SunTrust analyst Joel Fishbein lowered his price target on Palo Alto Networks to $230 after its second consecutive quarter of "disappointing" product revenue results in Q2 and a lowered guidance for the year. The analyst intends to question the management whether this trend is due to a transition in the strategy or a "more concerning" change in the company's business. Fishbein still keeps his Buy rating on Palo Alto Networks, noting that the company's "next-gen security" should contribute to its profitability as its sales become a higher component of the mix.

Technology Analysts provide a recap of Palo Alto Networks 3Q reported earnings on an Analyst/Industry conference call to be held on May 20 at 9 am. Webcast Link

Sees Q4 revenue $1.53B-$1.55B; Total billings in the range of $2.32B-$2.35B, representing year over year growth of between 24%-26%.

Reports Q3 revenue $1.4B, consensus $1.36B.

Notable companies reporting after the market close, with earnings consensus, include Applied Materials (AMAT), consensus $1.90... Palo Alto (PANW), consensus $1.68... Ross Stores (ROST), consensus $1... V.F. Corp. (VFC), consensus 46c... Deckers Outdoor (DECK), consensus $1.32.