Imperial Capital Reiterates “Outperform” Rating for Palo Alto Networks Inc. (PANW)
Palo Alto Networks Inc. (NYSE:PANW)‘s stock had its “outperform” rating reissued by investment analysts at Imperial Capital in a report issued on Monday. They presently have a $190.00 price objective on the network technology company’s stock. Imperial Capital’s target price would suggest a potential upside of 26.61% from the company’s previous close.
A number of other brokerages have also commented on PANW. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $177.00 target price on shares of Palo Alto Networks in a research report on Thursday, September 1st. Deutsche Bank AG lowered Palo Alto Networks from a “buy” rating to a “hold” rating and decreased their target price for the company from $210.00 to $150.00 in a research report on Friday, May 27th. Wunderlich reaffirmed a “buy” rating on shares of Palo Alto Networks in a research report on Wednesday, July 6th. Nomura reaffirmed a “buy” rating and issued a $200.00 target price on shares of Palo Alto Networks in a research report on Wednesday, August 24th. Finally, Citigroup Inc. decreased their target price on Palo Alto Networks from $145.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, August 31st. Eight research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Palo Alto Networks has a consensus rating of “Buy” and a consensus target price of $180.96.
Shares of Palo Alto Networks (NYSE:PANW) opened at 150.07 on Monday. Palo Alto Networks has a 1-year low of $111.09 and a 1-year high of $194.73. The company’s market cap is $13.63 billion. The firm has a 50-day moving average price of $138.98 and a 200 day moving average price of $139.31.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Tuesday, August 30th. The network technology company reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Palo Alto Networks had a negative return on equity of 34.28% and a negative net margin of 16.39%. The firm earned $400.80 million during the quarter, compared to analyst estimates of $389.90 million. During the same period last year, the company posted $0.28 EPS. The business’s quarterly revenue was up 41.2% on a year-over-year basis. On average, analysts predict that Palo Alto Networks will post $2.78 EPS for the current fiscal year.
In other news, CEO Mark D. Mclaughlin sold 70,000 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $140.00, for a total transaction of $9,800,000.00. Following the completion of the sale, the chief executive officer now directly owns 667,303 shares in the company, valued at $93,422,420. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rene Bonvanie sold 12,339 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $150.00, for a total transaction of $1,850,850.00. Following the sale, the insider now owns 133,601 shares of the company’s stock, valued at $20,040,150. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Middleton & Co Inc MA raised its stake in Palo Alto Networks by 79.7% in the first quarter. Middleton & Co Inc MA now owns 10,465 shares of the network technology company’s stock worth $1,707,000 after buying an additional 4,641 shares in the last quarter. Mn Services Vermogensbeheer B.V. bought a new position in Palo Alto Networks during the first quarter worth about $292,000. Aperio Group LLC increased its position in Palo Alto Networks by 1.5% in the first quarter. Aperio Group LLC now owns 15,047 shares of the network technology company’s stock worth $2,455,000 after buying an additional 220 shares during the last quarter. Commonwealth Equity Services Inc increased its position in Palo Alto Networks by 20.7% in the first quarter. Commonwealth Equity Services Inc now owns 24,182 shares of the network technology company’s stock worth $3,945,000 after buying an additional 4,139 shares during the last quarter. Finally, Telemus Capital LLC bought a new position in Palo Alto Networks during the first quarter worth about $1,576,000. Institutional investors own 80.06% of the company’s stock.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s Next-Generation Firewall delivers application, user, and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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