Palo Alto Networks (NYSE:PANW) PT Lowered to $240.00 at Piper Sandler

Share on StockTwits

Palo Alto Networks (NYSE:PANW) had its price objective decreased by Piper Sandler from $255.00 to $240.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. Piper Sandler currently has a neutral rating on the network technology company’s stock.

Several other research analysts have also commented on PANW. First Analysis lowered Palo Alto Networks from a strong-buy rating to an outperform rating and cut their price target for the stock from $295.00 to $290.00 in a research report on Tuesday, January 14th. Wells Fargo & Co cut their price target on Palo Alto Networks from $275.00 to $250.00 and set an overweight rating on the stock in a research report on Tuesday. Rosenblatt Securities reaffirmed a hold rating and set a $220.00 price target on shares of Palo Alto Networks in a research report on Tuesday, November 26th. Zacks Investment Research raised Palo Alto Networks from a strong sell rating to a hold rating and set a $201.00 price target on the stock in a research report on Tuesday, January 28th. Finally, Credit Suisse Group reaffirmed a sell rating and set a $195.00 price target on shares of Palo Alto Networks in a research report on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have given a buy rating to the company. Palo Alto Networks presently has an average rating of Buy and a consensus target price of $249.50.

Shares of NYSE PANW traded down $2.94 during midday trading on Tuesday, hitting $184.62. 3,584,448 shares of the company’s stock were exchanged, compared to its average volume of 1,332,661. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.78 and a quick ratio of 1.78. Palo Alto Networks has a twelve month low of $181.06 and a twelve month high of $251.10. The company has a market cap of $18.32 billion, a PE ratio of -102.57 and a beta of 0.96. The firm’s fifty day simple moving average is $238.23 and its 200-day simple moving average is $225.36.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Monday, February 24th. The network technology company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.12 by $0.07. The company had revenue of $816.70 million for the quarter, compared to analyst estimates of $842.13 million. Palo Alto Networks had a negative return on equity of 2.23% and a negative net margin of 5.58%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 earnings per share. Equities analysts anticipate that Palo Alto Networks will post -0.12 EPS for the current fiscal year.

In related news, Director Mark D. Mclaughlin sold 19,050 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $249.03, for a total value of $4,744,021.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.86, for a total value of $2,818,320.00. Following the sale, the executive vice president now owns 875,246 shares in the company, valued at $205,560,275.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,562 shares of company stock worth $11,132,020. Company insiders own 2.30% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Andra AP fonden increased its stake in Palo Alto Networks by 10.9% during the third quarter. Andra AP fonden now owns 18,300 shares of the network technology company’s stock worth $3,730,000 after acquiring an additional 1,800 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Palo Alto Networks by 480.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 131,409 shares of the network technology company’s stock valued at $26,785,000 after purchasing an additional 108,753 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Palo Alto Networks by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 254,365 shares of the network technology company’s stock worth $58,822,000 after acquiring an additional 9,306 shares in the last quarter. DNB Asset Management AS boosted its position in shares of Palo Alto Networks by 297.0% in the fourth quarter. DNB Asset Management AS now owns 39,915 shares of the network technology company’s stock worth $9,230,000 after buying an additional 29,860 shares during the period. Finally, Gateway Investment Advisers LLC boosted its position in Palo Alto Networks by 0.4% during the fourth quarter. Gateway Investment Advisers LLC now owns 19,937 shares of the network technology company’s stock valued at $4,610,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 79.32% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

Recommended Story: Economic Reports

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.