Today: Today: Palo Alto Networks Inc. (PANW) Receives Buy Rating from BTIG Research

Today: Palo Alto Networks Inc. (PANW) Receives Buy Rating from BTIG Research

Palo Alto Networks Inc. (NYSE:PANW)‘s stock had its “buy” rating restated by BTIG Research in a report issued on Monday. They presently have a $190.00 target price on the network technology company’s stock, down from their previous target price of $210.00. BTIG Research’s price target points to a potential upside of 34.27% from the company’s previous close.

PANW has been the topic of several other reports. Nomura reiterated a “buy” rating and issued a $200.00 target price on shares of Palo Alto Networks in a report on Wednesday, August 24th. Vetr upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $152.42 target price on the stock in a report on Monday, August 22nd. Barclays PLC set a $184.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a report on Friday, August 19th. Maxim Group cut their target price on shares of Palo Alto Networks from $215.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, August 31st. Finally, Wunderlich reiterated a “buy” rating and issued a $190.00 target price on shares of Palo Alto Networks in a report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. Palo Alto Networks presently has a consensus rating of “Buy” and a consensus target price of $180.15.

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

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Monday, November 21st. The network technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 34.0% on a year-over-year basis. On average, analysts anticipate that Palo Alto Networks will post $2.78 earnings per share for the current year.

In related news, 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 transaction of $16,438,302.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel J. Warmenhoven sold 1,950 shares of the 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 directly 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 insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PANW. Winslow Evans & Crocker Inc. raised its position 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 in the last quarter. Ayalon Holdings Ltd. increased its position 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 during the last quarter. Toronto Dominion Bank increased its position in 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 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 last quarter. Finally, Amica Retiree Medical Trust acquired a new position in Palo Alto Networks during the third quarter valued at $139,000. 87.20% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Company Profile

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