ValuEngine upgraded shares of Palo Alto Networks (NYSE:PANW) from a buy rating to a strong-buy rating in a research note issued to investors on Monday, February 4th.
A number of other research firms also recently commented on PANW. Zacks Investment Research upgraded Palo Alto Networks from a hold rating to a buy rating and set a $236.00 target price on the stock in a research report on Friday, January 25th. First Analysis raised Palo Alto Networks from an outperform rating to a strong-buy rating and set a $240.00 price objective on the stock in a research note on Friday, November 30th. Raymond James reissued a buy rating on shares of Palo Alto Networks in a research note on Sunday, December 2nd. Credit Suisse Group reduced their price objective on Palo Alto Networks from $185.00 to $160.00 in a research note on Sunday, December 9th. Finally, BMO Capital Markets cut their target price on Palo Alto Networks from $260.00 to $205.00 and set a market perform rating on the stock in a research note on Friday, November 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $267.37.
NYSE PANW opened at $245.47 on Monday. Palo Alto Networks has a fifty-two week low of $160.08 and a fifty-two week high of $260.63. The firm has a market cap of $21.83 billion, a P/E ratio of -446.31, a P/E/G ratio of 13.80 and a beta of 0.91. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 1.10.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Tuesday, February 26th. The network technology company reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.29. Palo Alto Networks had a negative return on equity of 1.72% and a negative net margin of 5.04%. The business had revenue of $711.00 million for the quarter, compared to the consensus estimate of $682.32 million. During the same period in the previous year, the business earned $0.97 earnings per share. The business’s revenue was up 30.3% on a year-over-year basis. On average, equities research analysts anticipate that Palo Alto Networks will post 0.69 EPS for the current year.
In related news, Director Stanley J. Meresman sold 1,958 shares of the company’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $177.48, for a total value of $347,505.84. Following the transaction, the director now directly owns 1,658 shares of the company’s stock, valued at approximately $294,261.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nir Zuk sold 30,000 shares of the company’s stock in a transaction on Friday, December 7th. The shares were sold at an average price of $177.48, for a total value of $5,324,400.00. Following the completion of the transaction, the executive vice president now directly owns 1,076,683 shares in the company, valued at $191,089,698.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,524 shares of company stock valued at $32,949,611. Company insiders own 3.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in PANW. Vanguard Group Inc. grew its position in shares of Palo Alto Networks by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,709,183 shares of the network technology company’s stock valued at $1,736,571,000 after acquiring an additional 94,743 shares during the period. Navellier & Associates Inc lifted its stake in Palo Alto Networks by 23.9% in the 4th quarter. Navellier & Associates Inc now owns 3,317 shares of the network technology company’s stock valued at $625,000 after buying an additional 639 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Palo Alto Networks by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 93,037 shares of the network technology company’s stock valued at $19,116,000 after buying an additional 1,165 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Palo Alto Networks by 7.4% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 536,700 shares of the network technology company’s stock valued at $120,897,000 after buying an additional 37,183 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its stake in Palo Alto Networks by 0.3% in the 4th quarter. Gateway Investment Advisers LLC now owns 27,497 shares of the network technology company’s stock valued at $5,179,000 after buying an additional 95 shares in the last quarter. 80.60% of the stock is currently owned by institutional investors.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.
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