Northland Securities reaffirmed their buy rating on shares of Palo Alto Networks, Inc. (NYSE:PANW) in a research report report published on Friday morning. They currently have a $175.00 price objective on the network technology company’s stock.

Several other analysts have also recently commented on the stock. Jefferies Group LLC upgraded shares of Palo Alto Networks from a hold rating to a buy rating and raised their price objective for the company from $130.00 to $150.00 in a research note on Friday, May 19th. BidaskClub cut shares of Palo Alto Networks from a buy rating to a hold rating in a research note on Thursday, July 6th. OTR Global reiterated a positive rating on shares of Palo Alto Networks in a research note on Wednesday, May 10th. Vetr upgraded shares of Palo Alto Networks from a hold rating to a buy rating and set a $140.90 price objective for the company in a research note on Tuesday, June 27th. Finally, Citigroup Inc. upgraded shares of Palo Alto Networks from a neutral rating to a buy rating and raised their price objective for the company from $147.00 to $160.00 in a research note on Friday, July 7th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $155.12.

Palo Alto Networks (PANW) traded up 10.54% during mid-day trading on Friday, hitting $146.67. 8,179,740 shares of the stock were exchanged. The company’s market cap is $13.47 billion. Palo Alto Networks has a one year low of $107.31 and a one year high of $165.69. The company has a 50-day moving average price of $133.61 and a 200-day moving average price of $126.54. Palo Alto Networks also was the recipient of some unusual options trading activity on Thursday. Investors bought 13,736 put options on the stock. This represents an increase of approximately 559% compared to the average daily volume of 2,084 put options.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data 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 19.08%. The company had revenue of $509 million during the quarter, compared to analyst estimates of $487.53 million. During the same quarter last year, the business earned $0.50 EPS. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. Analysts forecast that Palo Alto Networks will post $3.27 earnings per share for the current fiscal year.

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In related news, Director James J. Goetz sold 30,000 shares of Palo Alto Networks 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 owns 271,645 shares in the company, valued at $37,478,860.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.80% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Capstone Asset Management Co. raised its stake 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 worth $254,000 after buying an additional 370 shares during the period. Nisa Investment Advisors LLC raised its stake 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 worth $225,000 after buying an additional 1,900 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Palo Alto Networks during the first quarter worth about $226,000. Waldron LP raised its stake in shares of Palo Alto Networks by 105.2% in the first quarter. Waldron LP now owns 12,850 shares of the network technology company’s stock worth $1,749,000 after buying an additional 6,587 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of 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 worth $860,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds 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.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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