Vetr upgraded shares of Palo Alto Networks, Inc. (NYSE:PANW) from a hold rating to a buy rating in a research note released on Monday, July 31st. They currently have $138.40 price target on the network technology company’s stock.
A number of other analysts also recently issued reports on PANW. UBS AG reissued a neutral rating and set a $140.00 price objective (up from $130.00) on shares of Palo Alto Networks in a research report on Monday, June 5th. Evercore ISI set a $140.00 price objective on Palo Alto Networks and gave the stock a hold rating in a research report on Saturday, June 17th. FBN Securities downgraded Palo Alto Networks from an outperform rating to a sector perform rating and cut their price objective for the stock from $135.00 to $115.00 in a research report on Monday, April 17th. Monness Crespi & Hardt raised their price objective on Palo Alto Networks from $150.00 to $155.00 and gave the stock a buy rating in a research report on Thursday, June 1st. Finally, BidaskClub downgraded Palo Alto Networks from a buy rating to a hold rating in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $150.94.
Shares of Palo Alto Networks (PANW) opened at 130.27 on Monday. Palo Alto Networks has a 12 month low of $107.31 and a 12 month high of $165.69. The company’s market cap is $11.96 billion. The company has a 50-day moving average of $134.58 and a 200 day moving average of $127.85.
Palo Alto Networks (NYSE:PANW) last issued its earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.06. Palo Alto Networks had a negative return on equity of 23.77% and a negative net margin of 14.38%. The business had revenue of $431.80 million during the quarter, compared to the consensus estimate of $412.11 million. During the same period last year, the company earned $0.42 EPS. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, analysts anticipate that Palo Alto Networks will post $2.59 earnings per share for the current year.
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In related news, Director James J. Goetz sold 30,000 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the transaction, the director now owns 271,645 shares of the company’s stock, valued at $37,478,860.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Palo Capital Inc. raised its position in shares of Palo Alto Networks by 14.0% in the first quarter. Palo Capital Inc. now owns 2,436 shares of the network technology company’s stock worth $274,000 after buying an additional 300 shares in the last quarter. Flinton Capital Management LLC raised its position in shares of Palo Alto Networks by 94.8% in the first 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Palo Alto Networks by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 83,110 shares of the network technology company’s stock worth $10,393,000 after buying an additional 4,974 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in Palo Alto Networks by 6.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,445 shares of the network technology company’s stock valued at $258,000 after buying an additional 148 shares during the period. Finally, Atalanta Sosnoff Capital LLC purchased a new stake in Palo Alto Networks during the first quarter valued at $305,000. 80.25% of the stock is currently owned by hedge funds and other 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.
To view Vetr’s full report, visit Vetr’s official website.
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