Research analysts at Wells Fargo & Company began coverage on shares of Palo Alto Networks, Inc. (NYSE:PANW) in a research note issued to investors on Wednesday. The brokerage set an “outperform” rating on the network technology company’s stock.

PANW has been the topic of several other research reports. Wunderlich reissued a “buy” rating and set a $190.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, September 13th. Deutsche Bank AG reissued a “hold” rating on shares of Palo Alto Networks in a research note on Saturday, October 15th. Summit Redstone began coverage on shares of Palo Alto Networks in a research note on Friday, December 2nd. They set a “hold” rating and a $120.00 price objective on the stock. Piper Jaffray Companies reissued a “positive” rating on shares of Palo Alto Networks in a research note on Wednesday, December 21st. Finally, BTIG Research reissued a “buy” rating and set a $190.00 price objective (down previously from $210.00) on shares of Palo Alto Networks in a research note on Monday, November 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $173.30.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

Palo Alto Networks (NYSE:PANW) opened at 136.36 on Wednesday. Palo Alto Networks has a 52 week low of $111.09 and a 52 week high of $165.69. The firm’s market cap is $12.50 billion. The stock’s 50 day moving average is $130.11 and its 200 day moving average is $139.23.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Monday, November 21st. The network technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. Palo Alto Networks had a negative net margin of 16.83% and a negative return on equity of 35.75%. The business had revenue of $398.10 million for the quarter, compared to analyst estimates of $400.20 million. During the same quarter last year, the firm earned $0.35 EPS. Palo Alto Networks’s quarterly revenue was up 34.0% compared to the same quarter last year. Equities research analysts expect that Palo Alto Networks will post $2.78 EPS for the current year.

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In other news, President Mark Anderson sold 17,945 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $139.56, for a total value of $2,504,404.20. Following the completion of the transaction, the president now owns 269,763 shares of the company’s stock, valued at $37,648,124.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Warmenhoven sold 1,950 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $150.13, for a total value of $292,753.50. Following the completion of the transaction, the director now directly owns 530 shares of the company’s stock, valued at approximately $79,568.90. The disclosure for this sale can be found here. 4.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PANW. 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 in the last quarter. Jennison Associates LLC increased its stake in Palo Alto Networks by 11.4% in the third quarter. Jennison Associates LLC now owns 5,312,533 shares of the network technology company’s stock worth $846,446,000 after buying an additional 543,980 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Palo Alto Networks by 30.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,871,628 shares of the network technology company’s stock worth $776,196,000 after buying an additional 1,137,120 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Palo Alto Networks by 11.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,161,892 shares of the network technology company’s stock worth $344,454,000 after buying an additional 229,110 shares in the last quarter. Finally, 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 in the last quarter. 86.69% of the stock is owned by institutional investors.

About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its 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.

5 Day Chart for NYSE:PANW

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