Palo Alto Networks price target lowered to $177 from $210 at Northland

Northland lowered the firm’s price target on Palo Alto Networks (PANW) to $177 from $210 and keeps a Market Perform rating on the shares. Strong software firewall sales drove an in-line quarter and Q4 guidance largely met consensus across key metrics, says the analyst, who tempers longer-term growth expectations and no longer believes it is merited to project acceleration above the 17% to 19% growth rate Palo Alto had intimated at the beginning of the platformization process.