Palo Alto Networks, Inc. (NYSE:PANW) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other equities research analysts have also recently weighed in on PANW. UBS AG reaffirmed a “neutral” rating and issued a $140.00 price target (up previously from $130.00) on shares of Palo Alto Networks in a research report on Monday, June 5th. Evercore ISI set a $140.00 price target on shares of Palo Alto Networks and gave the stock a “hold” rating in a research report on Saturday, June 17th. BidaskClub cut shares of Palo Alto Networks from a “sell” rating to a “strong sell” rating in a research report on Friday. Robert W. Baird reaffirmed a “hold” rating and issued a $145.00 price target (up previously from $130.00) on shares of Palo Alto Networks in a research report on Thursday, June 1st. Finally, JMP Securities reaffirmed an “outperform” rating and issued a $165.00 price target (up previously from $155.00) on shares of Palo Alto Networks in a research report on Thursday, June 1st. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $150.94.

Shares of Palo Alto Networks (NYSE PANW) opened at 128.84 on Friday. The stock’s 50 day moving average is $135.30 and its 200-day moving average is $128.34. The stock’s market capitalization is $11.83 billion. Palo Alto Networks has a 12-month low of $107.31 and a 12-month high of $165.69.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.06. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The firm had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $412.11 million. During the same quarter in the prior year, the company earned $0.42 EPS. The company’s revenue was up 24.9% compared to the same quarter last year. On average, analysts expect that Palo Alto Networks will post $2.59 earnings per share for the current year.

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In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the stock in a transaction on Monday, July 10th. The shares were sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the transaction, the director now directly owns 271,645 shares of the company’s stock, valued at $37,478,860.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. WFG Advisors LP increased its position in Palo Alto Networks by 5.9% in the first quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock valued at $101,000 after buying an additional 50 shares in the last quarter. Global X Management Co. LLC increased its position in Palo Alto Networks by 31.9% in the first quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock valued at $106,000 after buying an additional 227 shares in the last quarter. First Interstate Bank increased its position in Palo Alto Networks by 130.7% in the first quarter. First Interstate Bank now owns 1,375 shares of the network technology company’s stock valued at $155,000 after buying an additional 779 shares in the last quarter. OLD National Bancorp IN acquired a new position in Palo Alto Networks during the second quarter valued at $201,000. Finally, Summit Securities Group LLC acquired a new position in Palo Alto Networks during the second quarter valued at $202,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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