Palo Alto Networks Inc. (NYSE:PANW) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.61-0.63 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.63. The company issued revenue guidance of $426-432 million, compared to the consensus revenue estimate of $439.28 million.

A number of equities research analysts recently weighed in on the company. RBC Capital Markets restated an outperform rating and issued a $175.00 price target (down previously from $185.00) on shares of Palo Alto Networks in a research note on Wednesday, August 31st. Argus reiterated a buy rating and set a $205.00 price objective on shares of Palo Alto Networks in a research report on Saturday, September 3rd. Piper Jaffray Cos. reiterated an overweight rating and set a $170.00 price objective (up previously from $167.00) on shares of Palo Alto Networks in a research report on Wednesday, August 31st. Imperial Capital reiterated an outperform rating and set a $190.00 price objective on shares of Palo Alto Networks in a research report on Thursday, September 1st. Finally, Maxim Group lowered their price objective on Palo Alto Networks from $215.00 to $185.00 and set a buy rating on the stock in a research report on Wednesday, August 31st. Seven investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $181.48.

Palo Alto Networks Inc. (NYSE:PANW) opened at 161.06 on Tuesday. Palo Alto Networks Inc. has a 12 month low of $111.09 and a 12 month high of $194.73. The stock’s market cap is $14.63 billion. The company’s 50 day moving average price is $154.11 and its 200 day moving average price is $140.29.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Monday, November 21st. The network technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business earned $398.10 million during the quarter, compared to analyst estimates of $400.20 million. Palo Alto Networks had a negative return on equity of 34.28% and a negative net margin of 16.39%. Palo Alto Networks’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 EPS. Equities analysts forecast that Palo Alto Networks Inc. will post $2.78 EPS for the current fiscal year.

In other news, Director Daniel J. Warmenhoven sold 1,950 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $153.75, for a total value of $299,812.50. Following the completion of the transaction, the director now owns 530 shares of the company’s stock, valued at approximately $81,487.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nir Zuk sold 103,152 shares of the stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $159.36, for a total value of $16,438,302.72. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new position in shares of Palo Alto Networks during the second quarter valued at about $237,000. GAM Holding AG raised its position in shares of Palo Alto Networks by 32.6% in the second quarter. GAM Holding AG now owns 2,890 shares of the network technology company’s stock valued at $354,000 after buying an additional 710 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Palo Alto Networks during the second quarter valued at about $1,251,000. Trexquant Investment LP purchased a new position in shares of Palo Alto Networks during the second quarter valued at about $1,361,000. Finally, Reliance Trust Co. of Delaware raised its position in shares of Palo Alto Networks by 175.6% in the second quarter. Reliance Trust Co. of Delaware now owns 6,485 shares of the network technology company’s stock valued at $795,000 after buying an additional 4,132 shares in the last quarter. 82.82% of the stock is owned by hedge funds and other institutional investors.

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.

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