Today: The Palo Alto Networks Inc. (PANW) Receives $178.87 Consensus Target Price from Brokerages

The Palo Alto Networks Inc. (PANW) Receives $178.87 Consensus Target Price from Brokerages

Palo Alto Networks Inc. (NYSE:PANW) has received an average rating of “Buy” from the forty-two brokerages that are presently covering the company. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, thirty-four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $179.15.

A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Palo Alto Networks from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 1st. Morgan Stanley restated an “overweight” rating and issued a $185.00 target price on shares of Palo Alto Networks in a research note on Wednesday, August 17th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $177.00 target price on shares of Palo Alto Networks in a research note on Thursday, September 1st. Argus restated a “buy” rating and issued a $205.00 target price on shares of Palo Alto Networks in a research note on Saturday, September 3rd. Finally, Citigroup Inc. lowered their target price on Palo Alto Networks from $145.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, August 31st.

Shares of Palo Alto Networks (NYSE:PANW) opened at 141.51 on Friday. The stock’s market capitalization is $12.71 billion. The firm’s 50-day moving average is $152.25 and its 200-day moving average is $140.32. Palo Alto Networks has a 1-year low of $111.09 and a 1-year high of $194.73.

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 (EPS) for the quarter, topping the 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 firm earned $398.10 million during the quarter, compared to analyst estimates of $400.20 million. During the same period in the prior year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. On average, analysts predict that Palo Alto Networks will post $2.78 earnings per share for the current fiscal year.

In other Palo Alto Networks news, Director Carl M. Eschenbach sold 894 shares of the company’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $159.08, for a total value of $142,217.52. Following the completion of the transaction, the director now owns 2,940 shares of the company’s stock, valued at approximately $467,695.20. 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 company’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $150.00, for a total value of $292,500.00. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Palo Alto Networks by 6.2% in the second quarter. Vanguard Group Inc. now owns 6,066,172 shares of the network technology company’s stock worth $743,954,000 after buying an additional 353,873 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Palo Alto Networks by 11.4% in the third quarter. Jennison Associates LLC now owns 5,312,533 shares of the network technology company’s stock worth $846,446,000 after buying an additional 543,980 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 worth $776,196,000 after buying an additional 1,137,120 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Palo Alto Networks by 11.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,161,892 shares of the network technology company’s stock worth $344,454,000 after buying an additional 229,110 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Palo Alto Networks by 122.1% in the second quarter. Alliancebernstein L.P. now owns 2,037,537 shares of the network technology company’s stock worth $249,884,000 after buying an additional 1,120,097 shares during the last quarter. 82.82% of the stock is owned by institutional investors and hedge funds.

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