Palo Alto Networks, Inc. (NYSE:PANW) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday, July 25th.
A number of other equities research analysts have also weighed in on the stock. Jefferies Group LLC upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $150.00 in a research note on Friday, May 19th. FBN Securities lowered shares of Palo Alto Networks from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $135.00 to $115.00 in a research note on Monday, April 17th. BMO Capital Markets decreased their target price on shares of Palo Alto Networks from $132.00 to $126.00 and set an “outperform” rating for the company in a research note on Friday, April 21st. OTR Global reiterated a “positive” rating on shares of Palo Alto Networks in a research note on Wednesday, May 10th. Finally, Vetr lowered Palo Alto Networks from a “strong-buy” rating to a “hold” rating and set a $137.50 price objective for the company. in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $150.94.
Shares of Palo Alto Networks (NYSE:PANW) traded down 0.97% during midday trading on Tuesday, hitting $130.47. The company had a trading volume of 830,916 shares. The firm’s 50 day moving average is $136.07 and its 200 day moving average is $128.68. Palo Alto Networks has a 52 week low of $107.31 and a 52 week high of $165.69. The company’s market capitalization is $11.98 billion.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.06. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The company had revenue of $431.80 million during the quarter, compared to analyst estimates of $412.11 million. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts anticipate that Palo Alto Networks will post $2.59 EPS for the current year.
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In other news, Director James J. Goetz sold 30,000 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $137.97, for a total value of $4,139,100.00. Following the completion of the transaction, the director now owns 271,645 shares in the company, valued at approximately $37,478,860.65. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Farmers Trust Co. purchased a new stake in Palo Alto Networks during the first quarter valued at approximately $2,164,000. Bank of Montreal Can increased its position in Palo Alto Networks by 4.1% in the first quarter. Bank of Montreal Can now owns 61,034 shares of the network technology company’s stock valued at $6,877,000 after buying an additional 2,380 shares during the period. National Pension Service increased its position in Palo Alto Networks by 32.1% in the first quarter. National Pension Service now owns 94,817 shares of the network technology company’s stock valued at $10,762,000 after buying an additional 23,042 shares during the period. Gulf International Bank UK Ltd increased its position in Palo Alto Networks by 3.5% in the first quarter. Gulf International Bank UK Ltd now owns 27,570 shares of the network technology company’s stock valued at $3,106,000 after buying an additional 935 shares during the period. Finally, Chesley Taft & Associates LLC increased its position in Palo Alto Networks by 0.3% in the first quarter. Chesley Taft & Associates LLC now owns 22,897 shares of the network technology company’s stock valued at $2,580,000 after buying an additional 77 shares during the period. Institutional investors own 80.51% of the company’s stock.
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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