BMO Capital Markets reiterated their market perform rating on shares of Palo Alto Networks, Inc. (NYSE:PANW) in a research report sent to investors on Friday morning. They currently have a $160.00 target price on the network technology company’s stock, up from their prior target price of $150.00.
PANW has been the topic of a number of other reports. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and issued a $173.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 23rd. Piper Jaffray Companies set a $146.00 target price on Palo Alto Networks and gave the stock a buy rating in a report on Friday, August 25th. Cowen and Company reaffirmed an outperform rating and issued a $165.00 target price (up from $150.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. Deutsche Bank AG reaffirmed a hold rating and issued a $135.00 target price (up from $125.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. Finally, Susquehanna Bancshares Inc started coverage on Palo Alto Networks in a report on Wednesday, June 7th. They issued a neutral rating and a $145.00 target price on the stock. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-seven have issued a buy rating to the company. Palo Alto Networks presently has an average rating of Buy and a consensus target price of $155.12.
Shares of Palo Alto Networks (NYSE:PANW) traded up 10.54% during mid-day trading on Friday, hitting $146.67. The company’s stock had a trading volume of 8,179,740 shares. Palo Alto Networks has a 52-week low of $107.31 and a 52-week high of $165.69. The stock’s 50 day moving average price is $133.61 and its 200 day moving average price is $126.54. The company’s market cap is $13.47 billion. Palo Alto Networks also saw unusually large options trading on Thursday. Investors bought 13,736 put options on the company. This is an increase of 559% compared to the average volume of 2,084 put options.
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 Zacks’ consensus estimate of $0.79 by $0.92. Palo Alto Networks had a negative return on equity of 19.08% and a negative net margin of 12.57%. The company had revenue of $509 million during the quarter, compared to the consensus estimate of $487.53 million. During the same period in the prior year, the business posted $0.50 earnings per share. Palo Alto Networks’s revenue for the quarter was up 27.0% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks will post $3.27 EPS for the current year.
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In related news, Director James J. Goetz sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the company. Endurance Wealth Management Inc. increased its position in shares of Palo Alto Networks by 0.3% in the second quarter. Endurance Wealth Management Inc. now owns 3,610 shares of the network technology company’s stock worth $483,000 after buying an additional 11 shares during the period. HM Payson & Co. increased its position in shares of Palo Alto Networks by 0.3% in the first quarter. HM Payson & Co. now owns 6,755 shares of the network technology company’s stock worth $761,000 after buying an additional 19 shares during the period. NEXT Financial Group Inc increased its position in shares of Palo Alto Networks by 0.4% in the second quarter. NEXT Financial Group Inc now owns 4,969 shares of the network technology company’s stock worth $665,000 after buying an additional 19 shares during the period. Wedbush Securities Inc. increased its position in shares of Palo Alto Networks by 0.4% in the first quarter. Wedbush Securities Inc. now owns 5,437 shares of the network technology company’s stock worth $613,000 after buying an additional 23 shares during the period. Finally, Capstone Asset Management Co. increased its position in shares of Palo Alto Networks by 1.3% in the second quarter. Capstone Asset Management Co. now owns 2,284 shares of the network technology company’s stock worth $306,000 after buying an additional 30 shares during the period. 77.05% of the stock is owned by institutional investors.
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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