Oppenheimer analyst Shaul Eyal lowered his price target for Palo Alto Networks to $250 from $275 after the company's Q2 revenue of $816.7M missed the Street's $843.7 forecast despite healthy EPS of $1.19 versus the consensus' $1.12 estimate. The analyst views Palo Alto Networks' goal to become a preferred security platform vendor as slowly taking shape through traction from Prisma+Cortex on the cloud portfolio side. Eyal remains constructive on Palo Alto's long-term opportunity and maintains an Outperform rating on the shares.

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.