Today, Oppenheimer Holdings Inc. Reiterates Outperform Rating for Palo Alto Networks Inc. (PANW)

Today, Oppenheimer Holdings Inc. Reiterates Outperform Rating for Palo Alto Networks Inc. (PANW)

Palo Alto Networks Inc. (NYSE:PANW)‘s stock had its “outperform” rating restated by analysts at Oppenheimer Holdings Inc. in a research note issued on Monday. They currently have a $184.00 target price on the network technology company’s stock. Oppenheimer Holdings Inc.’s price target suggests a potential upside of 35.04% from the company’s current price.

PANW has been the subject of a number of other research reports. Cleveland Research lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, August 10th. Vetr lowered shares of Palo Alto Networks from a “strong-buy” rating to a “buy” rating and set a $138.42 price objective for the company. in a report on Monday, August 15th. Morgan Stanley reiterated an “overweight” rating and issued a $185.00 price objective on shares of Palo Alto Networks in a report on Wednesday, August 17th. Barclays PLC set a $184.00 price objective on shares of Palo Alto Networks and gave the company a “buy” rating in a report on Friday, August 19th. Finally, Nomura reiterated a “buy” rating and issued a $200.00 price objective on shares of Palo Alto Networks in a report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $180.34.

Shares of Palo Alto Networks (NYSE:PANW) traded down 3.71% on Monday, reaching $136.26. 3,227,223 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $152.25 and its 200-day moving average price is $140.32. Palo Alto Networks has a 52-week low of $111.09 and a 52-week high of $194.73. The stock’s market cap is $12.24 billion.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, November 21st. The network technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The firm earned $398.10 million during the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. Equities analysts forecast that Palo Alto Networks will post $2.78 EPS for the current fiscal year.

In other Palo Alto Networks news, insider Nir Zuk sold 76,848 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $150.15, for a total value of $11,538,727.20. Following the completion of the sale, the insider now owns 1,983,157 shares in the company, valued at $297,771,023.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Mark Anderson sold 17,945 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $139.56, for a total value of $2,504,404.20. Following the completion of the sale, the president now owns 269,763 shares of the company’s stock, valued at approximately $37,648,124.28. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in PANW. Winslow Evans & Crocker Inc. increased its stake in shares of 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 during the last quarter. Ayalon Holdings Ltd. increased its stake in shares of 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 during the last quarter. Toronto Dominion Bank increased its stake in shares of Palo Alto Networks by 59.3% in the third quarter. Toronto Dominion Bank now owns 774 shares of the network technology company’s stock valued at $123,000 after buying an additional 288 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in shares of 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 last quarter. Finally, Amica Retiree Medical Trust bought a new stake in shares of Palo Alto Networks during the third quarter valued at $139,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.

Palo Alto Networks Company Profile

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