Palo Alto Networks, Inc. (NASDAQ:PANW) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) have been given a consensus rating of “Moderate Buy” by the thirty-five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and twenty-two have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $218.79.

Several research analysts have recently issued reports on the stock. KeyCorp raised their target price on shares of Palo Alto Networks from $210.00 to $226.67 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd. Credit Suisse Group lifted their price target on Palo Alto Networks from $211.67 to $228.33 and gave the stock an “outperform” rating in a research report on Tuesday, August 23rd. Stifel Nicolaus boosted their price target on Palo Alto Networks from $200.00 to $215.00 in a research note on Tuesday, August 23rd. Guggenheim lifted their price objective on Palo Alto Networks from $208.33 to $213.33 and gave the company a “buy” rating in a research report on Tuesday, August 23rd. Finally, Barclays boosted their price target on Palo Alto Networks from $201.67 to $231.67 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd.

Palo Alto Networks Trading Down 2.9 %

Shares of PANW stock opened at $166.18 on Friday. The firm has a market capitalization of $49.72 billion, a price-to-earnings ratio of -183.29, a PEG ratio of 8.23 and a beta of 1.13. The business’s 50-day moving average price is $182.39 and its 200-day moving average price is $180.69. Palo Alto Networks has a 12 month low of $140.52 and a 12 month high of $213.63.

Palo Alto Networks (NASDAQ:PANWGet Rating) last announced its earnings results on Monday, August 22nd. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Palo Alto Networks had a negative return on equity of 42.61% and a negative net margin of 4.85%. Palo Alto Networks’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. On average, sell-side analysts predict that Palo Alto Networks will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, CFO Dipak Golechha sold 500 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $575.00, for a total value of $287,500.00. Following the transaction, the chief financial officer now owns 28,676 shares in the company, valued at approximately $16,488,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palo Alto Networks news, CFO Dipak Golechha sold 500 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $575.00, for a total transaction of $287,500.00. Following the sale, the chief financial officer now directly owns 28,676 shares of the company’s stock, valued at $16,488,700. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $500.58, for a total transaction of $6,006,960.00. Following the completion of the sale, the executive vice president now directly owns 671,812 shares in the company, valued at $336,295,650.96. The disclosure for this sale can be found here. Insiders have sold a total of 46,034 shares of company stock valued at $23,954,654 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palo Alto Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in PANW. Nuveen Asset Management LLC lifted its position in shares of Palo Alto Networks by 317.3% during the 4th quarter. Nuveen Asset Management LLC now owns 1,237,932 shares of the network technology company’s stock valued at $689,231,000 after buying an additional 941,271 shares in the last quarter. 1832 Asset Management L.P. grew its position in Palo Alto Networks by 10.1% in the 1st quarter. 1832 Asset Management L.P. now owns 941,293 shares of the network technology company’s stock valued at $578,094,000 after acquiring an additional 85,993 shares during the last quarter. Norges Bank bought a new position in shares of Palo Alto Networks during the 4th quarter worth $522,352,000. Northern Trust Corp lifted its stake in shares of Palo Alto Networks by 1.1% during the 1st quarter. Northern Trust Corp now owns 861,098 shares of the network technology company’s stock worth $536,041,000 after purchasing an additional 8,994 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Palo Alto Networks by 3.3% in the second quarter. Legal & General Group Plc now owns 804,072 shares of the network technology company’s stock valued at $397,164,000 after buying an additional 25,652 shares during the last quarter. Hedge funds and other institutional investors own 86.17% of the company’s stock.

About Palo Alto Networks

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Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, 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.

Further Reading

Analyst Recommendations for Palo Alto Networks (NASDAQ:PANW)

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