Palo Alto Networks, Inc. (NYSE:PANW) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Other research analysts also recently issued reports about the stock. Piper Jaffray Companies set a $156.00 price target on shares of Palo Alto Networks and gave the company a “buy” rating in a report on Thursday, June 1st. Gabelli raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a report on Thursday, June 1st. Monness Crespi & Hardt lifted their price objective on shares of Palo Alto Networks from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, June 1st. BTIG Research reaffirmed a “buy” rating and set a $155.00 price objective on shares of Palo Alto Networks in a report on Thursday, June 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $180.00 price objective (up from $170.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $157.91.

Palo Alto Networks (NYSE:PANW) traded down 1.19% during midday trading on Thursday, reaching $140.06. The company’s stock had a trading volume of 985,935 shares. Palo Alto Networks has a 12 month low of $107.31 and a 12 month high of $165.69. The stock has a 50-day moving average price of $135.34 and a 200 day moving average price of $126.14. The company’s market cap is $12.86 billion.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The firm had revenue of $509.00 million during the quarter, compared to the consensus estimate of $487.53 million. During the same period in the previous year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. Analysts expect that Palo Alto Networks will post $3.33 earnings per share for the current fiscal year.

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In other news, Director James J. Goetz sold 30,000 shares of the stock in a transaction 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 sale, the director now directly owns 271,645 shares of the company’s stock, valued at $37,478,860.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nir Zuk sold 2,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $145.01, for a total transaction of $290,020.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,001 shares of company stock valued at $11,014,834. 4.80% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in PANW. WFG Advisors LP increased its stake in shares of Palo Alto Networks by 5.9% in the first quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock worth $101,000 after purchasing an additional 50 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Palo Alto Networks by 31.9% in the first quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock worth $106,000 after purchasing an additional 227 shares in the last quarter. Sun Life Financial INC increased its stake in shares of Palo Alto Networks by 785.0% in the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after purchasing an additional 887 shares in the last quarter. First Interstate Bank increased its stake in shares of Palo Alto Networks by 130.7% in the first quarter. First Interstate Bank now owns 1,375 shares of the network technology company’s stock worth $155,000 after purchasing an additional 779 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Palo Alto Networks by 30.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock worth $188,000 after purchasing an additional 322 shares in the last quarter. 77.00% of the stock is owned by hedge funds and other institutional investors.

About Palo Alto Networks

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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