Todays Report: Today: Needham & Company LLC Reiterates Hold Rating for Palo Alto Networks Inc. (PANW)

Today: Needham & Company LLC Reiterates Hold Rating for Palo Alto Networks Inc. (PANW)

Palo Alto Networks Inc. (NYSE:PANW)‘s stock had its “hold” rating restated by equities research analysts at Needham & Company LLC in a research note issued to investors on Monday.

A number of other equities research analysts have also recently weighed in on the company. Wells Fargo & Co. reaffirmed an “outperform” rating and set a $176.00 price target (down previously from $187.00) on shares of Palo Alto Networks in a report on Monday. Barclays PLC cut their price target on Palo Alto Networks from $200.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, November 22nd. RBC Capital Markets reaffirmed an “outperform” rating and set a $175.00 price target (down previously from $185.00) on shares of Palo Alto Networks in a report on Wednesday, August 31st. Argus reaffirmed a “buy” rating and set a $205.00 price target on shares of Palo Alto Networks in a report on Saturday, September 3rd. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $170.00 price target (up previously from $167.00) on shares of Palo Alto Networks in a report on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $180.15.

Shares of Palo Alto Networks (NYSE:PANW) opened at 141.6675 on Monday. Palo Alto Networks has a 12-month low of $111.09 and a 12-month high of $194.73. The firm’s market cap is $12.72 billion. The company has a 50 day moving average price of $152.25 and a 200-day moving average price of $140.32.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Monday, November 21st. The network technology company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $398.10 million for the quarter, compared to analysts’ expectations of $400.20 million. During the same quarter last year, the company posted $0.35 earnings per share. Palo Alto Networks’s revenue was up 34.0% on a year-over-year basis. Analysts expect that Palo Alto Networks will post $2.78 EPS for the current year.

In other news, insider Nir Zuk sold 103,152 shares of the company’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $159.36, for a total transaction of $16,438,302.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel J. Warmenhoven sold 1,950 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. 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 position in shares of 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 valued at $332,000 after buying an additional 405 shares in the last quarter. Sheets Smith Wealth Management acquired a new position in shares of Palo Alto Networks during the third quarter valued at $586,000. Price T Rowe Associates Inc. MD raised its position in shares of 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 valued at $776,196,000 after buying an additional 1,137,120 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of 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 valued at $4,349,000 after buying an additional 11,986 shares in the last quarter. Institutional investors own 87.20% of the company’s stock.

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