Palo Alto Networks price target lowered to $215 from $225 at DA Davidson

DA Davidson analyst Rudy Kessinger lowered the firm’s price target on Palo Alto Networks (PANW) to $215 from $225 and keeps a Buy rating on the shares. The company’s CyberArk (CYBR) acquisition is “transformative” as it is filling their one big glaring void, with the most comprehensive Identity Security platform in the market, and while this deal is not without significant operational, integration, and execution risk, we believe it will give Palo Alto another leg up vs. smaller point solution providers, the analyst tells investors in a research note.