Palo Alto Networks, Inc. (PANW) Lifted to Overweight at First Analysis
First Analysis upgraded shares of Palo Alto Networks, Inc. (NYSE:PANW) from an equal weight rating to an overweight rating in a report published on Friday, Marketbeat Ratings reports. First Analysis currently has $160.00 price target on the network technology company’s stock.
PANW has been the topic of a number of other research reports. Piper Jaffray Companies set a $156.00 price objective on Palo Alto Networks and gave the stock a buy rating in a research note on Thursday, June 1st. Cowen and Company reissued an outperform rating and set a $150.00 price objective on shares of Palo Alto Networks in a research note on Thursday, May 25th. Vetr raised Palo Alto Networks from a hold rating to a buy rating and set a $140.90 price objective on the stock in a research note on Monday, July 3rd. Barclays PLC reissued an overweight rating and set a $158.00 price objective (up previously from $145.00) on shares of Palo Alto Networks in a research note on Thursday, June 1st. Finally, Gabelli raised Palo Alto Networks from a hold rating to a buy rating and set a $159.00 price objective on the stock in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-six have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $154.74.
Shares of Palo Alto Networks (PANW) traded up 10.54% during mid-day trading on Friday, reaching $146.67. The company had a trading volume of 8,179,740 shares. The stock’s 50-day moving average price is $133.61 and its 200 day moving average price is $126.54. Palo Alto Networks has a 1-year low of $107.31 and a 1-year high of $165.69. The company’s market capitalization is $13.47 billion.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by $0.92. The company had revenue of $509 million for the quarter, compared to analyst estimates of $487.53 million. Palo Alto Networks had a negative return on equity of 19.08% and a negative net margin of 12.57%. The business’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period last year, the firm posted $0.50 EPS. Equities analysts expect that Palo Alto Networks will post $3.31 EPS for the current year.
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In related news, Director James J. Goetz sold 30,000 shares of the firm’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 transaction of $4,139,100.00. Following the transaction, the director now owns 271,645 shares in the company, valued at approximately $37,478,860.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC grew its stake in Palo Alto Networks by 94.8% during the 1st quarter. Flinton Capital Management LLC now owns 9,072 shares of the network technology company’s stock worth $1,022,000 after buying an additional 4,416 shares during the last quarter. Halbert Hargrove Russell LLC grew its stake in Palo Alto Networks by 12,520.8% during the 1st quarter. Halbert Hargrove Russell LLC now owns 3,029 shares of the network technology company’s stock worth $341,000 after buying an additional 3,005 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Palo Alto Networks during the 2nd quarter worth approximately $415,000. Mogy Joel R Investment Counsel Inc. grew its stake in Palo Alto Networks by 18.6% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 28,168 shares of the network technology company’s stock worth $3,174,000 after buying an additional 4,420 shares during the last quarter. Finally, Endurance Wealth Management Inc. grew its stake in Palo Alto Networks by 33.5% during the 1st quarter. Endurance Wealth Management Inc. now owns 3,599 shares of the network technology company’s stock worth $405,000 after buying an additional 904 shares during the last quarter. 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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