Piper Jaffray Companies Reaffirms “Overweight” Rating for Palo Alto Networks (NYSE:PANW)

Piper Jaffray Companies restated their overweight rating on shares of Palo Alto Networks (NYSE:PANW) in a research note published on Tuesday, November 21st, Marketbeat.com reports. The firm currently has a $173.00 target price on the network technology company’s stock, up from their previous target price of $155.00.

Several other analysts have also issued reports on the stock. Jefferies Group reiterated a buy rating and issued a $183.00 target price (up previously from $168.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. BMO Capital Markets upped their target price on shares of Palo Alto Networks from $160.00 to $170.00 and gave the stock a market perform rating in a research note on Tuesday, November 21st. Evercore ISI set a $145.00 price target on shares of Palo Alto Networks and gave the company a hold rating in a research report on Thursday, November 16th. Oppenheimer restated a buy rating and set a $173.00 price target on shares of Palo Alto Networks in a research report on Tuesday, November 14th. Finally, Zacks Investment Research lowered shares of Palo Alto Networks from a hold rating to a sell rating in a research report on Monday, November 13th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-three have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $162.84.

Palo Alto Networks (PANW) traded down $1.45 on Tuesday, reaching $141.37. 1,719,513 shares of the company’s stock traded hands, compared to its average volume of 1,771,524. Palo Alto Networks has a 1 year low of $107.31 and a 1 year high of $157.65.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The firm had revenue of $505.50 million for the quarter, compared to the consensus estimate of $489.36 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The business’s revenue was up 27.0% on a year-over-year basis. equities analysts forecast that Palo Alto Networks will post -0.37 EPS for the current year.

In related news, Director Carl M. Eschenbach sold 1,572 shares of Palo Alto Networks stock in a transaction on Friday, September 8th. The shares were sold at an average price of $144.99, for a total value of $227,924.28. Following the sale, the director now owns 3,619 shares in the company, valued at $524,718.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Mark Anderson sold 44,429 shares of Palo Alto Networks stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $143.10, for a total transaction of $6,357,789.90. Following the completion of the sale, the president now owns 176,290 shares in the company, valued at approximately $25,227,099. The disclosure for this sale can be found here. Insiders sold 346,785 shares of company stock worth $51,471,366 in the last 90 days. Company insiders own 4.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. AXA boosted its holdings in Palo Alto Networks by 12.0% in the third quarter. AXA now owns 119,513 shares of the network technology company’s stock valued at $17,222,000 after acquiring an additional 12,826 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Palo Alto Networks in the third quarter valued at $717,000. Public Employees Retirement System of Ohio boosted its holdings in Palo Alto Networks by 31.8% in the third quarter. Public Employees Retirement System of Ohio now owns 52,196 shares of the network technology company’s stock valued at $7,521,000 after acquiring an additional 12,605 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in Palo Alto Networks in the third quarter valued at $366,000. Finally, Green Square Capital LLC boosted its holdings in Palo Alto Networks by 30.4% in the third quarter. Green Square Capital LLC now owns 4,027 shares of the network technology company’s stock valued at $580,000 after acquiring an additional 939 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

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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.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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