PANW has been the subject of a number of other reports. Zacks Investment Research upgraded Palo Alto Networks from a strong sell rating to a hold rating in a research note on Thursday, September 1st. Morgan Stanley restated an overweight rating and issued a $185.00 target price on shares of Palo Alto Networks in a research note on Wednesday, August 17th. Oppenheimer Holdings Inc. restated an outperform rating and issued a $177.00 target price on shares of Palo Alto Networks in a research note on Thursday, September 1st. Argus restated a buy rating and issued a $205.00 target price on shares of Palo Alto Networks in a research note on Saturday, September 3rd. Finally, Citigroup Inc. lowered their target price on Palo Alto Networks from $145.00 to $140.00 and set a neutral rating for the company in a research note on Wednesday, August 31st. Seven research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Palo Alto Networks presently has a consensus rating of Buy and a consensus price target of $181.48.
Shares of Palo Alto Networks (NYSE:PANW) opened at 150.49 on Friday. Palo Alto Networks has a one year low of $111.09 and a one year high of $194.73. The firm has a 50-day moving average of $150.45 and a 200-day moving average of $139.71. The firm’s market capitalization is $13.67 billion.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Tuesday, August 30th. The network technology company reported $0.50 earnings per share (EPS) for the quarter, hitting the 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 analyst estimates of $389.90 million. During the same period in the prior year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was up 41.2% compared to the same quarter last year. On average, equities analysts predict that Palo Alto Networks will post $2.78 earnings per share for the current fiscal year.
In related news, Director Carl M. Eschenbach sold 894 shares of the stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $159.08, for a total transaction of $142,217.52. Following the completion of the sale, the director now directly owns 2,940 shares of the company’s stock, valued at $467,695.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Warmenhoven sold 1,950 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $150.00, for a total value of $292,500.00. The disclosure for this sale can be found here. 4.80% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. 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 during 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 in the last quarter. 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 in the last quarter. 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. 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 in the last quarter. 80.06% of the stock is owned by institutional investors.
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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