Piper Jaffray Companies set a $155.00 price objective on Palo Alto Networks, Inc. (NYSE:PANW) in a research note published on Sunday morning. The brokerage currently has a buy rating on the network technology company’s stock.
A number of other analysts also recently issued reports on the stock. Imperial Capital raised shares of Palo Alto Networks from an in-line rating to an outperform rating and increased their price target for the stock from $137.00 to $165.00 in a report on Tuesday, September 5th. BidaskClub raised shares of Palo Alto Networks from a strong sell rating to a sell rating in a report on Thursday, August 17th. Argus raised shares of Palo Alto Networks from a hold rating to a buy rating and set a $183.00 price target on the stock in a report on Tuesday, September 5th. Stifel Nicolaus reissued a buy rating and set a $180.00 price target on shares of Palo Alto Networks in a report on Tuesday, September 5th. Finally, William Blair reissued a market perform rating on shares of Palo Alto Networks in a report on Tuesday, September 5th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $160.33.
Shares of Palo Alto Networks (PANW) opened at $138.81 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.69. Palo Alto Networks has a twelve month low of $107.31 and a twelve month high of $165.69.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) EPS 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 net margin of 12.57% and a negative return on equity of 19.72%. The firm’s revenue was up 27.0% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. research analysts forecast that Palo Alto Networks will post -0.5 EPS for the current year.
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In other Palo Alto Networks news, insider Nir Zuk sold 28,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $148.05, for a total transaction of $4,145,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carl M. Eschenbach sold 1,572 shares of the firm’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 transaction 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 sold 284,744 shares of company stock valued at $42,239,296 in the last quarter. 4.80% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Sun Life Financial INC raised its holdings in Palo Alto Networks by 785.0% during the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after purchasing an additional 887 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Palo Alto Networks during the third quarter worth approximately $162,000. Global X Management Co. LLC raised its holdings in Palo Alto Networks by 24.4% during the second quarter. Global X Management Co. LLC now owns 1,168 shares of the network technology company’s stock worth $156,000 after purchasing an additional 229 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Palo Alto Networks by 495.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock worth $178,000 after purchasing an additional 1,025 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in Palo Alto Networks by 30.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock worth $188,000 after purchasing an additional 322 shares in the last quarter. 77.50% of the stock is currently owned by institutional investors.
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.
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