Palo Alto Networks (NYSE:PANW) was upgraded by equities research analysts at First Analysis from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Sunday. The firm currently has a $177.00 target price on the network technology company’s stock. First Analysis’ price target indicates a potential downside of 1.25% from the stock’s previous close.

PANW has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their price target on Palo Alto Networks to $282.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Raymond James reiterated a “buy” rating on shares of Palo Alto Networks in a research report on Sunday, December 2nd. Evercore ISI reiterated a “buy” rating and issued a $270.00 price target on shares of Palo Alto Networks in a research report on Friday, September 7th. Credit Suisse Group reduced their price target on Palo Alto Networks from $185.00 to $160.00 in a research report on Sunday. Finally, CIBC upped their price target on Palo Alto Networks from $235.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, September 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. Palo Alto Networks presently has an average rating of “Buy” and an average target price of $238.09.

Shares of PANW opened at $179.24 on Friday. Palo Alto Networks has a 12-month low of $142.67 and a 12-month high of $239.50. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $16.61 billion, a price-to-earnings ratio of -325.89, a PEG ratio of 10.50 and a beta of 1.14.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Thursday, November 29th. The network technology company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Palo Alto Networks had a negative return on equity of 1.72% and a negative net margin of 5.04%. The business had revenue of $656.00 million during the quarter, compared to analysts’ expectations of $632.16 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up 30.7% compared to the same quarter last year. As a group, research analysts forecast that Palo Alto Networks will post 0.71 earnings per share for the current fiscal year.

In related news, Director Mark D. Mclaughlin sold 40,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $235.24, for a total transaction of $9,409,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stanley J. Meresman sold 1,979 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $234.22, for a total value of $463,521.38. Following the sale, the director now owns 5,716 shares in the company, valued at approximately $1,338,801.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 248,669 shares of company stock worth $53,624,762. 3.10% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Aperio Group LLC boosted its holdings in Palo Alto Networks by 28.4% in the second quarter. Aperio Group LLC now owns 31,839 shares of the network technology company’s stock worth $6,542,000 after acquiring an additional 7,049 shares in the last quarter. Smith Asset Management Group LP boosted its holdings in Palo Alto Networks by 21.4% in the second quarter. Smith Asset Management Group LP now owns 187,690 shares of the network technology company’s stock worth $38,565,000 after acquiring an additional 33,090 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Palo Alto Networks in the second quarter worth approximately $2,342,000. Chevy Chase Trust Holdings Inc. boosted its holdings in Palo Alto Networks by 29.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,600 shares of the network technology company’s stock worth $329,000 after acquiring an additional 364 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in Palo Alto Networks by 2,475.0% in the second quarter. CIBC Private Wealth Group LLC now owns 515 shares of the network technology company’s stock worth $106,000 after acquiring an additional 495 shares in the last quarter. Institutional investors own 80.34% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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