Palo Alto Networks Inc (PANW) Receives Average Rating of “Buy” from Analysts

Shares of Palo Alto Networks Inc (NYSE:PANW) have earned an average recommendation of “Buy” from the forty-seven ratings firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and thirty-eight have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $183.93.

Several analysts have issued reports on PANW shares. Zacks Investment Research raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research note on Tuesday, November 28th. Dougherty & Co reissued a “buy” rating and set a $180.00 target price (up from $170.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Oppenheimer reissued a “buy” rating and set a $180.00 target price (up from $173.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Jefferies Group reissued a “buy” rating and set a $183.00 target price (up from $168.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Finally, Deutsche Bank raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Tuesday, January 23rd.

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Shares of PANW stock traded down $1.55 during trading hours on Friday, hitting $187.46. The stock had a trading volume of 1,215,102 shares, compared to its average volume of 2,044,648. Palo Alto Networks has a one year low of $107.31 and a one year high of $191.53. The firm has a market cap of $17,217.83, a P/E ratio of -86.39 and a beta of 0.91.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Monday, February 26th. The network technology company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.19). Palo Alto Networks had a negative net margin of 9.96% and a negative return on equity of 14.74%. The company had revenue of $542.40 million for the quarter, compared to analyst estimates of $525.37 million. analysts anticipate that Palo Alto Networks will post -0.37 earnings per share for the current year.

In other Palo Alto Networks news, Director Stanley J. Meresman sold 1,980 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $188.74, for a total transaction of $373,705.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 28,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $148.08, for a total transaction of $4,146,240.00. Following the sale, the executive vice president now directly owns 1,467,309 shares of the company’s stock, valued at approximately $217,279,116.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 397,980 shares of company stock valued at $62,407,135. Corporate insiders own 4.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PANW. Sands Capital Management LLC increased its holdings in shares of Palo Alto Networks by 27.7% during the fourth quarter. Sands Capital Management LLC now owns 3,962,586 shares of the network technology company’s stock worth $574,337,000 after buying an additional 860,117 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Palo Alto Networks by 18.4% in the fourth quarter. Renaissance Technologies LLC now owns 4,379,100 shares of the network technology company’s stock valued at $634,707,000 after purchasing an additional 681,200 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Palo Alto Networks by 335.9% in the fourth quarter. Millennium Management LLC now owns 803,544 shares of the network technology company’s stock valued at $116,466,000 after purchasing an additional 619,215 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $70,582,000. Finally, Hunt Lane Capital LP acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $53,222,000. 82.12% of the stock is owned by institutional investors.

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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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