Palo Alto Networks (NYSE:PANW) was upgraded by equities researchers at Evercore ISI from an “in-line” rating to an “outperform” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $180.00 target price on the network technology company’s stock. Evercore ISI’s price objective would suggest a potential upside of 14.49% from the stock’s current price.

PANW has been the topic of several other reports. BidaskClub cut Palo Alto Networks from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Oppenheimer reissued a “buy” rating and set a $173.00 price target on shares of Palo Alto Networks in a report on Tuesday, November 14th. Maxim Group reissued a “buy” rating and set a $195.00 price target (up from $168.00) on shares of Palo Alto Networks in a report on Thursday, September 28th. Zacks Investment Research cut Palo Alto Networks from a “hold” rating to a “sell” rating in a report on Monday, November 13th. Finally, Dougherty & Co increased their price target on Palo Alto Networks from $165.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirty-three have assigned a buy rating to the company. Palo Alto Networks has a consensus rating of “Buy” and an average price target of $165.74.

Palo Alto Networks (PANW) traded down $0.60 during mid-day trading on Thursday, reaching $157.22. The company had a trading volume of 1,008,935 shares, compared to its average volume of 1,000,000. The company has a market cap of $14,450.00, a PE ratio of -63.91 and a beta of 0.99. Palo Alto Networks has a fifty-two week low of $107.31 and a fifty-two week high of $158.78.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.06. The firm had revenue of $505.50 million for the quarter, compared to analysts’ expectations of $489.36 million. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. research analysts forecast that Palo Alto Networks will post -0.37 EPS for the current fiscal year.

In other Palo Alto Networks news, insider Nir Zuk sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $144.69, for a total value of $289,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark D. Mclaughlin sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $149.50, for a total transaction of $5,232,500.00. Following the completion of the sale, the chief executive officer now directly owns 348,901 shares of the company’s stock, valued at approximately $52,160,699.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 354,644 shares of company stock valued at $52,415,318. 4.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. WESPAC Advisors SoCal LLC lifted its stake in Palo Alto Networks by 2.4% in the second quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the network technology company’s stock worth $284,000 after purchasing an additional 50 shares during the last quarter. Nordea Investment Management AB lifted its stake in Palo Alto Networks by 2.2% in the second quarter. Nordea Investment Management AB now owns 2,607 shares of the network technology company’s stock worth $349,000 after purchasing an additional 55 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Palo Alto Networks by 1.2% in the second quarter. Principal Financial Group Inc. now owns 5,590 shares of the network technology company’s stock worth $748,000 after purchasing an additional 68 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its stake in Palo Alto Networks by 1.4% in the second quarter. YorkBridge Wealth Partners LLC now owns 5,198 shares of the network technology company’s stock worth $691,000 after purchasing an additional 70 shares during the last quarter. Finally, Glenview Trust Co lifted its stake in Palo Alto Networks by 2.2% in the second quarter. Glenview Trust Co now owns 4,600 shares of the network technology company’s stock worth $616,000 after purchasing an additional 100 shares during the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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