Todays Report: Today, Palo Alto Networks Inc. (PANW) Receives Consensus Recommendation of “Buy” from Analysts

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

Palo Alto Networks Inc. (NYSE:PANW) has been assigned an average recommendation of “Buy” from the forty-two analysts that are currently covering the firm. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $178.87.

PANW has been the topic of a number of research analyst reports. Vetr downgraded shares of Palo Alto Networks from a “strong-buy” rating to a “buy” rating and set a $178.24 price objective on the stock. in a research report on Monday, October 3rd. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Palo Alto Networks in a research report on Friday, September 30th. Pacific Crest reissued an “overweight” rating and set a $190.00 price objective on shares of Palo Alto Networks in a research report on Monday, August 29th. Rosenblatt Securities initiated coverage on shares of Palo Alto Networks in a research report on Monday, September 12th. They set a “buy” rating and a $175.00 price objective on the stock. Finally, Wells Fargo & Co. reissued an “outperform” rating on shares of Palo Alto Networks in a research report on Monday, September 26th.

In other news, Director Daniel J. Warmenhoven sold 1,950 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $153.75, for a total transaction of $299,812.50. Following the transaction, the director now owns 530 shares in the company, valued at $81,487.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carl M. Eschenbach sold 894 shares of the firm’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $159.08, for a total value of $142,217.52. Following the transaction, the director now owns 2,940 shares in the company, valued at approximately $467,695.20. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. purchased a new position in shares of Palo Alto Networks during the first quarter valued at approximately $5,710,000. Panagora Asset Management Inc. raised its position in shares of 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 valued at $9,633,000 after buying an additional 11,195 shares in the last quarter. First Republic Investment Management Inc. raised its position in shares of 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 valued at $14,106,000 after buying an additional 11,143 shares in the last quarter. Catamount Wealth Management purchased a new position in shares of Palo Alto Networks during the first quarter valued at approximately $2,117,000. Finally, Integrated Investment Consultants LLC raised its position 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 during the period. Hedge funds and other institutional investors own 82.82% of the company’s stock.

Palo Alto Networks (NYSE:PANW) traded up 1.30% on Friday, hitting $141.51. 1,019,414 shares of the company were exchanged. The stock’s market capitalization is $12.71 billion. The company has a 50 day moving average price of $153.01 and a 200-day moving average price of $140.31. Palo Alto Networks has a 52 week low of $111.09 and a 52 week high of $194.73.

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

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