Zacks Investment Research upgraded shares of Palo Alto Networks, Inc. (NYSE:PANW) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $164.00 price target on the network technology company’s stock.
According to Zacks, “Palo Alto allows firms, service providers and government bodies to impose tighter security measures through its network security platform. Revenue growth seems to be steady, aided by strength across all its geographical regions and business segments. Also, customer wins coupled with expansion of the existing customer base are the other positives. We believe that the company’s product refreshes and acquisitions synergies will boost revenues, going forward. Also, the strategic partnerships with the likes of VMware, Splunk and Citrix, will continue to bring in customers for Palo Alto thereby boosting the top line. Notably, the stock has outperformed the industry over the last six months. Nonethess, a volatile spending environment and competition from Cisco Systems and Check Point Software Technologies remain concerns.”
PANW has been the subject of several other reports. BidaskClub upgraded Palo Alto Networks from a hold rating to a buy rating in a research report on Thursday, July 13th. Vetr upgraded Palo Alto Networks from a hold rating to a buy rating and set a $138.40 price target for the company in a research report on Monday, July 31st. Citigroup Inc. upgraded Palo Alto Networks from a neutral rating to a buy rating and raised their price target for the stock from $147.00 to $160.00 in a research report on Friday, July 7th. Piper Jaffray Companies set a $146.00 price target on Palo Alto Networks and gave the stock a buy rating in a research report on Friday, August 25th. Finally, BTIG Research restated a buy rating and set a $175.00 price target on shares of Palo Alto Networks in a research report on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirty-one have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $160.33.
Palo Alto Networks (NYSE PANW) traded down 0.58% during trading on Tuesday, reaching $149.65. The company had a trading volume of 244,626 shares. The company’s 50-day moving average is $140.68 and its 200 day moving average is $129.22. Palo Alto Networks has a 52 week low of $107.31 and a 52 week high of $165.69. The firm has a market capitalization of $13.74 billion, a price-to-earnings ratio of 55.22 and a beta of 1.09.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.92). The business had revenue of $509.00 million for the quarter, compared to analyst estimates of $487.53 million. Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. Palo Alto Networks’s revenue was up 27.0% compared to the same quarter last year. During the same period last year, the business earned $0.50 EPS. Equities analysts anticipate that Palo Alto Networks will post $3.33 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This article was originally posted by Week Herald and is owned by of Week Herald. If you are viewing this article on another publication, it was copied illegally and republished in violation of United States and international copyright legislation. The original version of this article can be read at https://weekherald.com/2017/10/11/palo-alto-networks-inc-panw-upgraded-to-buy-at-zacks-investment-research.html.
In other news, insider Nir Zuk sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $145.01, for a total transaction of $290,020.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carl M. Eschenbach sold 1,572 shares of the business’s 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 sale, the director now directly owns 3,619 shares in the company, valued at approximately $524,718.81. The disclosure for this sale can be found here. Insiders have sold a total of 50,001 shares of company stock worth $7,165,254 in the last three months. Corporate insiders own 4.80% of the company’s stock.
Several large investors have recently made changes to their positions in PANW. Global X Management Co. LLC boosted its stake in shares of Palo Alto Networks by 31.9% during the 1st quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock worth $106,000 after acquiring an additional 227 shares in the last quarter. Sun Life Financial INC boosted its stake in shares of Palo Alto Networks by 785.0% during the 2nd quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after acquiring an additional 887 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Palo Alto Networks by 30.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock worth $188,000 after acquiring an additional 322 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Palo Alto Networks during the 1st quarter worth approximately $191,000. Finally, OLD National Bancorp IN purchased a new stake in shares of Palo Alto Networks during the 2nd quarter worth approximately $201,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Palo Alto Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.