Palo Alto Networks’ (PANW) Neutral Rating Reaffirmed at UBS AG
UBS AG reissued their neutral rating on shares of Palo Alto Networks, Inc. (NYSE:PANW) in a report published on Friday. The firm currently has a $146.00 target price on the network technology company’s stock, up from their previous target price of $140.00.
A number of other research firms have also recently issued reports on PANW. BidaskClub upgraded Palo Alto Networks from a strong sell rating to a sell rating in a research note on Thursday, August 17th. Vetr cut Palo Alto Networks from a strong-buy rating to a hold rating and set a $137.50 target price on the stock. in a research note on Thursday, June 1st. Citigroup Inc. reiterated a buy rating and issued a $168.00 target price (up from $160.00) on shares of Palo Alto Networks in a research note on Friday. BTIG Research reiterated a buy rating and issued a $155.00 target price on shares of Palo Alto Networks in a research note on Thursday, June 1st. Finally, Cowen and Company reiterated an outperform rating and issued a $165.00 target price (up from $150.00) on shares of Palo Alto Networks in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Palo Alto Networks has a consensus rating of Buy and a consensus target price of $155.12.
Shares of Palo Alto Networks (PANW) traded up 10.54% during trading on Friday, reaching $146.67. 8,179,740 shares of the company’s stock were exchanged. The company’s 50-day moving average is $133.61 and its 200 day moving average is $126.54. Palo Alto Networks has a 52 week low of $107.31 and a 52 week high of $165.69. The stock’s market capitalization is $13.47 billion. Palo Alto Networks also saw some unusual options trading on Thursday. Traders purchased 13,736 put options on the company. This represents an increase of 559% compared to the average volume of 2,084 put options.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by $0.92. The company had revenue of $509 million during the quarter, compared to the consensus estimate of $487.53 million. Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.08%. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 earnings per share. On average, analysts forecast that Palo Alto Networks will post $3.27 earnings per share for the current year.
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In related news, Director James J. Goetz sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $137.97, for a total value of $4,139,100.00. Following the completion of the sale, the director now owns 271,645 shares of the company’s stock, valued at approximately $37,478,860.65. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.80% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. American Century Companies Inc. raised its stake in Palo Alto Networks by 512.7% in the second quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock valued at $233,811,000 after buying an additional 1,462,162 shares during the period. Harbour Capital Advisors LLC raised its stake in Palo Alto Networks by 13,115.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock valued at $8,760,000 after buying an additional 1,163,306 shares during the period. Northern Trust Corp raised its stake in Palo Alto Networks by 109.9% in the second quarter. Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock valued at $152,883,000 after buying an additional 598,115 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Palo Alto Networks by 5,177.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 496,610 shares of the network technology company’s stock valued at $55,958,000 after buying an additional 487,200 shares during the period. Finally, Hunt Lane Capital LP bought a new stake in Palo Alto Networks during the first quarter valued at $42,818,000. Hedge funds and other institutional investors own 77.05% of the company’s stock.
About Palo Alto Networks
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its 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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