Palo Alto Networks Inc (PANW) Coverage Initiated by Analysts at Monness Crespi & Hardt

Monness Crespi & Hardt initiated coverage on shares of Palo Alto Networks Inc (NYSE:PANW) in a research report released on Thursday morning. The firm issued a buy rating and a $150.00 price objective on the network technology company’s stock.

Several other research analysts also recently commented on the stock. TheStreet downgraded shares of Palo Alto Networks from a c- rating to a d+ rating in a research note on Thursday, March 23rd. Bank of America Corp reaffirmed a neutral rating and issued a $150.00 price target (down previously from $168.00) on shares of Palo Alto Networks in a research note on Saturday, March 11th. Wells Fargo & Co reaffirmed an outperform rating and issued a $185.00 price target (down previously from $195.00) on shares of Palo Alto Networks in a research note on Friday, March 3rd. Wunderlich reaffirmed a buy rating and issued a $190.00 price target on shares of Palo Alto Networks in a research note on Friday, March 3rd. Finally, Argus cut shares of Palo Alto Networks from a buy rating to a hold rating and increased their target price for the stock from $116.50 to $150.00 in a report on Friday, March 3rd. Eighteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Palo Alto Networks presently has a consensus rating of Buy and an average price target of $151.18.

Shares of Palo Alto Networks (NYSE:PANW) traded down 0.04% on Thursday, reaching $109.12. 573,054 shares of the company’s stock traded hands. Palo Alto Networks has a one year low of $107.31 and a one year high of $165.69. The company’s 50-day moving average price is $113.31 and its 200 day moving average price is $136.53. The firm’s market cap is $10.04 billion.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Tuesday, February 28th. The network technology company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The business had revenue of $422.60 million for the quarter, compared to the consensus estimate of $429.91 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 26.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, equities analysts forecast that Palo Alto Networks will post $2.48 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the company. Gilman Hill Asset Management LLC boosted its stake in Palo Alto Networks by 16.8% in the third quarter. Gilman Hill Asset Management LLC now owns 4,007 shares of the network technology company’s stock worth $638,000 after buying an additional 575 shares in the last quarter. Henderson Group PLC boosted its stake in Palo Alto Networks by 12.9% in the third quarter. Henderson Group PLC now owns 290,398 shares of the network technology company’s stock worth $46,266,000 after buying an additional 33,141 shares in the last quarter. California Public Employees Retirement System boosted its stake in Palo Alto Networks by 0.6% in the third quarter. California Public Employees Retirement System now owns 163,200 shares of the network technology company’s stock worth $26,003,000 after buying an additional 1,000 shares in the last quarter. Malaga Cove Capital LLC bought a new stake in Palo Alto Networks during the third quarter worth approximately $709,000. Finally, Oakbrook Investments LLC bought a new stake in Palo Alto Networks during the third quarter worth approximately $287,000. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

5 Day Chart for NYSE:PANW

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