Palo Alto Networks Inc. (PANW) Given Hold Rating at Deutsche Bank AG
Several other research firms also recently commented on PANW. Oppenheimer Holdings Inc. reissued an outperform rating and issued a $177.00 price objective on shares of Palo Alto Networks in a research note on Thursday, September 1st. Wunderlich restated a buy rating on shares of Palo Alto Networks in a report on Wednesday, July 6th. Nomura restated a buy rating and issued a $200.00 target price on shares of Palo Alto Networks in a report on Wednesday, August 24th. Citigroup Inc. dropped their target price on Palo Alto Networks from $145.00 to $140.00 and set a neutral rating for the company in a report on Wednesday, August 31st. Finally, Zacks Investment Research upgraded Palo Alto Networks from a strong sell rating to a hold rating in a report on Thursday, September 1st. Seven research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $181.48.
Shares of Palo Alto Networks (NYSE:PANW) opened at 150.49 on Friday. The firm’s 50-day moving average is $150.45 and its 200-day moving average is $139.71. Palo Alto Networks has a one year low of $111.09 and a one year high of $194.73. The stock’s market capitalization is $13.67 billion.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Tuesday, August 30th. The network technology company reported $0.50 EPS for the quarter, meeting 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 the consensus estimate of $389.90 million. During the same period in the prior year, the company earned $0.28 EPS. The firm’s revenue was up 41.2% compared to the same quarter last year. Equities research analysts forecast that Palo Alto Networks will post $2.78 EPS for the current year.
In other news, Director Daniel J. Warmenhoven sold 1,950 shares of Palo Alto Networks stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $159.61, for a total value of $311,239.50. Following the completion of the sale, the director now owns 530 shares of the company’s stock, valued at $84,593.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nir Zuk sold 103,152 shares of Palo Alto Networks stock in a transaction on Friday, October 7th. The shares were sold at an average price of $159.36, for a total value of $16,438,302.72. The disclosure for this sale can be found here. 4.80% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in PANW. Jennison Associates LLC increased its stake in shares of Palo Alto Networks by 32.3% in the second quarter. Jennison Associates LLC now owns 4,768,553 shares of the network technology company’s stock worth $584,815,000 after buying an additional 1,163,146 shares in the last quarter. Alliancebernstein L.P. increased its stake in Palo Alto Networks by 122.1% in the second quarter. Alliancebernstein L.P. now owns 2,037,537 shares of the network technology company’s stock worth $249,884,000 after buying an additional 1,120,097 shares during the period. Criterion Capital Management LLC increased its stake in Palo Alto Networks by 374.5% in the second quarter. Criterion Capital Management LLC now owns 610,330 shares of the network technology company’s stock worth $74,851,000 after buying an additional 481,710 shares during the period. Vanguard Group Inc. increased its stake in Palo Alto Networks by 6.2% in the second quarter. Vanguard Group Inc. now owns 6,066,172 shares of the network technology company’s stock worth $743,954,000 after buying an additional 353,873 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in Palo Alto Networks by 453.2% in the second quarter. Champlain Investment Partners LLC now owns 330,550 shares of the network technology company’s stock worth $40,539,000 after buying an additional 270,795 shares during the period. 80.06% of the stock is owned by institutional investors and hedge funds.
About Palo Alto Networks
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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