Palo Alto Networks Inc. (NYSE:PANW) had its price target decreased by equities researchers at Sanford C. Bernstein from $210.00 to $200.00 in a report released on Tuesday. The firm currently has an “outperform” rating on the network technology company’s stock. Sanford C. Bernstein’s target price points to a potential upside of 43.17% from the stock’s current price.

A number of other brokerages also recently issued reports on PANW. Royal Bank Of Canada decreased their price objective on Palo Alto Networks from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday. RBC Capital Markets reduced their price target on Palo Alto Networks from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday. BTIG Research reiterated a “buy” rating and issued a $190.00 price target on shares of Palo Alto Networks in a report on Tuesday. Barclays PLC reduced their price target on Palo Alto Networks from $200.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, JMP Securities reduced their price target on Palo Alto Networks from $180.00 to $175.00 and set a “market outperform” rating on the stock in a report on Tuesday. Seven equities research 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 stock. The company presently has a consensus rating of “Buy” and an average target price of $180.23.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

Palo Alto Networks (NYSE:PANW) opened at 139.69 on Tuesday. The stock’s market cap is $12.54 billion. The stock has a 50 day moving average price of $153.01 and a 200-day moving average price of $140.31. Palo Alto Networks has a 1-year low of $111.09 and a 1-year high of $194.73.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Monday, November 21st. The network technology company reported $0.55 earnings per share (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 period in the prior year, the business posted $0.35 earnings per share. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. On average, equities analysts expect that Palo Alto Networks will post $2.78 EPS for the current year.

In other news, CEO Mark D. Mclaughlin sold 26,423 shares of Palo Alto Networks stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $144.29, for a total transaction of $3,812,574.67. Following 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 filing with the SEC, which can be accessed through this link. Also, Director Carl M. Eschenbach sold 894 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $159.08, for a total transaction of $142,217.52. Following the sale, the director now directly owns 2,940 shares in the company, 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 hedge funds have recently added to or reduced their stakes in PANW. Adage Capital Partners GP L.L.C. purchased a new stake in Palo Alto Networks during the first quarter valued at approximately $5,710,000. Envestnet Asset Management Inc. raised its stake 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. raised its stake 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 purchased a new stake in shares of Palo Alto Networks during the first quarter worth about $441,000. Finally, First Republic Investment Management Inc. raised its stake 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. 82.82% of the stock is currently owned by hedge funds and other 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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