Palo Alto Networks Inc. (NYSE:PANW)‘s stock had its “buy” rating reiterated by equities researchers at BTIG Research in a research note issued to investors on Tuesday. They presently have a $190.00 price target on the network technology company’s stock. BTIG Research’s target price points to a potential upside of 36.02% from the company’s current price.

A number of other research firms have also recently issued reports on PANW. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $177.00 target price on shares of Palo Alto Networks in a research note on Thursday, September 1st. Wunderlich reissued a “buy” rating and issued a $190.00 price target on shares of Palo Alto Networks in a research report on Wednesday, August 31st. Nomura reissued a “buy” rating and issued a $200.00 price target on shares of Palo Alto Networks in a research report on Wednesday, August 24th. Citigroup Inc. dropped their price target on shares of Palo Alto Networks from $145.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 31st. Finally, Zacks Investment Research raised shares of Palo Alto Networks from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 1st. 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. 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)

Palo Alto Networks (NYSE:PANW) opened at 139.69 on Tuesday. The company’s market capitalization is $12.54 billion. Palo Alto Networks has a 52-week low of $111.09 and a 52-week high of $194.73. The stock has a 50 day moving average of $153.01 and a 200-day moving average of $140.31.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, November 21st. The network technology company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The firm earned $398.10 million during the quarter, compared to analysts’ expectations of $400.20 million. Palo Alto Networks had a negative net margin of 16.83% and a negative return on equity of 35.75%. The company’s revenue was up 34.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. On average, equities analysts forecast that Palo Alto Networks will post $2.78 earnings per share for the current year.

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

Several large investors have recently added to or reduced their stakes in the stock. Winslow Evans & Crocker Inc. increased its stake in Palo Alto Networks by 10.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 814 shares of the network technology company’s stock valued at $100,000 after buying an additional 76 shares during the last quarter. Ayalon Holdings Ltd. increased its stake in Palo Alto Networks by 110.0% in the second quarter. Ayalon Holdings Ltd. now owns 840 shares of the network technology company’s stock valued at $102,000 after buying an additional 440 shares during the last quarter. Toronto Dominion Bank increased its stake in Palo Alto Networks by 59.3% in the third quarter. Toronto Dominion Bank now owns 774 shares of the network technology company’s stock valued at $123,000 after buying an additional 288 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Palo Alto Networks by 6.7% in the second quarter. Integrated Investment Consultants LLC now owns 1,040 shares of the network technology company’s stock valued at $128,000 after buying an additional 65 shares during the last quarter. Finally, Amica Retiree Medical Trust bought a new stake in Palo Alto Networks during the third quarter valued at approximately $139,000. 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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