Palo Alto Networks, Inc. (PANW) Given Consensus Recommendation of “Buy” by Analysts

Palo Alto Networks, Inc. (NYSE:PANW) has been assigned an average recommendation of “Buy” from the forty-seven research firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $163.24.

PANW has been the subject of a number of research analyst reports. Morgan Stanley upgraded Palo Alto Networks from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $150.00 to $185.00 in a report on Tuesday, October 10th. William Blair restated a “market perform” rating on shares of Palo Alto Networks in a report on Tuesday, September 5th. Dougherty & Co restated a “buy” rating and set a $165.00 target price (up from $155.00) on shares of Palo Alto Networks in a report on Tuesday, September 5th. Royal Bank of Canada raised their target price on Palo Alto Networks from $145.00 to $159.00 and gave the company an “outperform” rating in a report on Friday, September 1st. Finally, Summit Redstone upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Tuesday, September 5th.

Shares of Palo Alto Networks (NYSE:PANW) traded up $1.38 on Friday, hitting $144.87. The company’s stock had a trading volume of 1,106,298 shares, compared to its average volume of 1,758,690. Palo Alto Networks has a twelve month low of $107.31 and a twelve month high of $157.65.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. The business had revenue of $505.50 million during the quarter, compared to analysts’ expectations of $489.36 million. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. sell-side analysts anticipate that Palo Alto Networks will post -0.37 earnings per share for the current fiscal year.

In other Palo Alto Networks news, CMO Rene Bonvanie sold 16,596 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $151.83, for a total transaction of $2,519,770.68. Following the completion of the sale, the chief marketing officer now directly owns 95,584 shares in the company, valued at $14,512,518.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Mark Anderson sold 44,429 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $143.10, for a total value of $6,357,789.90. Following the sale, the president now owns 176,290 shares of the company’s stock, valued at $25,227,099. The disclosure for this sale can be found here. Insiders sold 343,213 shares of company stock valued at $50,953,421 over the last quarter. Insiders own 4.80% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Capstone Asset Management Co. boosted its position in shares of Palo Alto Networks by 1.3% in the second quarter. Capstone Asset Management Co. now owns 2,284 shares of the network technology company’s stock worth $306,000 after buying an additional 30 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Palo Alto Networks by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 16,971 shares of the network technology company’s stock valued at $2,271,000 after purchasing an additional 43 shares during the last quarter. WESPAC Advisors SoCal LLC boosted its holdings in Palo Alto Networks by 2.4% in the second quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the network technology company’s stock valued at $284,000 after purchasing an additional 50 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Palo Alto Networks by 2.2% in the second quarter. Nordea Investment Management AB now owns 2,607 shares of the network technology company’s stock valued at $349,000 after purchasing an additional 55 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Palo Alto Networks by 1.2% in the second quarter. Principal Financial Group Inc. now owns 5,590 shares of the network technology company’s stock valued at $748,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.

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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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