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.
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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.
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