Goldman Sachs Group Begins Coverage on Palo Alto Networks (NYSE:PANW)

Goldman Sachs Group started coverage on shares of Palo Alto Networks (NYSE:PANW) in a research report report published on Tuesday morning, Briefing.com Automated Import reports. The firm issued a buy rating and a $295.00 price objective on the network technology company’s stock.

PANW has been the topic of a number of other research reports. ValuEngine upgraded shares of Palo Alto Networks from a hold rating to a buy rating in a report on Friday, November 1st. BMO Capital Markets cut their price target on shares of Palo Alto Networks from $250.00 to $245.00 and set an outperform rating on the stock in a report on Thursday, September 5th. Bank of America cut their price target on shares of Palo Alto Networks from $307.00 to $275.00 and set a buy rating on the stock in a report on Tuesday, August 20th. Wells Fargo & Co cut their price target on shares of Palo Alto Networks from $300.00 to $275.00 and set an overweight rating on the stock in a report on Thursday, September 5th. Finally, Robert W. Baird set a $275.00 price target on shares of Palo Alto Networks and gave the company a buy rating in a report on Sunday, September 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Palo Alto Networks currently has a consensus rating of Buy and an average target price of $262.06.

Shares of NYSE PANW traded up $1.49 during midday trading on Tuesday, reaching $247.00. The company’s stock had a trading volume of 908,243 shares, compared to its average volume of 954,418. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.90. The company has a 50 day moving average price of $219.86 and a 200 day moving average price of $215.74. Palo Alto Networks has a one year low of $160.08 and a one year high of $260.63. The company has a market cap of $23.59 billion, a price-to-earnings ratio of 392.06 and a beta of 0.99.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Wednesday, September 4th. The network technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). Palo Alto Networks had a positive return on equity of 4.82% and a negative net margin of 2.82%. The business had revenue of $805.80 million during the quarter, compared to the consensus estimate of $803.56 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. Research analysts anticipate that Palo Alto Networks will post -0.05 earnings per share for the current fiscal year.

In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $210.66, for a total value of $2,527,920.00. Following the transaction, the executive vice president now owns 924,695 shares in the company, valued at approximately $194,796,248.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kathleen Bonanno sold 1,610 shares of the company’s stock in a transaction that occurred on Sunday, October 20th. The shares were sold at an average price of $214.74, for a total transaction of $345,731.40. Following the completion of the transaction, the chief financial officer now owns 46,636 shares in the company, valued at approximately $10,014,614.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,610 shares of company stock worth $16,437,971. Company insiders own 2.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. First Allied Advisory Services Inc. grew its position in Palo Alto Networks by 25.0% in the third quarter. First Allied Advisory Services Inc. now owns 3,894 shares of the network technology company’s stock worth $787,000 after acquiring an additional 779 shares in the last quarter. Cetera Advisors LLC grew its position in Palo Alto Networks by 32.4% in the third quarter. Cetera Advisors LLC now owns 1,401 shares of the network technology company’s stock worth $283,000 after acquiring an additional 343 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in shares of Palo Alto Networks by 4.4% during the 3rd quarter. Cetera Advisor Networks LLC now owns 2,915 shares of the network technology company’s stock worth $592,000 after buying an additional 122 shares during the period. Trillium Asset Management LLC boosted its holdings in shares of Palo Alto Networks by 8.7% during the 3rd quarter. Trillium Asset Management LLC now owns 106,050 shares of the network technology company’s stock worth $21,616,000 after buying an additional 8,529 shares during the period. Finally, Goelzer Investment Management Inc. boosted its holdings in shares of Palo Alto Networks by 0.9% during the 3rd quarter. Goelzer Investment Management Inc. now owns 9,143 shares of the network technology company’s stock worth $1,864,000 after buying an additional 85 shares during the period. 78.63% of the stock is owned by institutional investors.

Palo Alto Networks Company Profile

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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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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