Palo Alto Networks (NYSE:PANW) had its price objective reduced by research analysts at Northland Securities from $265.00 to $245.00 in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “market perform” rating on the network technology company’s stock. Northland Securities’ target price points to a potential upside of 29.23% from the stock’s current price.
A number of other analysts have also issued reports on the company. Mizuho reduced their target price on Palo Alto Networks from $265.00 to $245.00 and set a “buy” rating for the company in a report on Tuesday. Citigroup increased their target price on Palo Alto Networks from $247.00 to $283.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. lowered Palo Alto Networks from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $284.00 to $236.00 in a report on Tuesday. DA Davidson increased their target price on Palo Alto Networks to $245.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Credit Suisse Group restated a “sell” rating and issued a $195.00 target price on shares of Palo Alto Networks in a report on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $251.88.
PANW opened at $189.58 on Tuesday. The firm has a market cap of $19.29 billion, a PE ratio of -105.32 and a beta of 0.96. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.20. The business has a fifty day simple moving average of $241.40 and a 200-day simple moving average of $225.78. Palo Alto Networks has a fifty-two week low of $187.52 and a fifty-two week high of $260.63.
Palo Alto Networks (NYSE:PANW) last released its earnings results on Monday, February 24th. The network technology company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.07. The company had revenue of $816.70 million during the quarter, compared to analyst estimates of $842.13 million. Palo Alto Networks had a negative return on equity of 2.23% and a negative net margin of 5.58%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.51 earnings per share. On average, equities research analysts anticipate that Palo Alto Networks will post -0.12 EPS for the current fiscal year.
In other Palo Alto Networks news, CAO Jean Compeau sold 1,450 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $241.29, for a total transaction of $349,870.50. Following the transaction, the chief accounting officer now directly owns 25,145 shares in the company, valued at $6,067,237.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark D. Mclaughlin sold 19,050 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $249.03, for a total value of $4,744,021.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,562 shares of company stock worth $11,132,020. Corporate insiders own 2.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PANW. BlackRock Inc. raised its position in shares of Palo Alto Networks by 4.2% during the 2nd quarter. BlackRock Inc. now owns 5,683,627 shares of the network technology company’s stock worth $1,158,096,000 after purchasing an additional 230,170 shares during the period. AdvisorNet Financial Inc grew its holdings in Palo Alto Networks by 109.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 301 shares of the network technology company’s stock worth $61,000 after buying an additional 157 shares in the last quarter. Rhumbline Advisers grew its holdings in Palo Alto Networks by 0.9% in the 3rd quarter. Rhumbline Advisers now owns 92,413 shares of the network technology company’s stock worth $18,837,000 after buying an additional 804 shares in the last quarter. Great Valley Advisor Group Inc. bought a new position in Palo Alto Networks in the 3rd quarter worth approximately $249,000. Finally, Teacher Retirement System of Texas grew its holdings in Palo Alto Networks by 15.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 81,201 shares of the network technology company’s stock worth $16,551,000 after buying an additional 10,981 shares in the last quarter. Institutional investors own 79.32% of the company’s stock.
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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