Palo Alto Networks Inc. (NYSE:PANW) received a $178.00 target price from analysts at Piper Jaffray Cos. in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the network technology company’s stock. Piper Jaffray Cos.’s price objective points to a potential upside of 25.79% from the company’s previous close.

Several other research analysts have also weighed in on PANW. Cleveland Research lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 10th. Vetr lowered shares of Palo Alto Networks from a “strong-buy” rating to a “buy” rating and set a $138.42 price objective on the stock. in a research note on Monday, August 15th. Morgan Stanley reiterated an “overweight” rating and issued a $185.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, August 17th. Barclays PLC set a $184.00 price objective on shares of Palo Alto Networks and gave the company a “buy” rating in a research note on Friday, August 19th. Finally, Nomura reiterated a “buy” rating and issued a $200.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $180.45.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

Palo Alto Networks (NYSE:PANW) opened at 141.51 on Thursday. The firm’s market cap is $12.71 billion. Palo Alto Networks has a 12-month low of $111.09 and a 12-month high of $194.73. The company’s 50 day moving average is $152.25 and its 200 day moving average is $140.32.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Monday, November 21st. The network technology company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The firm had revenue of $398.10 million for the quarter, compared to analyst estimates 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 for the quarter was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. On average, equities analysts anticipate that Palo Alto Networks will post $2.78 earnings per share for the current year.

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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 value of $3,812,574.67. Following the sale, the chief executive officer now directly owns 540,880 shares in the company, valued at $78,043,575.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steffan Tomlinson sold 2,332 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $148.98, for a total transaction of $347,421.36. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in Palo Alto Networks during the second quarter worth about $2,381,000. Tocqueville Asset Management L.P. increased its stake in Palo Alto Networks by 7.4% in the second quarter. Tocqueville Asset Management L.P. now owns 83,440 shares of the network technology company’s stock worth $10,233,000 after buying an additional 5,785 shares during the period. Essex Investment Management Co. LLC increased its stake in Palo Alto Networks by 3.8% in the second quarter. Essex Investment Management Co. LLC now owns 84,320 shares of the network technology company’s stock worth $10,341,000 after buying an additional 3,116 shares during the period. Trillium Asset Management LLC increased its stake in Palo Alto Networks by 8.4% in the second quarter. Trillium Asset Management LLC now owns 117,742 shares of the network technology company’s stock worth $14,440,000 after buying an additional 9,134 shares during the period. Finally, Penserra Capital Management LLC increased its stake in Palo Alto Networks by 24.2% in the second quarter. Penserra Capital Management LLC now owns 223,416 shares of the network technology company’s stock worth $27,400,000 after buying an additional 43,521 shares during the period. Institutional investors own 82.82% of the company’s stock.

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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