The Palo Alto Networks Inc. (PANW) Rating Increased to Strong-Buy at Vetr Inc.

The Palo Alto Networks Inc. (PANW) Rating Increased to Strong-Buy at Vetr Inc.

Palo Alto Networks Inc. (NYSE:PANW) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday. The brokerage currently has a $178.24 price target on the network technology company’s stock. Vetr‘s price objective suggests a potential upside of 15.58% from the stock’s previous close.

Several other research analysts also recently commented on PANW. Piper Jaffray Cos. reiterated an “overweight” rating and set a $170.00 target price (up from $167.00) on shares of Palo Alto Networks in a research note on Wednesday, August 31st. Argus reiterated a “buy” rating and set a $205.00 target price on shares of Palo Alto Networks in a research note on Saturday, September 3rd. RBC Capital Markets reiterated an “outperform” rating and set a $175.00 target price (down from $185.00) on shares of Palo Alto Networks in a research note on Wednesday, August 31st. Macquarie assumed coverage on Palo Alto Networks in a research note on Friday, July 8th. They set a “neutral” rating and a $139.00 target price for the company. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $177.00 target price on shares of Palo Alto Networks in a research note on Thursday, September 1st. Eight 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 has an average rating of “Buy” and an average target price of $181.48.

Shares of Palo Alto Networks (NYSE:PANW) opened at 154.22 on Tuesday. The firm has a 50-day moving average price of $149.85 and a 200-day moving average price of $139.67. The company’s market capitalization is $14.01 billion. Palo Alto Networks has a 12 month low of $111.09 and a 12 month high of $194.73.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Tuesday, August 30th. The network technology company reported $0.50 EPS for the quarter, hitting the Thomson Reuters’ 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 company earned $400.80 million during the quarter, compared to the consensus estimate of $389.90 million. During the same period in the previous year, the company posted $0.28 EPS. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. On average, equities research analysts predict that Palo Alto Networks will post $2.78 EPS for the current year.

In other Palo Alto Networks news, Director Carl M. Eschenbach sold 894 shares of the stock in a transaction 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 transaction, the director now directly owns 2,940 shares of the company’s stock, valued at $467,695.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nir Zuk sold 103,152 shares of the stock in a transaction on Friday, October 7th. The shares were sold at an average price of $159.36, for a total value of $16,438,302.72. The disclosure for this sale can be found here. 4.80% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Wunderlich Capital Managemnt bought a new stake in Palo Alto Networks during the first quarter valued at about $103,000. Winslow Evans & Crocker Inc. increased its stake in Palo Alto Networks by 10.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 814 shares of the network technology company’s stock valued at $100,000 after buying an additional 76 shares in the last quarter. Ayalon Holdings Ltd. increased its stake in Palo Alto Networks by 110.0% in the second quarter. Ayalon Holdings Ltd. now owns 840 shares of the network technology company’s stock valued at $102,000 after buying an additional 440 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in Palo Alto Networks by 6.7% in the second quarter. Integrated Investment Consultants LLC now owns 1,040 shares of the network technology company’s stock valued at $128,000 after buying an additional 65 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in Palo Alto Networks by 128.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,155 shares of the network technology company’s stock valued at $142,000 after buying an additional 649 shares in the last quarter. 80.06% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Company Profile

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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