Morgan Stanley upgraded shares of Palo Alto Networks, Inc. (NYSE:PANW) from an equal weight rating to an overweight rating in a research note released on Tuesday morning, Marketbeat Ratings reports. Morgan Stanley currently has $185.00 target price on the network technology company’s stock, up from their prior target price of $150.00.

A number of other equities research analysts have also recently commented on PANW. Evercore ISI set a $140.00 price objective on shares of Palo Alto Networks and gave the company a hold rating in a research note on Saturday, June 17th. Stephens reissued an overweight rating and issued a $165.00 price objective (up from $155.00) on shares of Palo Alto Networks in a research note on Tuesday, October 3rd. Dougherty & Co increased their price objective on shares of Palo Alto Networks from $165.00 to $170.00 and gave the company a buy rating in a research note on Thursday, September 28th. Robert W. Baird reissued a hold rating and issued a $149.00 price objective on shares of Palo Alto Networks in a research note on Thursday, September 28th. Finally, Oppenheimer Holdings, Inc. reissued a buy rating and issued a $173.00 price objective on shares of Palo Alto Networks in a research note on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirty-one have issued a buy rating to the company’s stock. Palo Alto Networks has a consensus rating of Buy and an average target price of $160.33.

Palo Alto Networks (PANW) opened at 149.91 on Tuesday. The stock has a 50 day moving average of $142.18 and a 200 day moving average of $129.77. The stock’s market capitalization is $13.77 billion. Palo Alto Networks has a 1-year low of $107.31 and a 1-year high of $165.69.

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

ILLEGAL ACTIVITY WARNING: This report was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.watchlistnews.com/palo-alto-networks-inc-panw-upgraded-by-morgan-stanley-to-overweight/1630355.html.

In related news, President Mark Anderson sold 44,429 shares of Palo Alto Networks 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 transaction, the president now owns 176,290 shares of the company’s stock, valued at approximately $25,227,099. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl M. Eschenbach sold 1,572 shares of Palo Alto Networks stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $144.99, for a total value of $227,924.28. Following the completion of the transaction, the director now directly owns 3,619 shares in the company, valued at approximately $524,718.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,744 shares of company stock worth $37,804,516. 4.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Global X Management Co. LLC increased its stake in Palo Alto Networks by 31.9% in the 1st 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 grew its stake in Palo Alto Networks by 785.0% during the 2nd quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock valued at $134,000 after acquiring an additional 887 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Palo Alto Networks by 30.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock valued at $188,000 after acquiring an additional 322 shares in the last quarter. OLD National Bancorp IN purchased a new position in Palo Alto Networks during the 2nd quarter valued at about $201,000. Finally, Shelton Capital Management purchased a new position in Palo Alto Networks during the 2nd quarter valued at about $201,000. 77.03% of the stock is currently 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)

Receive News & Ratings for Palo Alto Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.