Palo Alto Networks Inc. (NYSE:PANW) had its price objective lowered by Sanford C. Bernstein from $210.00 to $200.00 in a research report released on Tuesday. Sanford C. Bernstein currently has an outperform rating on the network technology company’s stock.
Several other equities research analysts also recently weighed in on PANW. Zacks Investment Research downgraded Palo Alto Networks from a hold rating to a strong sell rating in a report on Tuesday, July 26th. Cleveland Research downgraded Palo Alto Networks from a buy rating to a neutral rating in a report on Wednesday, August 10th. Vetr downgraded Palo Alto Networks from a strong-buy rating to a buy rating and set a $138.42 price objective on the stock. in a report on Monday, August 15th. Morgan Stanley reaffirmed an overweight rating and set a $185.00 target price on shares of Palo Alto Networks in a report on Wednesday, August 17th. Finally, Barclays PLC set a $184.00 target price on Palo Alto Networks and gave the stock a buy rating in a report on Friday, August 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. Palo Alto Networks currently has a consensus rating of Buy and an average price target of $180.23.
Palo Alto Networks (NYSE:PANW) opened at 139.69 on Tuesday. The company’s 50 day moving average price is $153.01 and its 200-day moving average price is $140.31. Palo Alto Networks has a 12-month low of $111.09 and a 12-month high of $194.73. The company’s market capitalization is $12.54 billion.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Monday, November 21st. The network technology company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Palo Alto Networks had a negative return on equity of 35.75% and a negative net margin of 16.83%. The company had revenue of $398.10 million for the quarter, compared to the consensus estimate of $400.20 million. During the same quarter last year, the business posted $0.35 EPS. Palo Alto Networks’s revenue for the quarter was up 34.0% on a year-over-year basis. Equities analysts forecast that Palo Alto Networks will post $2.78 earnings per share for the current fiscal year.
In other news, insider Nir Zuk sold 103,152 shares of the firm’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $159.36, for a total transaction of $16,438,302.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Warmenhoven sold 1,950 shares of the firm’s stock in a transaction dated Tuesday, October 11th. The shares were sold at an average price of $159.61, for a total value of $311,239.50. Following the transaction, the director now directly owns 530 shares in the company, valued at $84,593.30. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Edmond DE Rothschild Monaco bought a new position in shares of Palo Alto Networks during the third quarter worth about $162,000. D.A. Davidson & CO. raised its stake in Palo Alto Networks by 24.0% in the third quarter. D.A. Davidson & CO. now owns 2,096 shares of the network technology company’s stock worth $332,000 after buying an additional 405 shares in the last quarter. Sheets Smith Wealth Management purchased a new stake in Palo Alto Networks during the third quarter worth $586,000. Price T Rowe Associates Inc. MD raised its stake in Palo Alto Networks by 30.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,871,628 shares of the network technology company’s stock worth $776,196,000 after buying an additional 1,137,120 shares in the last quarter. Finally, LPL Financial LLC raised its stake in Palo Alto Networks by 78.9% in the third quarter. LPL Financial LLC now owns 27,176 shares of the network technology company’s stock worth $4,349,000 after buying an additional 11,986 shares in the last quarter. 82.82% of the stock is currently owned by hedge funds and other institutional investors.
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