Palo Alto Networks (NYSE:PANW) Rating Lowered to Hold at ValuEngine

ValuEngine downgraded shares of Palo Alto Networks (NYSE:PANW) from a buy rating to a hold rating in a research report report published on Saturday, June 22nd, ValuEngine reports.

Several other equities analysts have also issued reports on PANW. Credit Suisse Group reissued a buy rating and set a $241.00 target price on shares of FedEx in a research note on Thursday, May 30th. Stifel Nicolaus restated a buy rating and set a $27.00 price target on shares of SEA in a report on Wednesday, February 27th. Jefferies Financial Group reiterated a buy rating and issued a GBX 1,370 ($17.90) price objective on shares of in a report on Thursday, May 30th. BMO Capital Markets upgraded Tourmaline Oil from a market perform rating to an outperform rating in a report on Thursday, May 30th. Finally, Morgan Stanley increased their price objective on J M Smucker from $98.00 to $104.00 and gave the company an underweight rating in a report on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $263.03.

PANW stock traded down $0.72 during trading on Friday, hitting $216.94. 799,037 shares of the company traded hands, compared to its average volume of 1,104,810. The stock’s 50-day moving average is $205.69. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $20.82 billion, a P/E ratio of -394.44, a PEG ratio of 10.65 and a beta of 0.91. Palo Alto Networks has a 1 year low of $160.08 and a 1 year high of $260.63.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Wednesday, May 29th. The network technology company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.06). The business had revenue of $726.60 million during the quarter, compared to analysts’ expectations of $704.89 million. Palo Alto Networks had a negative net margin of 2.30% and a positive return on equity of 5.42%. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 earnings per share. Research analysts predict that Palo Alto Networks will post 0.87 earnings per share for the current year.

In other Palo Alto Networks news, CFO Kathleen Bonanno sold 7,210 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $200.00, for a total transaction of $1,442,000.00. Following the completion of the transaction, the chief financial officer now owns 31,796 shares of the company’s stock, valued at $6,359,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nir Zuk sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $247.28, for a total value of $7,418,400.00. Following the transaction, the executive vice president now directly owns 968,243 shares of the company’s stock, valued at approximately $239,427,129.04. The disclosure for this sale can be found here. Insiders sold a total of 201,172 shares of company stock valued at $44,058,169 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Alpha Omega Wealth Management LLC acquired a new position in Palo Alto Networks in the first quarter valued at $26,000. Manchester Capital Management LLC acquired a new position in shares of Palo Alto Networks during the first quarter worth about $26,000. C J Advisory Inc purchased a new stake in shares of Palo Alto Networks during the first quarter worth about $30,000. Cable Hill Partners LLC increased its position in shares of Palo Alto Networks by 226.1% during the first quarter. Cable Hill Partners LLC now owns 150 shares of the network technology company’s stock worth $37,000 after acquiring an additional 104 shares during the last quarter. Finally, Bruderman Asset Management LLC purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth about $38,000. 79.04% of the stock is owned by institutional investors and hedge funds.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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