Palo Alto Networks Inc. (NYSE:PANW) had its target price lowered by stock analysts at RBC Capital Markets from $175.00 to $170.00 in a research note issued on Tuesday. The firm presently has an “outperform” rating on the network technology company’s stock. RBC Capital Markets’ target price indicates a potential upside of 21.70% from the stock’s previous close.

Several other brokerages also recently issued reports on PANW. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $177.00 price target on shares of Palo Alto Networks in a report on Thursday, September 1st. Wunderlich restated a “buy” rating and set a $190.00 price objective on shares of Palo Alto Networks in a report on Wednesday, August 31st. Nomura reiterated a “buy” rating and set a $200.00 price target on shares of Palo Alto Networks in a report on Wednesday, August 24th. Citigroup Inc. decreased their price target on Palo Alto Networks from $145.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 31st. Finally, Zacks Investment Research upgraded Palo Alto Networks from a “strong sell” rating to a “hold” rating in a report on Thursday, September 1st. Seven equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Palo Alto Networks presently has an average rating of “Buy” and an average price target of $180.23.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

Shares of Palo Alto Networks (NYSE:PANW) opened at 139.69 on Tuesday. Palo Alto Networks has a 12-month low of $111.09 and a 12-month high of $194.73. The stock has a 50 day moving average of $153.01 and a 200 day moving average of $140.31. The company’s market cap is $12.54 billion.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, November 21st. The network technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 earned $398.10 million during the quarter, compared to the consensus estimate of $400.20 million. During the same quarter last year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 34.0% on a year-over-year basis. On average, equities analysts expect that Palo Alto Networks will post $2.78 earnings per share for the current fiscal year.

In other Palo Alto Networks news, Director Daniel J. Warmenhoven sold 1,950 shares of Palo Alto Networks stock in a transaction 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 owns 530 shares in the company, valued at $84,593.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nir Zuk sold 103,152 shares of Palo Alto Networks stock in a transaction on Friday, October 7th. The shares were 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. 4.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. bought a new position in shares of Palo Alto Networks during the first quarter worth about $5,710,000. Envestnet Asset Management Inc. boosted its position in shares of Palo Alto Networks by 30.1% in the first quarter. Envestnet Asset Management Inc. now owns 22,501 shares of the network technology company’s stock worth $3,671,000 after buying an additional 5,203 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of Palo Alto Networks by 23.4% in the first quarter. Panagora Asset Management Inc. now owns 59,045 shares of the network technology company’s stock worth $9,633,000 after buying an additional 11,195 shares during the last quarter. Eachwin Capital LP bought a new position in shares of Palo Alto Networks during the first quarter worth about $441,000. Finally, First Republic Investment Management Inc. boosted its position in shares of Palo Alto Networks by 14.8% in the first quarter. First Republic Investment Management Inc. now owns 86,474 shares of the network technology company’s stock worth $14,106,000 after buying an additional 11,143 shares during the last quarter. Institutional investors and hedge funds own 82.82% of the company’s stock.

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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.

5 Day Chart for NYSE:PANW

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