020 4:15 PM Palo Alto Networks (PANW) option implied volatility and volume increases into EPS and outlookFebruary 24, 2020 11:14 AM Palo Alto Networks Introduces Cortex XSOAR, Redefines Security Orchestration and Automation with Integrated Threat Intel ManagementFebruary 24, 2020 8:00 AM