Credit Suisse Group began coverage on shares of Palo Alto Networks, Inc. (NYSE:PANW) in a research report issued on Tuesday. The firm set an “underperform” rating and a $125.00 price target on the network technology company’s stock. Credit Suisse Group’s target price would suggest a potential downside of 13.63% from the company’s previous close.

Other equities analysts have also issued reports about the stock. BidaskClub upgraded shares of Palo Alto Networks from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 17th. Vetr lowered shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating and set a $137.50 price target on the stock. in a research note on Thursday, June 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $160.00 price target on shares of Palo Alto Networks in a research note on Friday, September 1st. UBS AG set a $140.00 price target on shares of Palo Alto Networks and gave the company a “hold” rating in a research note on Tuesday, August 29th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $168.00 price target (up from $160.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-nine have given a buy rating to the stock. Palo Alto Networks presently has a consensus rating of “Buy” and an average target price of $157.91.

Palo Alto Networks (NYSE:PANW) opened at 144.73 on Tuesday. The stock has a 50 day moving average of $133.76 and a 200-day moving average of $125.97. Palo Alto Networks has a 12 month low of $107.31 and a 12 month high of $165.69. The stock’s market cap is $13.29 billion.

Palo Alto Networks (NYSE:PANW) last released its earnings results 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. Palo Alto Networks had a negative return on equity of 19.08% and a negative net margin of 12.57%. The firm had revenue of $509 million for the quarter, compared to analysts’ expectations of $487.53 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. On average, equities analysts forecast that Palo Alto Networks will post $3.33 EPS for the current fiscal year.

WARNING: This report was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & international trademark & copyright legislation. The legal version of this report can be accessed at https://www.thecerbatgem.com/2017/09/07/credit-suisse-group-initiates-coverage-on-palo-alto-networks-inc-panw.html.

In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of Palo Alto Networks stock in a transaction dated 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 in the company, valued at approximately $37,478,860.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of PANW. WFG Advisors LP grew its holdings in Palo Alto Networks by 5.9% in the 1st quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock valued at $101,000 after buying an additional 50 shares during the period. Global X Management Co. LLC grew its holdings in Palo Alto Networks by 31.9% in the 1st quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock valued at $106,000 after buying an additional 227 shares during the period. Sun Life Financial INC grew its holdings in Palo Alto Networks by 785.0% in the 2nd quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock valued at $134,000 after buying an additional 887 shares during the period. First Interstate Bank grew its holdings in Palo Alto Networks by 130.7% in the 1st quarter. First Interstate Bank now owns 1,375 shares of the network technology company’s stock valued at $155,000 after buying an additional 779 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in Palo Alto Networks by 30.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock valued at $188,000 after buying an additional 322 shares during the period. 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.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

Receive News & Stock Ratings for Palo Alto Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks Inc. and related stocks with our FREE daily email newsletter.