DA Davidson analyst Andrew Nowinski lowered his price target on Palo Alto Networks to $210 and kept his Neutral rating after sales execution issues in Q2 saw the company miss on its product revenue results. The analyst further notes that the management does not expect product revenue growth to return until Q4, adding that while the stock could benefit from increasing subscription revenue component, product revenue remains a material portion of total. Nowinski adds that the declines "significantly" weigh on Palo Alto's overall growth and free cash flows.