Palo Alto Networks, Inc. (NYSE:PANW)‘s stock had its “market perform” rating reaffirmed by equities researchers at BMO Capital Markets in a note issued to investors on Friday. They presently have a $160.00 price objective on the network technology company’s stock, up from their previous price objective of $150.00. BMO Capital Markets’ price objective suggests a potential upside of 20.58% from the stock’s current price.

Several other brokerages also recently weighed in on PANW. BidaskClub upgraded Palo Alto Networks from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. UBS AG reaffirmed a “neutral” rating and set a $140.00 price target (up previously from $130.00) on shares of Palo Alto Networks in a research report on Monday, June 5th. Susquehanna Bancshares Inc began coverage on shares of Palo Alto Networks in a research report on Wednesday, June 7th. They set a “neutral” rating and a $145.00 price target on the stock. Deutsche Bank AG reaffirmed a “hold” rating and set a $135.00 price target (up previously from $125.00) on shares of Palo Alto Networks in a research report on Thursday, June 1st. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $147.00 price target (up previously from $130.00) on shares of Palo Alto Networks in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $154.96.

Shares of Palo Alto Networks (NYSE:PANW) traded up 11.527% during mid-day trading on Friday, reaching $147.985. The company’s stock had a trading volume of 4,919,787 shares. The firm’s market capitalization is $13.59 billion. The firm has a 50-day moving average of $133.45 and a 200-day moving average of $126.61. Palo Alto Networks has a 52 week low of $107.31 and a 52 week high of $165.69. Palo Alto Networks also saw some unusual options trading on Thursday. Investors acquired 13,736 put options on the stock. This represents an increase of 559% compared to the typical volume of 2,084 put options.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.79 by $0.92. The business had revenue of $509 million for the quarter, compared to analyst estimates of $487.53 million. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The firm’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. Equities research analysts forecast that Palo Alto Networks will post $3.27 earnings per share for the current fiscal year.

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In related news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $137.97, for a total value of $4,139,100.00. Following the completion of the transaction, the director now owns 271,645 shares of the company’s stock, valued at approximately $37,478,860.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. Capital One National Association raised its position in Palo Alto Networks by 7.7% in the first quarter. Capital One National Association now owns 11,718 shares of the network technology company’s stock worth $1,320,000 after buying an additional 840 shares in the last quarter. Trillium Asset Management LLC raised its position in Palo Alto Networks by 4.7% in the first quarter. Trillium Asset Management LLC now owns 134,061 shares of the network technology company’s stock worth $15,106,000 after buying an additional 6,060 shares in the last quarter. Alpha Cubed Investments LLC raised its position in Palo Alto Networks by 35.9% in the first quarter. Alpha Cubed Investments LLC now owns 11,227 shares of the network technology company’s stock worth $1,265,000 after buying an additional 2,964 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Palo Alto Networks by 0.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 244,376 shares of the network technology company’s stock worth $27,536,000 after buying an additional 1,554 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Palo Alto Networks by 0.7% in the first quarter. Great West Life Assurance Co. Can now owns 45,645 shares of the network technology company’s stock worth $5,135,000 after buying an additional 320 shares in the last quarter. 77.05% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Company Profile

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.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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