Robert W. Baird reiterated their average rating on shares of Palo Alto Networks (NYSE:PANW) in a research note released on Thursday morning, AnalystRatings.com reports. Robert W. Baird currently has a $275.00 price objective on the network technology company’s stock.
A number of other research analysts also recently commented on PANW. Wells Fargo & Co reiterated a hold rating on shares of Canada Goose in a research note on Thursday, May 30th. Raymond James reiterated an outperform rating and set a $36.00 price objective on shares of Zymeworks in a research note on Thursday, May 30th. Barclays upgraded shares of Encompass Health from an equal weight rating to an overweight rating and increased their price objective for the company from $68.00 to $70.00 in a research note on Thursday, May 30th. Northland Securities reiterated a hold rating and set a $240.00 price objective on shares of Palo Alto Networks in a research note on Thursday, May 30th. Finally, Jefferies Financial Group reiterated a buy rating and set a GBX 1,370 ($17.90) price objective on shares of in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $263.03.
PANW opened at $216.94 on Thursday. The company’s fifty day moving average price is $205.69. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of -394.44, a price-to-earnings-growth ratio of 10.65 and a beta of 0.91. Palo Alto Networks has a twelve month low of $160.08 and a twelve month high of $260.63. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.86 and a current ratio of 1.86.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Wednesday, May 29th. The network technology company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.06). Palo Alto Networks had a negative net margin of 2.30% and a positive return on equity of 5.42%. The company had revenue of $726.60 million for the quarter, compared to the consensus estimate of $704.89 million. During the same quarter last year, the company earned $0.99 earnings per share. The company’s revenue was up 28.0% compared to the same quarter last year. Analysts forecast that Palo Alto Networks will post 0.87 earnings per share for the current year.
In related news, Director Mark D. Mclaughlin sold 42,850 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $246.78, for a total value of $10,574,523.00. Following the sale, the director now owns 208,071 shares of the company’s stock, valued at approximately $51,347,761.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $197.17, for a total transaction of $7,886,800.00. Following the completion of the sale, the director now directly owns 245,221 shares in the company, valued at approximately $48,350,224.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,172 shares of company stock worth $44,058,169. Corporate insiders own 3.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Alpha Omega Wealth Management LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $26,000. Manchester Capital Management LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $26,000. C J Advisory Inc acquired a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $30,000. Cable Hill Partners LLC grew its stake in shares of Palo Alto Networks by 226.1% in the 1st quarter. Cable Hill Partners LLC now owns 150 shares of the network technology company’s stock worth $37,000 after purchasing an additional 104 shares during the last quarter. Finally, Arrow Financial Corp acquired a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $40,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.
About Palo Alto Networks
Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.
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