Maxim Group Reaffirms Buy Rating for Palo Alto Networks, Inc. (PANW)

Palo Alto Networks, Inc. (NYSE:PANW)‘s stock had its “buy” rating reiterated by stock analysts at Maxim Group in a research report issued on Friday, September 1st. They presently have a $168.00 price target on the network technology company’s stock. Maxim Group’s price target would indicate a potential upside of 16.64% from the company’s current price.

A number of other brokerages have also recently weighed in on PANW. BidaskClub raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. UBS AG restated a “neutral” rating and issued a $140.00 price objective (up from $130.00) on shares of Palo Alto Networks in a research note on Monday, June 5th. Susquehanna Bancshares Inc initiated coverage on shares of Palo Alto Networks in a research note on Wednesday, June 7th. They set a “neutral” rating and a $145.00 price target on the stock. Barclays PLC restated an “overweight” rating and set a $158.00 target price (up from $145.00) on shares of Palo Alto Networks in a research report on Thursday, June 1st. Finally, Citigroup Inc. restated a “neutral” rating and set a $147.00 target price (up from $130.00) on shares of Palo Alto Networks in a research report on Thursday, June 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $157.91.

Palo Alto Networks (NYSE:PANW) traded up 1.11% on Friday, hitting $145.63. The stock had a trading volume of 112,052 shares. 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 $13.37 billion. The firm’s 50 day moving average price is $133.97 and its 200-day moving average price is $126.23.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by $0.92. The business had revenue of $509 million during the quarter, compared to analysts’ expectations of $487.53 million. Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The business’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. On average, analysts forecast that Palo Alto Networks will post $3.34 EPS for the current year.

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In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the stock in a transaction on Monday, July 10th. The shares were sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the transaction, the director now directly owns 271,645 shares in the company, valued at approximately $37,478,860.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Flinton Capital Management LLC lifted its position in shares of Palo Alto Networks by 94.8% in the 1st quarter. Flinton Capital Management LLC now owns 9,072 shares of the network technology company’s stock worth $1,022,000 after buying an additional 4,416 shares during the last quarter. Halbert Hargrove Russell LLC lifted its position in shares of Palo Alto Networks by 12,520.8% in the 1st quarter. Halbert Hargrove Russell LLC now owns 3,029 shares of the network technology company’s stock worth $341,000 after buying an additional 3,005 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Palo Alto Networks in the 2nd quarter worth about $415,000. Mogy Joel R Investment Counsel Inc. lifted its position in shares of Palo Alto Networks by 18.6% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 28,168 shares of the network technology company’s stock worth $3,174,000 after buying an additional 4,420 shares during the last quarter. Finally, Endurance Wealth Management Inc. lifted its position in shares of Palo Alto Networks by 33.5% in the 1st quarter. Endurance Wealth Management Inc. now owns 3,599 shares of the network technology company’s stock worth $405,000 after buying an additional 904 shares during the last quarter. Hedge funds and other institutional investors own 77.05% 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.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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