Palo Alto Networks, Inc. (NYSE:PANW) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, July 25th.
Other research analysts have also recently issued research reports about the stock. Monness Crespi & Hardt started coverage on shares of Palo Alto Networks in a research report on Thursday, April 6th. They issued a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Tuesday, May 23rd. Jefferies Group LLC raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and boosted their price target for the company from $130.00 to $150.00 in a report on Friday, May 19th. Piper Jaffray Companies set a $156.00 price target on shares of Palo Alto Networks and gave the company a “buy” rating in a report on Thursday, June 1st. Finally, Gabelli raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $150.94.
Palo Alto Networks (PANW) traded up 0.88% during trading on Tuesday, hitting $128.84. The stock had a trading volume of 688,143 shares. Palo Alto Networks has a one year low of $107.31 and a one year high of $165.69. The stock’s 50-day moving average is $135.30 and its 200 day moving average is $128.34. The firm’s market cap is $11.83 billion.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $412.11 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. Palo Alto Networks’s quarterly revenue was up 24.9% compared to the same quarter last year. Equities analysts anticipate that Palo Alto Networks will post $2.59 earnings per share for the current year.
In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the firm’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 sale, the director now directly owns 271,645 shares in the company, valued at $37,478,860.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its stake in shares of Palo Alto Networks by 512.7% in the second quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock valued at $233,811,000 after buying an additional 1,462,162 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in Palo Alto Networks by 13,115.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock valued at $8,760,000 after buying an additional 1,163,306 shares during the period. Northern Trust Corp raised its stake in Palo Alto Networks by 109.9% in the second quarter. Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock valued at $152,883,000 after buying an additional 598,115 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Palo Alto Networks by 5,177.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 496,610 shares of the network technology company’s stock valued at $55,958,000 after buying an additional 487,200 shares during the period. Finally, Hunt Lane Capital LP acquired a new stake in Palo Alto Networks during the first quarter valued at about $42,818,000. Hedge funds and other institutional investors own 80.46% 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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