Palo Alto Networks’ (PANW) Hold Rating Reaffirmed at Robert W. Baird
Robert W. Baird reiterated their hold rating on shares of Palo Alto Networks, Inc. (NYSE:PANW) in a research note published on Thursday morning. The firm currently has a $149.00 target price on the network technology company’s stock.
Several other research firms have also recently commented on PANW. Dougherty & Co boosted 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 report on Thursday. Maxim Group reaffirmed a buy rating and set a $195.00 price objective (up from $168.00) on shares of Palo Alto Networks in a research report on Thursday. BidaskClub cut Palo Alto Networks from a hold rating to a sell rating in a research report on Thursday, September 21st. ValuEngine downgraded Palo Alto Networks from a hold rating to a sell rating in a report on Monday, September 18th. Finally, Oppenheimer Holdings, Inc. reiterated a buy rating and set a $173.00 price objective on shares of Palo Alto Networks in a report on Monday, September 18th. Three investment 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. The company has an average rating of Buy and a consensus price target of $158.73.
Shares of Palo Alto Networks (PANW) opened at 144.10 on Thursday. The firm’s market cap is $13.23 billion. The firm’s 50 day moving average is $135.34 and its 200-day moving average is $126.14. Palo Alto Networks has a 52 week low of $107.31 and a 52 week high of $165.69.
Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The company had revenue of $509.00 million for the quarter, compared to analyst estimates of $487.53 million. During the same quarter last year, the business posted $0.50 earnings per share. The business’s quarterly revenue was up 27.0% on a year-over-year basis. Equities research analysts predict that Palo Alto Networks will post $3.33 EPS for the current year.
In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of Palo Alto Networks stock in a transaction dated Monday, July 10th. The stock was 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 of the company’s stock, valued at approximately $37,478,860.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Mark Anderson sold 44,429 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were 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 in the company, valued at $25,227,099. The disclosure for this sale can be found here. Insiders have sold 78,001 shares of company stock valued at $11,014,834 in the last quarter. Company insiders own 4.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of PANW. Global X Management Co. LLC grew its position in shares of Palo Alto Networks by 31.9% during the 1st quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock valued at $106,000 after purchasing an additional 227 shares in the last quarter. Sun Life Financial INC increased its holdings 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 during the period. First Interstate Bank increased its holdings 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 during the period. Migdal Insurance & Financial Holdings Ltd. raised its position 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 buying an additional 322 shares in the last quarter. Finally, OLD National Bancorp IN purchased a new stake in shares of Palo Alto Networks in the second quarter worth $201,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.
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.
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