FBN Securities analyst Shebly Seyrafi raised the price target on Palo Alto Networks (NASDAQ: PANW) to $330.00 (from $200.00) while maintaining a Outperform rating.

The analyst comments "We retain our Outperform rating on PANW and raise our PT from $200 to $330 to reflect strong FQ3 results and multiple expansion in the software and cybersecurity spaces. This was altogether a strong report, but the strong stock move into the report (over 60% in a month) might result in some profit taking today. We have corrected our model."