ValuEngine upgraded shares of Palo Alto Networks, Inc. (NYSE:PANW) from a sell rating to a hold rating in a research note published on Saturday morning.
Several other research analysts have also recently issued reports on the stock. Jefferies Group LLC upgraded shares of Palo Alto Networks from a hold rating to a buy rating and upped their target price for the company from $130.00 to $150.00 in a report on Friday, May 19th. FBN Securities cut shares of Palo Alto Networks from an outperform rating to a sector perform rating and lowered their target price for the company from $135.00 to $115.00 in a report on Monday, April 17th. BMO Capital Markets lowered their target price on shares of Palo Alto Networks from $132.00 to $126.00 and set an outperform rating for the company in a report on Friday, April 21st. BidaskClub cut shares of Palo Alto Networks from a buy rating to a hold rating in a report on Thursday, July 6th. Finally, OTR Global restated a positive rating on shares of Palo Alto Networks in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-seven have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $150.94.
Shares of Palo Alto Networks (NYSE:PANW) opened at 131.43 on Friday. Palo Alto Networks has a 1-year low of $107.31 and a 1-year high of $165.69. The stock’s 50 day moving average is $134.92 and its 200 day moving average is $127.90. The firm’s market capitalization is $12.07 billion.
Palo Alto Networks (NYSE:PANW) last issued its earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share (EPS) for the quarter, beating the 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 analysts’ expectations of $412.11 million. During the same quarter in the prior year, the business posted $0.42 EPS. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities analysts predict that Palo Alto Networks will post $2.59 earnings per share for the current year.
In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in PANW. Vanguard Group Inc. boosted its stake in Palo Alto Networks by 3.6% in the second quarter. Vanguard Group Inc. now owns 7,262,069 shares of the network technology company’s stock valued at $971,738,000 after buying an additional 254,836 shares in the last quarter. Renaissance Technologies LLC boosted its stake in 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. Clearbridge Investments LLC boosted its stake in Palo Alto Networks by 11.3% in the first quarter. Clearbridge Investments LLC now owns 1,888,116 shares of the network technology company’s stock valued at $212,753,000 after buying an additional 191,475 shares in the last quarter. American Century Companies Inc. boosted its stake in Palo Alto Networks by 512.7% in the second quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock valued at $233,811,000 after buying an additional 1,462,162 shares in the last quarter. Finally, CI Global Investments Inc. boosted its stake in Palo Alto Networks by 2.4% in the second quarter. CI Global Investments Inc. now owns 1,617,837 shares of the network technology company’s stock valued at $216,483,000 after buying an additional 37,597 shares in the last quarter. 80.25% of the stock is currently 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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