Palo Alto Networks (PANW) – Analysts’ Weekly Ratings Updates

Palo Alto Networks (NYSE: PANW) recently received a number of ratings updates from brokerages and research firms:

  • 9/12/2018 – Palo Alto Networks was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Palo Alto fourth-quarter fiscal 2018 results benefitted from strong growth in SaaS and emerging products. Shares have outperformed the industry on a year-to-date basis. The company is benefiting from healthy demand environment, new product launches and increasing adoption of its next-generation security platforms. Customer wins coupled with expansion of the existing customer base are the other positives. We believe that the company’s acquisitions synergies and strategic partnerships will continue to boost the top line. Nonetheless, competition from several small and big players remains concern. Near-term prospects for Palo Alto are challenging as changing customer spending behaviour has recently hit several other players in this space.”
  • 9/11/2018 – Palo Alto Networks was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $264.00 price target on the stock. According to Zacks, “Palo Alto fourth-quarter fiscal 2018 results benefitted from strong growth in SaaS and emerging products. Shares have outperformed the industry on a year-to-date basis. The company is benefiting from healthy demand environment, new product launches and increasing adoption of its next-generation security platforms. Customer wins coupled with expansion of the existing customer base are the other positives. We believe that the company’s acquisitions synergies and strategic partnerships will continue to boost the top line. Nonetheless, competition from several small and big players remains concern. Near-term prospects for Palo Alto are challenging as changing customer spending behaviour has recently hit several other players in this space.”
  • 9/10/2018 – Palo Alto Networks had its price target raised by analysts at Argus to $275.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Credit Suisse Group AG from $175.00 to $185.00. They now have an “underperform” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at JPMorgan Chase & Co. to $282.00. They now have an “overweight” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Morgan Stanley from $240.00 to $262.00. They now have an “overweight” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Barclays PLC from $245.00 to $263.00. They now have an “overweight” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at KeyCorp from $245.00 to $275.00. They now have an “overweight” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Piper Jaffray Companies to $250.00. They now have an “overweight” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at CIBC from $235.00 to $275.00. They now have an “outperform” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Oppenheimer Holdings Inc. from $235.00 to $275.00. They now have an “outperform” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its “outperform” rating reaffirmed by analysts at William Blair.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at JMP Securities from $240.00 to $270.00. They now have an “outperform” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at UBS Group AG from $212.00 to $232.00. They now have a “neutral” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $260.00 price target on the stock, up previously from $222.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Citigroup Inc from $237.00 to $270.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Rosenblatt Securities to $280.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Deutsche Bank AG to $265.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Maxim Group from $262.00 to $274.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Stifel Nicolaus from $240.00 to $260.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Monness Crespi & Hardt from $235.00 to $265.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Jefferies Financial Group Inc to $267.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its “buy” rating reaffirmed by analysts at Evercore ISI. They now have a $270.00 price target on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Royal Bank of Canada to $250.00.
  • 9/5/2018 – Palo Alto Networks had its price target raised by analysts at Raymond James from $240.00 to $254.00. They now have an “outperform” rating on the stock.
  • 8/7/2018 – Palo Alto Networks was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Palo Alto faces stiff competition from several big and small players in the security application market. Further, over the past few years, the demand for IT security has been on the rise driven by increasing awareness and cyber-attacks, making the market more attractive for new players. Near-term prospects for Palo Alto are not promising as changing customer spending behavior has recently hit several other players in this space. The decelerating revenue growth trend makes us slightly cautious about Palo Alto's near-term performance.  However, customer wins coupled with expansion of the existing customer base is a positive. Shares outperformed the industry on a year-to-date basis.”
  • 8/3/2018 – Palo Alto Networks was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.

Shares of PANW traded down $0.38 during trading hours on Thursday, reaching $225.77. 1,034,229 shares of the company’s stock traded hands, compared to its average volume of 1,368,340. The firm has a market capitalization of $21.55 billion, a price-to-earnings ratio of -410.49, a price-to-earnings-growth ratio of 16.13 and a beta of 0.83. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.93 and a current ratio of 1.93. Palo Alto Networks Inc has a twelve month low of $135.85 and a twelve month high of $239.50.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, September 6th. The network technology company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The company had revenue of $658.10 million for the quarter, compared to analyst estimates of $634.14 million. Palo Alto Networks had a negative return on equity of 4.12% and a negative net margin of 6.51%. The company’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. analysts forecast that Palo Alto Networks Inc will post 0.61 EPS for the current fiscal year.

In related news, EVP Nir Zuk sold 30,000 shares of Palo Alto Networks stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $234.70, for a total transaction of $7,041,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark D. Mclaughlin sold 40,000 shares of Palo Alto Networks stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $235.24, for a total value of $9,409,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 260,468 shares of company stock worth $56,336,885. 4.80% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Banco de Sabadell S.A purchased a new position in Palo Alto Networks in the 2nd quarter worth about $103,000. CIBC Private Wealth Group LLC increased its stake in Palo Alto Networks by 2,475.0% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 515 shares of the network technology company’s stock worth $106,000 after purchasing an additional 495 shares in the last quarter. Trust Co. of Vermont increased its stake in Palo Alto Networks by 107.7% in the 1st quarter. Trust Co. of Vermont now owns 671 shares of the network technology company’s stock worth $121,000 after purchasing an additional 348 shares in the last quarter. LeJeune Puetz Investment Counsel LLC purchased a new position in Palo Alto Networks in the 2nd quarter worth about $123,000. Finally, Peregrine Capital Management LLC purchased a new position in Palo Alto Networks in the 2nd quarter worth about $177,000. 80.61% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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