Palo Alto Networks, Inc. (PANW) Given a $155.00 Price Target by Piper Jaffray Companies Analysts
Palo Alto Networks, Inc. (NYSE:PANW) received a $155.00 target price from investment analysts at Piper Jaffray Companies in a report released on Sunday. The firm currently has a “buy” rating on the network technology company’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 10.44% from the stock’s current price.
Several other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Palo Alto Networks from a “hold” rating to a “sell” rating in a research note on Monday. BidaskClub downgraded Palo Alto Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Northland Securities set a $175.00 target price on Palo Alto Networks and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Morgan Stanley upgraded Palo Alto Networks from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $150.00 to $185.00 in a research note on Tuesday, October 10th. Finally, Stephens restated an “overweight” rating and issued a $165.00 target price (up previously from $155.00) on shares of Palo Alto Networks in a research note on Tuesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirty have issued a buy rating to the company. Palo Alto Networks has an average rating of “Buy” and a consensus target price of $160.33.
Shares of Palo Alto Networks (NYSE PANW) traded up $1.35 during trading on Friday, hitting $140.35. The stock had a trading volume of 2,626,700 shares, compared to its average volume of 1,741,269. Palo Alto Networks has a 1 year low of $107.31 and a 1 year high of $165.69. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.69.
Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the 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 19.72%. The business had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $487.53 million. During the same period in the prior year, the business earned $0.50 earnings per share. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. equities analysts expect that Palo Alto Networks will post -0.5 earnings per share for the current fiscal year.
In related news, insider Nir Zuk sold 146,000 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $149.86, for a total transaction of $21,879,560.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Mark Anderson sold 44,429 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $143.10, for a total value of $6,357,789.90. Following the transaction, the president now directly owns 176,290 shares of the company’s stock, valued at $25,227,099. The disclosure for this sale can be found here. In the last ninety days, insiders sold 284,744 shares of company stock valued at $42,239,296. Corporate insiders own 4.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Pinebridge Investments L.P. purchased a new stake in Palo Alto Networks during the third quarter valued at approximately $2,229,000. OxFORD Asset Management LLP purchased a new stake in Palo Alto Networks during the third quarter valued at approximately $835,000. Westfield Capital Management Co. LP raised its position in Palo Alto Networks by 229.3% during the third quarter. Westfield Capital Management Co. LP now owns 285,691 shares of the network technology company’s stock valued at $41,168,000 after purchasing an additional 198,937 shares during the period. Formula Growth Ltd. raised its position in Palo Alto Networks by 28.3% during the third quarter. Formula Growth Ltd. now owns 95,752 shares of the network technology company’s stock valued at $13,798,000 after purchasing an additional 21,100 shares during the period. Finally, KBC Group NV raised its position in Palo Alto Networks by 45.4% during the third quarter. KBC Group NV now owns 54,117 shares of the network technology company’s stock valued at $7,798,000 after purchasing an additional 16,901 shares during the period. Institutional investors and hedge funds own 77.50% 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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