Palo Alto Networks, Inc. (NYSE:PANW) has been assigned a $146.00 price objective by research analysts at Piper Jaffray Companies in a report released on Friday. The brokerage currently has a “buy” rating on the network technology company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 13.50% from the company’s current price.
Other equities analysts have also issued research reports about the stock. UBS AG reaffirmed a “neutral” rating and set a $140.00 price objective (up previously from $130.00) on shares of Palo Alto Networks in a research report on Monday, June 5th. Evercore ISI set a $140.00 price objective on shares of Palo Alto Networks and gave the company a “hold” rating in a research report on Saturday, June 17th. Vetr lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $140.90 price objective on the stock. in a research report on Monday, July 10th. BidaskClub raised shares of Palo Alto Networks from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 17th. Finally, Monness Crespi & Hardt raised their price objective on shares of Palo Alto Networks from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, June 1st. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twenty-eight have assigned a buy rating to the stock. Palo Alto Networks presently has an average rating of “Buy” and a consensus target price of $150.70.
Palo Alto Networks (PANW) opened at 128.63 on Friday. The company’s 50 day moving average is $134.20 and its 200-day moving average is $127.24. The stock’s market cap is $11.81 billion. Palo Alto Networks has a 52-week low of $107.31 and a 52-week high of $165.69.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Wednesday, May 31st. The network technology company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.55 by $0.06. The business had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $412.11 million. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share. On average, equities analysts anticipate that Palo Alto Networks will post $2.59 earnings per share for the current year.
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In related news, Director James J. Goetz sold 30,000 shares of Palo Alto Networks stock in a transaction dated 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 transaction, the director now directly owns 271,645 shares of the company’s stock, valued at $37,478,860.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. BB&T Corp purchased a new stake in shares of Palo Alto Networks during the first quarter valued at $331,000. Exane Derivatives boosted its stake in shares of Palo Alto Networks by 4,325.5% in the first quarter. Exane Derivatives now owns 4,868 shares of the network technology company’s stock valued at $548,000 after buying an additional 4,758 shares in the last quarter. Agran Libbie boosted its stake in shares of Palo Alto Networks by 10.1% in the first quarter. Agran Libbie now owns 6,985 shares of the network technology company’s stock valued at $787,000 after buying an additional 640 shares in the last quarter. Sumitomo Life Insurance Co. purchased a new stake in shares of Palo Alto Networks during the first quarter valued at $510,000. Finally, Glen Harbor Capital Management LLC boosted its stake in shares of Palo Alto Networks by 94.8% in the first quarter. Glen Harbor Capital Management LLC now owns 15,876 shares of the network technology company’s stock valued at $1,789,000 after buying an additional 7,728 shares in the last quarter. 80.25% of the stock is owned by hedge funds and other 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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