Palo Alto Networks (NYSE:PANW) Upgraded at ValuEngine

ValuEngine upgraded shares of Palo Alto Networks (NYSE:PANW) from a hold rating to a buy rating in a report issued on Tuesday morning, ValuEngine reports.

PANW has been the subject of several other research reports. Robert W. Baird restated a buy rating and set a $275.00 target price on shares of Palo Alto Networks in a research report on Wednesday, August 14th. Rosenblatt Securities assumed coverage on Palo Alto Networks in a report on Monday. They issued a hold rating and a $220.00 price target for the company. Wells Fargo & Co lowered their price target on Palo Alto Networks from $300.00 to $275.00 and set an overweight rating for the company in a report on Thursday, September 5th. KeyCorp lowered their target price on Palo Alto Networks from $280.00 to $250.00 and set an overweight rating for the company in a report on Thursday, September 5th. Finally, Wedbush restated a buy rating and set a $275.00 target price on shares of Palo Alto Networks in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Palo Alto Networks currently has a consensus rating of Buy and an average price target of $261.23.

Shares of Palo Alto Networks stock traded down $1.34 during trading hours on Tuesday, hitting $207.90. The company’s stock had a trading volume of 36,257 shares, compared to its average volume of 1,930,395. The business has a 50 day moving average price of $212.09 and a two-hundred day moving average price of $223.04. Palo Alto Networks has a 12-month low of $160.08 and a 12-month high of $260.63. The company has a market cap of $20.06 billion, a PE ratio of 329.81, a PEG ratio of 18.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.86 and a current ratio of 1.78.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Wednesday, September 4th. The network technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.08). Palo Alto Networks had a positive return on equity of 4.82% and a negative net margin of 2.82%. The firm had revenue of $805.80 million during the quarter, compared to the consensus estimate of $803.56 million. During the same period last year, the firm posted $1.28 earnings per share. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, research analysts anticipate that Palo Alto Networks will post 0.47 earnings per share for the current year.

In other news, CFO Kathleen Bonanno sold 1,609 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $224.00, for a total transaction of $360,416.00. Following the sale, the chief financial officer now directly owns 28,572 shares of the company’s stock, valued at approximately $6,400,128. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $205.14, for a total transaction of $8,205,600.00. Following the sale, the director now directly owns 245,221 shares in the company, valued at $50,304,635.94. The disclosure for this sale can be found here. Insiders have sold a total of 119,220 shares of company stock worth $25,827,116 over the last ninety days. 3.10% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Berman Capital Advisors LLC lifted its stake in Palo Alto Networks by 32.1% in the 1st quarter. Berman Capital Advisors LLC now owns 177 shares of the network technology company’s stock valued at $42,000 after buying an additional 43 shares in the last quarter. Piedmont Investment Advisors Inc. raised its holdings in Palo Alto Networks by 0.7% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 6,661 shares of the network technology company’s stock valued at $1,618,000 after acquiring an additional 46 shares during the last quarter. Oakbrook Investments LLC raised its holdings in Palo Alto Networks by 2.0% in the 2nd quarter. Oakbrook Investments LLC now owns 2,525 shares of the network technology company’s stock valued at $514,000 after acquiring an additional 50 shares during the last quarter. Captrust Financial Advisors raised its holdings in Palo Alto Networks by 15.9% in the 2nd quarter. Captrust Financial Advisors now owns 402 shares of the network technology company’s stock valued at $82,000 after acquiring an additional 55 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its holdings in Palo Alto Networks by 4.5% in the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 1,283 shares of the network technology company’s stock valued at $261,000 after acquiring an additional 55 shares during the last quarter. 79.57% of the stock is currently owned by institutional investors and hedge funds.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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