Palo Alto Networks Inc (PANW) Receives Consensus Recommendation of “Buy” from Analysts

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Shares of Palo Alto Networks Inc (NYSE:PANW) have received an average recommendation of “Buy” from the forty-one analysts that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, thirty-one have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $239.36.

Several brokerages have issued reports on PANW. UBS Group upgraded Palo Alto Networks to a “neutral” rating in a report on Wednesday, October 3rd. Morgan Stanley upped their target price on Palo Alto Networks to $276.00 and gave the company a “top pick” rating in a report on Monday, October 8th. Zacks Investment Research upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a report on Tuesday, October 9th. Robert W. Baird restated an “outperform” rating on shares of Palo Alto Networks in a report on Thursday, October 18th. Finally, Wedbush began coverage on Palo Alto Networks in a report on Thursday, October 18th. They issued a “neutral” rating and a $225.00 target price for the company.

In other news, Director Mark D. Mclaughlin sold 6,736 shares of the stock in a transaction on Wednesday, January 9th. The stock was sold at an average price of $195.00, for a total transaction of $1,313,520.00. Following the completion of the transaction, the director now directly owns 221,926 shares in the company, valued at approximately $43,275,570. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $184.23, for a total value of $7,369,200.00. Following the transaction, the director now owns 256,952 shares of the company’s stock, valued at $47,338,266.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,194 shares of company stock valued at $26,307,826. Company insiders own 3.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. North Star Investment Management Corp. lifted its stake in Palo Alto Networks by 28.6% during the 4th quarter. North Star Investment Management Corp. now owns 450 shares of the network technology company’s stock worth $85,000 after acquiring an additional 100 shares in the last quarter. Banco de Sabadell S.A acquired a new position in Palo Alto Networks during the 2nd quarter worth about $103,000. First Manhattan Co. acquired a new position in Palo Alto Networks during the 3rd quarter worth about $106,000. Price Capital Management Inc. acquired a new position in Palo Alto Networks during the 3rd quarter worth about $113,000. Finally, NEXT Financial Group Inc acquired a new position in Palo Alto Networks during the 3rd quarter worth about $125,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

NYSE PANW traded down $0.03 during mid-day trading on Friday, hitting $195.97. The stock had a trading volume of 865,487 shares, compared to its average volume of 1,104,711. Palo Alto Networks has a twelve month low of $148.41 and a twelve month high of $239.50. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market cap of $18.32 billion, a P/E ratio of -356.31, a P/E/G ratio of 11.58 and a beta of 0.81.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Thursday, November 29th. The network technology company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Palo Alto Networks had a negative return on equity of 1.72% and a negative net margin of 5.04%. The firm had revenue of $656.00 million during the quarter, compared to the consensus estimate of $632.16 million. During the same period in the prior year, the company earned $0.74 EPS. The firm’s revenue was up 30.7% compared to the same quarter last year. As a group, sell-side analysts predict that Palo Alto Networks will post 0.71 EPS for the current fiscal year.

Palo Alto Networks Company Profile

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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