Palo Alto Networks Inc. (NYSE:PANW) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday. The brokerage currently has a $178.24 price objective on the network technology company’s stock. Vetr‘s price target suggests a potential upside of 14.64% from the stock’s previous close.

Several other analysts have also issued reports on PANW. Piper Jaffray Cos. restated an “overweight” rating and issued a $170.00 price objective (up from $167.00) on shares of Palo Alto Networks in a report on Wednesday, August 31st. Argus restated a “buy” rating and issued a $205.00 price objective on shares of Palo Alto Networks in a report on Saturday, September 3rd. RBC Capital Markets restated an “outperform” rating and issued a $175.00 price objective (down from $185.00) on shares of Palo Alto Networks in a report on Wednesday, August 31st. Macquarie assumed coverage on shares of Palo Alto Networks in a report on Friday, July 8th. They issued a “neutral” rating and a $139.00 price objective on the stock. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $177.00 price objective on shares of Palo Alto Networks in a report on Thursday, September 1st. Eight investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $181.48.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

Palo Alto Networks (NYSE:PANW) traded down 2.67% during mid-day trading on Tuesday, hitting $155.48. 1,635,966 shares of the company’s stock traded hands. The stock’s market cap is $14.13 billion. The firm’s 50-day moving average price is $149.50 and its 200-day moving average price is $139.56. Palo Alto Networks has a one year low of $111.09 and a one year high of $194.73.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Tuesday, August 30th. The network technology company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $400.80 million for the quarter, compared to analyst estimates of $389.90 million. Palo Alto Networks had a negative net margin of 16.39% and a negative return on equity of 34.28%. Palo Alto Networks’s revenue was up 41.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. On average, analysts forecast that Palo Alto Networks will post $2.78 EPS for the current fiscal year.

In related news, Director Carl M. Eschenbach sold 894 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $159.08, for a total transaction of $142,217.52. Following the sale, the director now owns 2,940 shares of the company’s stock, valued at $467,695.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark D. Mclaughlin sold 26,423 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $144.29, for a total value of $3,812,574.67. Following the sale, the chief executive officer now directly owns 540,880 shares in the company, valued at approximately $78,043,575.20. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC raised its stake in Palo Alto Networks by 32.3% in the second quarter. Jennison Associates LLC now owns 4,768,553 shares of the network technology company’s stock worth $584,815,000 after buying an additional 1,163,146 shares during the last quarter. Alliancebernstein L.P. raised its stake in Palo Alto Networks by 122.1% in the second quarter. Alliancebernstein L.P. now owns 2,037,537 shares of the network technology company’s stock worth $249,884,000 after buying an additional 1,120,097 shares during the last quarter. Criterion Capital Management LLC raised its stake in Palo Alto Networks by 374.5% in the second quarter. Criterion Capital Management LLC now owns 610,330 shares of the network technology company’s stock worth $74,851,000 after buying an additional 481,710 shares during the last quarter. Vanguard Group Inc. raised its stake in Palo Alto Networks by 6.2% in the second quarter. Vanguard Group Inc. now owns 6,066,172 shares of the network technology company’s stock worth $743,954,000 after buying an additional 353,873 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its stake in Palo Alto Networks by 453.2% in the second quarter. Champlain Investment Partners LLC now owns 330,550 shares of the network technology company’s stock worth $40,539,000 after buying an additional 270,795 shares during the last quarter. 80.06% of the stock is currently owned by institutional investors and hedge funds.

About Palo Alto Networks

Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s Next-Generation Firewall delivers application, user, and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

5 Day Chart for NYSE:PANW

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