Todays Report: Today, Palo Alto Networks Inc. (PANW) Earns “Buy” Rating from BTIG Research

Today, Palo Alto Networks Inc. (PANW) Earns “Buy” Rating from BTIG Research

BTIG Research reissued their buy rating on shares of Palo Alto Networks Inc. (NYSE:PANW) in a research report report published on Tuesday morning. BTIG Research currently has a $190.00 target price on the network technology company’s stock.

PANW has been the topic of several other reports. Wunderlich reiterated a buy rating and set a $190.00 price target on shares of Palo Alto Networks in a report on Tuesday, September 13th. Deutsche Bank AG reiterated a hold rating on shares of Palo Alto Networks in a report on Saturday, October 15th. Pacific Crest reiterated an overweight rating and set a $190.00 price target on shares of Palo Alto Networks in a report on Monday, August 29th. Cleveland Research downgraded shares of Palo Alto Networks from a buy rating to a neutral rating in a report on Wednesday, August 10th. Finally, Royal Bank Of Canada cut their price target on shares of Palo Alto Networks from $185.00 to $175.00 and set an outperform rating on the stock in a report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $180.23.

Palo Alto Networks (NYSE:PANW) opened at 139.69 on Tuesday. The stock’s 50 day moving average is $153.01 and its 200 day moving average is $140.31. Palo Alto Networks has a 12-month low of $111.09 and a 12-month high of $194.73. The stock’s market capitalization is $12.54 billion.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Monday, November 21st. The network technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $398.10 million for the quarter, compared to the consensus estimate of $400.20 million. Palo Alto Networks had a negative net margin of 16.83% and a negative return on equity of 35.75%. The firm’s revenue was up 34.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 EPS. Equities analysts predict that Palo Alto Networks will post $2.78 earnings per share for the current fiscal year.

In other news, CEO Mark D. Mclaughlin sold 26,423 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $144.29, for a total value of $3,812,574.67. Following the sale, the chief executive officer now directly owns 540,880 shares of the company’s stock, valued at approximately $78,043,575.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Warmenhoven sold 1,950 shares of the business’s stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $159.61, for a total transaction of $311,239.50. Following the completion of the sale, the director now directly owns 530 shares in the company, valued at $84,593.30. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in PANW. Adage Capital Partners GP L.L.C. bought a new stake in Palo Alto Networks during the first quarter worth about $5,710,000. Envestnet Asset Management Inc. increased its stake in Palo Alto Networks by 30.1% in the first quarter. Envestnet Asset Management Inc. now owns 22,501 shares of the network technology company’s stock worth $3,671,000 after buying an additional 5,203 shares during the period. Panagora Asset Management Inc. increased its stake in Palo Alto Networks by 23.4% in the first quarter. Panagora Asset Management Inc. now owns 59,045 shares of the network technology company’s stock worth $9,633,000 after buying an additional 11,195 shares during the period. Eachwin Capital LP bought a new stake in Palo Alto Networks during the first quarter worth about $441,000. Finally, First Republic Investment Management Inc. increased its stake in Palo Alto Networks by 14.8% in the first quarter. First Republic Investment Management Inc. now owns 86,474 shares of the network technology company’s stock worth $14,106,000 after buying an additional 11,143 shares during the period. 82.82% of the stock is currently owned by institutional investors and hedge funds.

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