Raymond James Lowers Palo Alto Networks (NYSE:PANW) to Market Perform

Raymond James lowered shares of Palo Alto Networks (NYSE:PANW) from an outperform rating to a market perform rating in a report released on Tuesday morning, BenzingaRatingsTable reports.

Several other research analysts also recently issued reports on PANW. Robert W. Baird reaffirmed a buy rating on shares of Palo Alto Networks in a report on Tuesday. Goldman Sachs Group reiterated a buy rating and set a $297.00 target price on shares of Palo Alto Networks in a research report on Thursday, January 2nd. Piper Jaffray Companies initiated coverage on shares of Palo Alto Networks in a research report on Friday, November 8th. They set a neutral rating and a $270.00 target price for the company. Maxim Group reiterated a buy rating and set a $316.00 target price on shares of Palo Alto Networks in a research report on Tuesday, November 26th. Finally, Zacks Investment Research upgraded shares of Palo Alto Networks from a strong sell rating to a hold rating and set a $201.00 target price for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Palo Alto Networks presently has a consensus rating of Buy and an average price target of $249.50.

NYSE:PANW traded down $2.94 during trading hours on Tuesday, hitting $184.62. 3,584,448 shares of the stock were exchanged, compared to its average volume of 1,332,661. The company’s 50 day moving average is $238.23 and its two-hundred day moving average is $225.36. Palo Alto Networks has a twelve month low of $181.06 and a twelve month high of $251.10. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $18.32 billion, a P/E ratio of -102.57 and a beta of 0.96.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Monday, February 24th. The network technology company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. Palo Alto Networks had a negative return on equity of 2.23% and a negative net margin of 5.58%. The firm had revenue of $816.70 million for the quarter, compared to the consensus estimate of $842.13 million. During the same quarter in the prior year, the business earned $1.51 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts expect that Palo Alto Networks will post -0.12 EPS for the current year.

In related news, Director Mark D. Mclaughlin sold 19,050 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $249.03, for a total value of $4,744,021.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kathleen Bonanno sold 2,062 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $244.00, for a total transaction of $503,128.00. Following the completion of the sale, the chief financial officer now owns 41,570 shares of the company’s stock, valued at approximately $10,143,080. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,562 shares of company stock valued at $11,132,020. 2.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PANW. Farallon Capital Management LLC boosted its stake in Palo Alto Networks by 81.7% in the 4th quarter. Farallon Capital Management LLC now owns 1,108,416 shares of the network technology company’s stock worth $256,321,000 after purchasing an additional 498,416 shares during the period. Alyeska Investment Group L.P. acquired a new position in Palo Alto Networks in the 4th quarter worth $107,049,000. BlackRock Inc. boosted its stake in Palo Alto Networks by 4.2% in the 2nd quarter. BlackRock Inc. now owns 5,683,627 shares of the network technology company’s stock worth $1,158,096,000 after purchasing an additional 230,170 shares during the period. Pictet Asset Management Ltd. boosted its stake in Palo Alto Networks by 26.5% in the 4th quarter. Pictet Asset Management Ltd. now owns 1,072,438 shares of the network technology company’s stock worth $248,002,000 after purchasing an additional 224,630 shares during the period. Finally, Menora Mivtachim Holdings LTD. acquired a new position in Palo Alto Networks in the 4th quarter worth $27,634,000. 79.32% of the stock is owned by hedge funds and other institutional investors.

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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