Trade Report: Today: Palo Alto Networks Inc. (PANW) Stock Rating Reaffirm by Wells Fargo & Co.

Today: Palo Alto Networks Inc. (PANW) Stock Rating Reaffirm by Wells Fargo & Co.

Palo Alto Networks Inc. (NYSE:PANW)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wells Fargo & Co. in a note issued to investors on Monday. They currently have a $176.00 target price on the network technology company’s stock, down from their prior target price of $187.00. Wells Fargo & Co.’s price objective would suggest a potential upside of 24.37% from the company’s current price.

Several other research firms also recently commented on PANW. Barclays PLC cut their target price on Palo Alto Networks from $200.00 to $175.00 and set an “overweight” rating for the company in a research report on Tuesday, November 22nd. Royal Bank Of Canada cut their target price on Palo Alto Networks from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, November 22nd. JMP Securities cut their target price on Palo Alto Networks from $180.00 to $175.00 and set a “market outperform” rating for the company in a research report on Tuesday, November 22nd. Sanford C. Bernstein cut their target price on Palo Alto Networks from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 22nd. Finally, BTIG Research restated a “buy” rating and set a $190.00 target price on shares of Palo Alto Networks in a research report on Tuesday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Palo Alto Networks currently has a consensus rating of “Buy” and a consensus price target of $180.15.

Palo Alto Networks (NYSE:PANW) opened at 141.51 on Monday. The company’s market cap is $12.71 billion. The stock has a 50 day moving average price of $152.25 and a 200 day moving average price of $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 announced its quarterly earnings data on Monday, November 21st. The network technology company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $398.10 million for the quarter, compared to analyst estimates of $400.20 million. During the same quarter last year, the firm earned $0.35 EPS. Palo Alto Networks’s revenue for the quarter was up 34.0% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks will post $2.78 earnings per share for the current year.

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

Large investors have recently modified their holdings of the stock. Jennison Associates LLC increased its stake in shares of Palo Alto Networks by 32.3% in the second quarter. Jennison Associates LLC now owns 4,768,553 shares of the network technology company’s stock worth $584,815,000 after buying an additional 1,163,146 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 in the last quarter. Alliancebernstein L.P. increased its stake 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 in the last quarter. Criterion Capital Management LLC increased its stake in shares of Palo Alto Networks by 374.5% in the second quarter. Criterion Capital Management LLC now owns 610,330 shares of the network technology company’s stock worth $74,851,000 after buying an additional 481,710 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake 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 in the last quarter. 87.20% of the stock is currently owned by hedge funds and other institutional investors.

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