Palo Alto Networks Inc. (NYSE:PANW) had its price target cut by Royal Bank Of Canada from $175.00 to $170.00 in a report issued on Tuesday. They currently have an outperform rating on the network technology company’s stock.

PANW has been the topic of a number of other research reports. Vetr downgraded Palo Alto Networks from a strong-buy rating to a buy rating and set a $178.24 price objective on the stock. in a report on Monday, October 3rd. Goldman Sachs Group Inc. restated a buy rating on shares of Palo Alto Networks in a research note on Friday, September 30th. Pacific Crest restated an overweight rating and set a $190.00 price target on shares of Palo Alto Networks in a research note on Monday, August 29th. Rosenblatt Securities assumed coverage on Palo Alto Networks in a research note on Monday, September 12th. They set a buy rating and a $175.00 price target on the stock. Finally, Wells Fargo & Co. restated an outperform rating on shares of Palo Alto Networks in a research note on Monday, September 26th. Seven 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’s stock. Palo Alto Networks currently has an average rating of Buy and a consensus price target of $180.23.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

Shares of Palo Alto Networks (NYSE:PANW) traded down 0.194% on Tuesday, reaching $139.459. The company’s stock had a trading volume of 851,103 shares. Palo Alto Networks has a 1-year low of $111.09 and a 1-year high of $194.73. The stock has a 50-day moving average price of $153.57 and a 200-day moving average price of $140.31. The company’s market capitalization is $12.52 billion.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data 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. Palo Alto Networks had a negative return on equity of 35.75% and a negative net margin of 16.83%. The business had revenue of $398.10 million for the quarter, compared to the consensus estimate of $400.20 million. During the same quarter in the prior year, the business posted $0.35 EPS. The business’s revenue for the quarter was up 34.0% on a year-over-year basis. On average, equities research analysts forecast that Palo Alto Networks will post $2.78 EPS for the current year.

In other news, Director Daniel J. Warmenhoven sold 1,950 shares of the company’s stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $159.61, for a total transaction of $311,239.50. Following the completion of the transaction, the director now directly owns 530 shares of the company’s stock, valued at $84,593.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark D. Mclaughlin sold 26,423 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 540,880 shares of the company’s stock, valued at $78,043,575.20. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position 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 valued at $743,954,000 after buying an additional 353,873 shares during the period. Jennison Associates LLC raised its position in shares of Palo Alto Networks by 11.4% in the third quarter. Jennison Associates LLC now owns 5,312,533 shares of the network technology company’s stock worth $846,446,000 after buying an additional 543,980 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Palo Alto Networks by 30.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,871,628 shares of the network technology company’s stock worth $776,196,000 after buying an additional 1,137,120 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Palo Alto Networks by 11.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,161,892 shares of the network technology company’s stock worth $344,454,000 after buying an additional 229,110 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of 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 period. 82.82% of the stock is owned by institutional investors.

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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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