Palo Alto Networks, Inc. (PANW) Raised to “Overweight” at First Analysis
Palo Alto Networks, Inc. (NYSE:PANW) was upgraded by stock analysts at First Analysis from an “equal weight” rating to an “overweight” rating in a report released on Friday.
PANW has been the subject of a number of other research reports. UBS AG reiterated a “neutral” rating and issued a $140.00 price objective (up previously from $130.00) on shares of Palo Alto Networks in a report on Monday, June 5th. J P Morgan Chase & Co upgraded shares of Palo Alto Networks from a “neutral” rating to an “overweight” rating in a report on Friday. Jefferies Group LLC increased their price objective on shares of Palo Alto Networks to $168.00 and gave the company a “buy” rating in a report on Friday. Evercore ISI set a $140.00 price objective on shares of Palo Alto Networks and gave the company a “hold” rating in a report on Saturday, June 17th. Finally, ValuEngine upgraded shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $150.37.
Palo Alto Networks (PANW) opened at 132.69 on Friday. Palo Alto Networks has a 52-week low of $107.31 and a 52-week high of $165.69. The company’s 50-day moving average price is $133.45 and its 200 day moving average price is $126.61. The stock’s market capitalization is $12.18 billion.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Thursday, August 31st. The network technology company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.13. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The business had revenue of $509 million for the quarter, compared to analyst estimates of $487.53 million. During the same period in the prior year, the company posted $0.50 EPS. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, equities research analysts predict that Palo Alto Networks will post $2.59 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 firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the completion of the transaction, the director now owns 271,645 shares in the company, valued at approximately $37,478,860.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capstone Asset Management Co. boosted its position in shares of Palo Alto Networks by 19.6% in the first quarter. Capstone Asset Management Co. now owns 2,254 shares of the network technology company’s stock valued at $254,000 after buying an additional 370 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Palo Alto Networks by 1,900.0% in the first quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the network technology company’s stock valued at $225,000 after buying an additional 1,900 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Palo Alto Networks during the first quarter valued at approximately $226,000. Waldron LP boosted its stake in Palo Alto Networks by 105.2% in the first quarter. Waldron LP now owns 12,850 shares of the network technology company’s stock valued at $1,749,000 after buying an additional 6,587 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Palo Alto Networks by 2.2% in the first quarter. Fisher Asset Management LLC now owns 7,634 shares of the network technology company’s stock valued at $860,000 after buying an additional 165 shares in the last quarter. Institutional investors own 77.05% of the company’s stock.
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.
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