Research Analysts’ Recent Ratings Updates for Palo Alto Networks (PANW)

Several analysts have recently updated their ratings and price targets for Palo Alto Networks (NYSE: PANW):

  • 9/12/2018 – Palo Alto Networks was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Palo Alto fourth-quarter fiscal 2018 results benefitted from strong growth in SaaS and emerging products. Shares have outperformed the industry on a year-to-date basis. The company is benefiting from healthy demand environment, new product launches and increasing adoption of its next-generation security platforms. Customer wins coupled with expansion of the existing customer base are the other positives. We believe that the company’s acquisitions synergies and strategic partnerships will continue to boost the top line. Nonetheless, competition from several small and big players remains concern. Near-term prospects for Palo Alto are challenging as changing customer spending behaviour has recently hit several other players in this space.”
  • 9/11/2018 – Palo Alto Networks was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $264.00 price target on the stock. According to Zacks, “Palo Alto fourth-quarter fiscal 2018 results benefitted from strong growth in SaaS and emerging products. Shares have outperformed the industry on a year-to-date basis. The company is benefiting from healthy demand environment, new product launches and increasing adoption of its next-generation security platforms. Customer wins coupled with expansion of the existing customer base are the other positives. We believe that the company’s acquisitions synergies and strategic partnerships will continue to boost the top line. Nonetheless, competition from several small and big players remains concern. Near-term prospects for Palo Alto are challenging as changing customer spending behaviour has recently hit several other players in this space.”
  • 9/10/2018 – Palo Alto Networks had its price target raised by analysts at Argus to $275.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Credit Suisse Group AG from $175.00 to $185.00. They now have an “underperform” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at JPMorgan Chase & Co. to $282.00. They now have an “overweight” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Morgan Stanley from $240.00 to $262.00. They now have an “overweight” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Barclays PLC from $245.00 to $263.00. They now have an “overweight” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at KeyCorp from $245.00 to $275.00. They now have an “overweight” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Piper Jaffray Companies to $250.00. They now have an “overweight” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at CIBC from $235.00 to $275.00. They now have an “outperform” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Oppenheimer Holdings Inc. from $235.00 to $275.00. They now have an “outperform” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its “outperform” rating reaffirmed by analysts at William Blair.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at JMP Securities from $240.00 to $270.00. They now have an “outperform” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at UBS Group AG from $212.00 to $232.00. They now have a “neutral” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its “market perform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $260.00 price target on the stock, up previously from $222.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Citigroup Inc from $237.00 to $270.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Rosenblatt Securities to $280.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Deutsche Bank AG to $265.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Maxim Group from $262.00 to $274.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Stifel Nicolaus from $240.00 to $260.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Monness Crespi & Hardt from $235.00 to $265.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Jefferies Financial Group Inc to $267.00. They now have a “buy” rating on the stock.
  • 9/7/2018 – Palo Alto Networks had its “buy” rating reaffirmed by analysts at Evercore ISI. They now have a $270.00 price target on the stock.
  • 9/7/2018 – Palo Alto Networks had its price target raised by analysts at Royal Bank of Canada to $250.00.
  • 9/5/2018 – Palo Alto Networks had its price target raised by analysts at Raymond James from $240.00 to $254.00. They now have an “outperform” rating on the stock.
  • 8/7/2018 – Palo Alto Networks was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Palo Alto faces stiff competition from several big and small players in the security application market. Further, over the past few years, the demand for IT security has been on the rise driven by increasing awareness and cyber-attacks, making the market more attractive for new players. Near-term prospects for Palo Alto are not promising as changing customer spending behavior has recently hit several other players in this space. The decelerating revenue growth trend makes us slightly cautious about Palo Alto's near-term performance.  However, customer wins coupled with expansion of the existing customer base is a positive. Shares outperformed the industry on a year-to-date basis.”
  • 8/3/2018 – Palo Alto Networks was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.

NYSE:PANW opened at $236.10 on Friday. Palo Alto Networks Inc has a 1-year low of $135.85 and a 1-year high of $239.50. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of -429.27, a P/E/G ratio of 16.59 and a beta of 0.83.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Thursday, September 6th. The network technology company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. Palo Alto Networks had a negative return on equity of 4.57% and a negative net margin of 6.51%. The firm had revenue of $658.10 million for the quarter, compared to analyst estimates of $634.14 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The company’s quarterly revenue was up 29.3% on a year-over-year basis. equities research analysts expect that Palo Alto Networks Inc will post 0.61 EPS for the current fiscal year.

In other news, CFO Kathleen Bonanno sold 1,097 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $208.77, for a total transaction of $229,020.69. Following the sale, the chief financial officer now owns 35,882 shares of the company’s stock, valued at $7,491,085.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Mark Anderson sold 30,000 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $231.92, for a total value of $6,957,600.00. Following the sale, the president now directly owns 140,841 shares in the company, valued at approximately $32,663,844.72. The disclosure for this sale can be found here. Insiders sold 220,468 shares of company stock worth $46,211,049 in the last three months. Insiders own 4.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group raised its position in shares of Palo Alto Networks by 123.4% during the second quarter. Schroder Investment Management Group now owns 94,104 shares of the network technology company’s stock worth $19,284,000 after purchasing an additional 51,979 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Palo Alto Networks by 83.0% during the second quarter. Advisors Asset Management Inc. now owns 4,349 shares of the network technology company’s stock worth $894,000 after buying an additional 1,972 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Palo Alto Networks by 43.0% during the second quarter. Public Employees Retirement System of Ohio now owns 55,095 shares of the network technology company’s stock worth $11,320,000 after buying an additional 16,577 shares in the last quarter. Global X Management Co LLC grew its holdings in shares of Palo Alto Networks by 455.0% during the second quarter. Global X Management Co LLC now owns 7,204 shares of the network technology company’s stock worth $1,480,000 after buying an additional 5,906 shares in the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of Palo Alto Networks by 242.3% during the second quarter. Bank of Nova Scotia now owns 106,100 shares of the network technology company’s stock worth $21,800,000 after buying an additional 75,100 shares in the last quarter. 81.57% of the stock is currently owned by institutional investors.

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

Further Reading: How do investors use RSI to grade stocks?

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