FBN Securities reaffirmed their sector perform rating on shares of Palo Alto Networks, Inc. (NYSE:PANW) in a research report report published on Tuesday morning. FBN Securities currently has a $155.00 target price on the network technology company’s stock, up from their previous target price of $135.00.

Several other equities research analysts have also commented on the stock. William Blair reaffirmed a market perform rating on shares of Palo Alto Networks in a research report on Tuesday. Stifel Nicolaus reaffirmed a buy rating and set a $180.00 price target on shares of Palo Alto Networks in a research report on Tuesday. Dougherty & Co reaffirmed a buy rating and set a $165.00 price target (up previously from $155.00) on shares of Palo Alto Networks in a research report on Tuesday. Summit Redstone raised shares of Palo Alto Networks from a hold rating to a buy rating and set a $120.00 price target for the company in a research report on Tuesday. Finally, Argus raised shares of Palo Alto Networks from a hold rating to a buy rating and set a $183.00 price target for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-nine have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $157.91.

Palo Alto Networks (PANW) opened at 144.03 on Tuesday. The company’s market cap is $13.23 billion. The firm’s 50-day moving average is $133.97 and its 200-day moving average is $126.23. Palo Alto Networks has a 12 month low of $107.31 and a 12 month high of $165.69.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by $0.92. Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.08%. The business had revenue of $509 million for the quarter, compared to analysts’ expectations of $487.53 million. During the same period in the previous year, the company earned $0.50 EPS. Palo Alto Networks’s revenue for the quarter was up 27.0% compared to the same quarter last year. On average, analysts anticipate that Palo Alto Networks will post $3.34 EPS for the current fiscal year.

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In other news, Director James J. Goetz sold 30,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $37,478,860.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Palo Alto Networks by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 7,262,069 shares of the network technology company’s stock worth $971,738,000 after buying an additional 254,836 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Palo Alto Networks by 16.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock worth $242,578,000 after buying an additional 307,800 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Palo Alto Networks by 11.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,888,116 shares of the network technology company’s stock worth $212,753,000 after buying an additional 191,475 shares in the last quarter. American Century Companies Inc. grew its position in shares of Palo Alto Networks by 512.7% during the 2nd quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock worth $233,811,000 after buying an additional 1,462,162 shares in the last quarter. Finally, CI Global Investments Inc. grew its position in shares of Palo Alto Networks by 2.4% during the 2nd quarter. CI Global Investments Inc. now owns 1,617,837 shares of the network technology company’s stock worth $216,483,000 after buying an additional 37,597 shares in the last quarter. 77.05% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Company Profile

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)

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