Palo Alto Networks (NYSE:PANW) was upgraded by investment analysts at UBS Group from a “neutral” rating to a “positive” rating in a research report issued to clients and investors on Wednesday, The Fly reports.
A number of other analysts also recently issued reports on the company. William Blair raised Palo Alto Networks from a “market perform” rating to an “outperform” rating in a report on Monday, December 4th. Zacks Investment Research downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. KeyCorp lifted their price target on Palo Alto Networks from $170.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, February 5th. Evercore ISI set a $145.00 price target on Palo Alto Networks and gave the stock a “hold” rating in a report on Thursday, November 16th. Finally, Goldman Sachs Group downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and set a $168.00 price target for the company. in a report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirty-seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $167.27.
Palo Alto Networks (NYSE PANW) opened at $161.98 on Wednesday. The stock has a market capitalization of $14,880.00, a price-to-earnings ratio of -65.85 and a beta of 1.04. Palo Alto Networks has a fifty-two week low of $107.31 and a fifty-two week high of $167.73.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06. The company had revenue of $505.50 million during the quarter, compared to the consensus estimate of $489.36 million. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. Palo Alto Networks’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 EPS. analysts expect that Palo Alto Networks will post -0.37 EPS for the current fiscal year.
In other Palo Alto Networks news, CMO Rene Bonvanie sold 16,596 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief marketing officer now owns 95,584 shares in the company, valued at approximately $14,512,518.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathleen Bonanno sold 2,831 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $150.68, for a total value of $426,575.08. Following the transaction, the chief financial officer now owns 38,716 shares in the company, valued at approximately $5,833,726.88. The disclosure for this sale can be found here. Insiders sold a total of 396,644 shares of company stock worth $59,381,588 in the last 90 days. 4.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC acquired a new position in Palo Alto Networks during the 4th quarter worth approximately $127,000. Penserra Capital Management LLC acquired a new position in Palo Alto Networks during the 3rd quarter worth approximately $162,000. Benjamin F. Edwards & Company Inc. increased its position in Palo Alto Networks by 495.2% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock worth $178,000 after purchasing an additional 1,025 shares during the period. SeaCrest Wealth Management LLC acquired a new position in Palo Alto Networks during the 4th quarter worth approximately $192,000. Finally, Commerce Bank acquired a new position in Palo Alto Networks during the 3rd quarter worth approximately $221,000. Institutional investors own 78.92% of the company’s stock.
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.
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