Palo Alto Networks’ (PANW) “Market Perform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets reiterated their market perform rating on shares of Palo Alto Networks, Inc. (NYSE:PANW) in a report issued on Friday morning. The firm currently has a $160.00 target price on the network technology company’s stock, up from their prior target price of $150.00.

Other equities research analysts have also issued reports about the stock. Jefferies Group LLC upgraded shares of Palo Alto Networks from a hold rating to a buy rating and lifted their target price for the company from $130.00 to $150.00 in a research report on Friday, May 19th. Zacks Investment Research raised shares of Palo Alto Networks from a hold rating to a buy rating and set a $131.00 price target on the stock in a research note on Tuesday, May 23rd. Piper Jaffray Companies set a $156.00 price target on shares of Palo Alto Networks and gave the stock a buy rating in a research note on Thursday, June 1st. Gabelli raised shares of Palo Alto Networks from a hold rating to a buy rating and set a $159.00 price target on the stock in a research note on Thursday, June 1st. Finally, Monness Crespi & Hardt lifted their price target on shares of Palo Alto Networks from $150.00 to $155.00 and gave the stock a buy rating in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. Palo Alto Networks currently has an average rating of Buy and an average target price of $154.74.

Palo Alto Networks (NYSE PANW) opened at 146.67 on Friday. Palo Alto Networks has a 12 month low of $107.31 and a 12 month high of $165.69. The firm has a 50-day moving average of $133.61 and a 200 day moving average of $126.54. The firm’s market capitalization is $13.47 billion.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $487.53 million. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. Equities research analysts forecast that Palo Alto Networks will post $3.27 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Palo Alto Networks’ (PANW) “Market Perform” Rating Reiterated at BMO Capital Markets” was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://ledgergazette.com/2017/09/04/palo-alto-networks-panw-market-perform-rating-reiterated-at-bmo-capital-markets.html.

In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the transaction, the director now owns 271,645 shares in the company, valued at approximately $37,478,860.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Palo Alto Networks by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 7,262,069 shares of the network technology company’s stock valued at $971,738,000 after acquiring an additional 254,836 shares during the period. Renaissance Technologies LLC lifted its stake in Palo Alto Networks by 16.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock valued at $242,578,000 after acquiring an additional 307,800 shares during the period. Clearbridge Investments LLC lifted its stake in Palo Alto Networks by 11.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,888,116 shares of the network technology company’s stock valued at $212,753,000 after acquiring an additional 191,475 shares during the period. American Century Companies Inc. lifted its stake in Palo Alto Networks by 512.7% during the 2nd quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock valued at $233,811,000 after acquiring an additional 1,462,162 shares during the period. Finally, CI Global Investments Inc. lifted its stake in Palo Alto Networks by 2.4% during the 2nd quarter. CI Global Investments Inc. now owns 1,617,837 shares of the network technology company’s stock valued at $216,483,000 after acquiring an additional 37,597 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)

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 MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

18 − 14 =