Palo Alto Networks, Inc. (PANW) Given Consensus Recommendation of “Buy” by Analysts
Palo Alto Networks, Inc. (NYSE:PANW) has been assigned an average recommendation of “Buy” from the forty-seven research firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $163.24.
PANW has been the subject of a number of research analyst reports. Morgan Stanley upgraded Palo Alto Networks from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $150.00 to $185.00 in a report on Tuesday, October 10th. William Blair restated a “market perform” rating on shares of Palo Alto Networks in a report on Tuesday, September 5th. Dougherty & Co restated a “buy” rating and set a $165.00 target price (up from $155.00) on shares of Palo Alto Networks in a report on Tuesday, September 5th. Royal Bank of Canada raised their target price on Palo Alto Networks from $145.00 to $159.00 and gave the company an “outperform” rating in a report on Friday, September 1st. Finally, Summit Redstone upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Tuesday, September 5th.
Shares of Palo Alto Networks (NYSE:PANW) traded up $1.38 on Friday, hitting $144.87. The company’s stock had a trading volume of 1,106,298 shares, compared to its average volume of 1,758,690. Palo Alto Networks has a twelve month low of $107.31 and a twelve month high of $157.65.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. The business had revenue of $505.50 million during the quarter, compared to analysts’ expectations of $489.36 million. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. sell-side analysts anticipate that Palo Alto Networks will post -0.37 earnings per share for the current fiscal year.
In other Palo Alto Networks news, CMO Rene Bonvanie sold 16,596 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $151.83, for a total transaction of $2,519,770.68. Following the completion of the sale, the chief marketing officer now directly owns 95,584 shares in the company, valued at $14,512,518.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Mark Anderson sold 44,429 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $143.10, for a total value of $6,357,789.90. Following the sale, the president now owns 176,290 shares of the company’s stock, valued at $25,227,099. The disclosure for this sale can be found here. Insiders sold 343,213 shares of company stock valued at $50,953,421 over the last quarter. Insiders own 4.80% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Capstone Asset Management Co. boosted its position in shares of Palo Alto Networks by 1.3% in the second quarter. Capstone Asset Management Co. now owns 2,284 shares of the network technology company’s stock worth $306,000 after buying an additional 30 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Palo Alto Networks by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 16,971 shares of the network technology company’s stock valued at $2,271,000 after purchasing an additional 43 shares during the last quarter. WESPAC Advisors SoCal LLC boosted its holdings in Palo Alto Networks by 2.4% in the second quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the network technology company’s stock valued at $284,000 after purchasing an additional 50 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Palo Alto Networks by 2.2% in the second quarter. Nordea Investment Management AB now owns 2,607 shares of the network technology company’s stock valued at $349,000 after purchasing an additional 55 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Palo Alto Networks by 1.2% in the second quarter. Principal Financial Group Inc. now owns 5,590 shares of the network technology company’s stock valued at $748,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Palo Alto Networks, Inc. (PANW) Given Consensus Recommendation of “Buy” by Analysts” was first reported by Watch List News and is the property of of Watch List News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.watchlistnews.com/palo-alto-networks-inc-panw-given-consensus-recommendation-of-buy-by-analysts/1762215.html.
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.
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with Analyst Ratings Network's FREE daily email newsletter.