ValuEngine upgraded shares of Palo Alto Networks, Inc. (NYSE:PANW) from a sell rating to a hold rating in a research report released on Tuesday, June 27th.
Several other equities analysts also recently commented on the stock. BMO Capital Markets boosted their price target on shares of Palo Alto Networks from $150.00 to $160.00 and gave the stock a market perform rating in a research note on Monday, February 27th. Robert W. Baird cut shares of Palo Alto Networks from an outperform rating to a neutral rating and decreased their price objective for the stock from $175.00 to $130.00 in a research report on Wednesday, March 1st. J P Morgan Chase & Co cut shares of Palo Alto Networks from an overweight rating to a neutral rating and reduced their price target for the company from $170.00 to $140.00 in a research report on Wednesday, March 1st. BTIG Research reduced their price target on shares of Palo Alto Networks from $190.00 to $155.00 and set a buy rating for the company in a research report on Wednesday, March 1st. Finally, JMP Securities dropped their price target on shares of Palo Alto Networks from $175.00 to $155.00 and set an outperform rating on the stock in a research note on Wednesday, March 1st. Twenty-one investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $151.00.
Shares of Palo Alto Networks (NYSE:PANW) opened at 138.66 on Tuesday. The company’s 50-day moving average price is $128.32 and its 200-day moving average price is $127.52. Palo Alto Networks has a one year low of $107.31 and a one year high of $165.69. The stock’s market cap is $12.73 billion.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.06. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The business had revenue of $431.80 million during the quarter, compared to the consensus estimate of $412.11 million. During the same quarter last year, the firm earned $0.42 EPS. The business’s revenue was up 24.9% compared to the same quarter last year. Equities research analysts anticipate that Palo Alto Networks will post $2.59 earnings per share for the current year.
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In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $137.97, for a total value of $4,139,100.00. Following the sale, the director now owns 271,645 shares of the company’s stock, valued at approximately $37,478,860.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.80% of the company’s stock.
Several large investors have recently modified their holdings of PANW. Norges Bank purchased a new stake in shares of Palo Alto Networks during the fourth quarter valued at approximately $67,046,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Palo Alto Networks by 5,177.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 496,610 shares of the network technology company’s stock valued at $55,958,000 after buying an additional 487,200 shares in the last quarter. Hunt Lane Capital LP purchased a new stake in shares of Palo Alto Networks during the first quarter valued at approximately $42,818,000. Thrivent Financial for Lutherans increased its stake in shares of Palo Alto Networks by 472.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 410,437 shares of the network technology company’s stock valued at $51,325,000 after buying an additional 338,710 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Palo Alto Networks by 16.7% in the first quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock valued at $242,578,000 after buying an additional 307,800 shares in the last quarter. Institutional investors own 80.50% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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