Palo Alto Networks Inc (NYSE:PANW) Receives Average Rating of “Buy” from Analysts

Palo Alto Networks Inc (NYSE:PANW) has received an average recommendation of “Buy” from the thirty-seven analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $263.03.

PANW has been the subject of a number of research reports. Wedbush cut their price objective on Palo Alto Networks from $300.00 to $275.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Raymond James dropped their price objective on Palo Alto Networks from $270.00 to $260.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Wells Fargo & Co dropped their price objective on Palo Alto Networks from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. JPMorgan Chase & Co. dropped their price objective on Palo Alto Networks from $293.00 to $270.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Finally, Zacks Investment Research cut Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Friday, May 3rd.

NYSE PANW traded down $2.99 during trading on Friday, reaching $201.57. The company’s stock had a trading volume of 924,039 shares, compared to its average volume of 1,319,477. The stock has a market capitalization of $19.63 billion, a PE ratio of -366.49, a P/E/G ratio of 6.94 and a beta of 0.90. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a fifty day moving average of $216.45 and a 200 day moving average of $224.83. Palo Alto Networks has a one year low of $160.08 and a one 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Palo Alto Networks had a positive return on equity of 5.42% and a negative net margin of 2.30%. The firm had revenue of $726.60 million during the quarter, compared to analysts’ expectations of $704.89 million. During the same quarter in the previous year, the company posted $0.99 earnings per share. Palo Alto Networks’s revenue for the quarter was up 28.0% compared to the same quarter last year. Research analysts expect that Palo Alto Networks will post 0.87 earnings per share for the current fiscal year.

In other Palo Alto Networks news, EVP Lee Klarich sold 7,662 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $201.29, for a total transaction of $1,542,283.98. Following the sale, the executive vice president now directly owns 289,849 shares in the company, valued at approximately $58,343,705.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $197.47, for a total value of $2,369,640.00. Following the sale, the executive vice president now owns 940,243 shares in the company, valued at $185,669,785.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 186,092 shares of company stock valued at $39,067,840. 3.10% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in PANW. Vanguard Group Inc. lifted its position in Palo Alto Networks by 2.2% during the second quarter. Vanguard Group Inc. now owns 8,343,076 shares of the network technology company’s stock valued at $1,699,985,000 after purchasing an additional 179,388 shares in the last quarter. BlackRock Inc. raised its holdings in Palo Alto Networks by 4.2% during the second quarter. BlackRock Inc. now owns 5,683,627 shares of the network technology company’s stock valued at $1,158,096,000 after acquiring an additional 230,170 shares during the period. Renaissance Technologies LLC raised its holdings in Palo Alto Networks by 13.2% during the second quarter. Renaissance Technologies LLC now owns 5,074,350 shares of the network technology company’s stock valued at $1,033,950,000 after acquiring an additional 590,200 shares during the period. Clearbridge Investments LLC raised its holdings in Palo Alto Networks by 2.9% during the first quarter. Clearbridge Investments LLC now owns 2,734,047 shares of the network technology company’s stock valued at $664,045,000 after acquiring an additional 77,503 shares during the period. Finally, Morgan Stanley raised its holdings in Palo Alto Networks by 10.1% during the second quarter. Morgan Stanley now owns 1,568,639 shares of the network technology company’s stock valued at $319,627,000 after acquiring an additional 144,406 shares during the period. Hedge funds and other institutional investors own 79.97% of the company’s stock.

About Palo Alto Networks

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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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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