Oppenheimer Holdings, Inc. Reiterates “Buy” Rating for Palo Alto Networks, Inc. (PANW)

Palo Alto Networks, Inc. (NYSE:PANW)‘s stock had its “buy” rating restated by stock analysts at Oppenheimer Holdings, Inc. in a research note issued on Monday. They presently have a $173.00 target price on the network technology company’s stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 21.09% from the company’s previous close.

Several other research analysts have also commented on PANW. UBS AG restated a “neutral” rating and set a $140.00 price target (up from $130.00) on shares of Palo Alto Networks in a research report on Monday, June 5th. Evercore ISI set a $140.00 price target on Palo Alto Networks and gave the stock a “hold” rating in a research report on Saturday, June 17th. ValuEngine upgraded Palo Alto Networks from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. BidaskClub upgraded Palo Alto Networks from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 17th. Finally, Argus upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $183.00 price target for the company in a research report on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $157.91.

Palo Alto Networks (NYSE:PANW) opened at 142.87 on Monday. Palo Alto Networks has a 12-month low of $107.31 and a 12-month high of $165.69. The stock’s market cap is $13.12 billion. The company’s 50-day moving average price is $135.34 and its 200-day moving average price is $126.14.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.92). The business had revenue of $509.00 million during the quarter, compared to analysts’ expectations of $487.53 million. Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The company’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 earnings per share. On average, equities analysts expect that Palo Alto Networks will post $3.34 EPS for the current fiscal year.

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In related news, Director James J. Goetz sold 30,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the completion of the transaction, the director now directly owns 271,645 shares in the company, valued at approximately $37,478,860.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl M. Eschenbach sold 1,572 shares of Palo Alto Networks stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $144.99, for a total value of $227,924.28. Following the transaction, the director now owns 3,619 shares of the company’s stock, valued at $524,718.81. The disclosure for this sale can be found here. Insiders have sold a total of 78,001 shares of company stock valued at $11,014,834 over the last 90 days. Insiders own 4.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of PANW. Capstone Asset Management Co. raised its holdings in Palo Alto Networks by 19.6% in the 1st quarter. Capstone Asset Management Co. now owns 2,254 shares of the network technology company’s stock valued at $254,000 after acquiring an additional 370 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Palo Alto Networks by 1,900.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the network technology company’s stock valued at $225,000 after acquiring an additional 1,900 shares during the last quarter. Waldron LP raised its holdings in Palo Alto Networks by 105.2% in the 1st quarter. Waldron LP now owns 12,850 shares of the network technology company’s stock valued at $1,749,000 after acquiring an additional 6,587 shares during the last quarter. ProShare Advisors LLC raised its holdings in Palo Alto Networks by 10.8% in the 1st quarter. ProShare Advisors LLC now owns 2,172 shares of the network technology company’s stock valued at $245,000 after acquiring an additional 211 shares during the last quarter. Finally, World Asset Management Inc raised its holdings in Palo Alto Networks by 26.4% in the 1st quarter. World Asset Management Inc now owns 4,020 shares of the network technology company’s stock valued at $453,000 after acquiring an additional 839 shares during the last quarter. Institutional investors own 77.00% of the company’s stock.

About Palo Alto Networks

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.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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