BidaskClub upgraded shares of Palo Alto Networks, Inc. (NYSE:PANW) from a sell rating to a hold rating in a research note published on Thursday morning.

PANW has been the topic of several other research reports. Oppenheimer Holdings, Inc. restated an outperform rating and issued a $173.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 23rd. Piper Jaffray Companies set a $146.00 target price on Palo Alto Networks and gave the company a buy rating in a research report on Friday, August 25th. Cowen and Company restated an outperform rating and issued a $165.00 target price (up previously from $150.00) on shares of Palo Alto Networks in a research report on Thursday, June 1st. Deutsche Bank AG restated a hold rating and issued a $135.00 target price (up previously from $125.00) on shares of Palo Alto Networks in a research report on Thursday, June 1st. Finally, Susquehanna Bancshares Inc initiated coverage on Palo Alto Networks in a research report on Wednesday, June 7th. They issued a neutral rating and a $145.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-nine have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $157.91.

Shares of Palo Alto Networks (NYSE:PANW) opened at 144.03 on Thursday. The firm has a 50-day moving average price of $133.97 and a 200-day moving average price of $126.23. Palo Alto Networks has a 1-year low of $107.31 and a 1-year high of $165.69. The company’s market cap is $13.23 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 consensus estimate of $0.79 by $0.92. The firm had revenue of $509 million during the quarter, compared to analysts’ expectations of $487.53 million. Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The business’s revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. On average, equities analysts expect that Palo Alto Networks will post $3.34 EPS for the current year.

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In other news, Director James J. Goetz sold 30,000 shares of the business’s 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 directly owns 271,645 shares of the company’s stock, 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 the SEC website. 4.80% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of PANW. American Century Companies Inc. lifted its holdings in shares of Palo Alto Networks by 512.7% in the 2nd quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock valued at $233,811,000 after purchasing an additional 1,462,162 shares during the last quarter. Harbour Capital Advisors LLC lifted its holdings in shares of Palo Alto Networks by 13,115.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock valued at $8,760,000 after purchasing an additional 1,163,306 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Palo Alto Networks by 109.9% in the 2nd quarter. Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock valued at $152,883,000 after purchasing an additional 598,115 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Palo Alto Networks by 5,177.5% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 496,610 shares of the network technology company’s stock valued at $55,958,000 after purchasing an additional 487,200 shares during the last quarter. Finally, Hunt Lane Capital LP purchased a new stake in shares of Palo Alto Networks in the 1st quarter valued at about $42,818,000. 77.05% of the stock is owned by institutional investors and hedge funds.

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)

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