Palo Alto Networks price target raised to $414 from $395 at BTIG

BTIG raised the firm’s price target on Palo Alto Networks (PANW) to $414 from $395 and keeps a Buy rating on the shares. The company reported a mixed Q1 with solid headline metrics relative to its forecast but a fractionally increased full-year revenue outlook, the analyst tells investors in a research note. BTIG adds that Palo Alto’s earnings call was also confusing regarding the exact contribution of the QRadar acquisition to results, though it notes that even backing out the deal, the company would have beaten estimates.