Palo Alto Networks Upgraded to “Market Perform” at Oppenheimer (PANW)
Palo Alto Networks (NASDAQ:PANW) was upgraded by equities researchers at Oppenheimer to a “market perform” rating in a research report issued on Tuesday, StockRatingsNetwork.com reports. The firm currently has a $50.00 target price on the stock, up from their previous target price of $47.00. Oppenheimer’s target price indicates a potential upside of 6.75% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets raised their price target on shares of Palo Alto Networks (NASDAQ:PANW) from $48.00 to $50.00 in a research note to investors on Tuesday. They now have a “market perform” rating on the stock. Separately, analysts at Lazard Capital Markets cut their price target on shares of Palo Alto Networks (NASDAQ:PANW) from $65.00 to $58.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Palo Alto Networks (NASDAQ:PANW) from $54.00 to $51.00 in a research note to investors on Friday. They now have a “hold” rating on the stock.
Fifteen investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $57.90.
Shares of Palo Alto Networks (NASDAQ:PANW) traded up 3.80% on Tuesday, hitting $48.62. 1,150,969 shares of the company’s stock traded hands. Palo Alto Networks has a 52 week low of $39.08 and a 52 week high of $70.33. The stock has a 50-day moving average of $48.23 and a 200-day moving average of $50.20. The company’s market cap is $3.459 billion. Palo Alto Networks also was the target of unusually large options trading on Monday. Stock investors acquired 6,242 put options on the company. This represents an increase of approximately 572% compared to the typical daily volume of 929 put options.
Palo Alto Networks (NASDAQ:PANW) last released its earnings data on Monday, September 9th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $112.40 million for the quarter, compared to the consensus estimate of $108.98 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 48.7% on a year-over-year basis. Analysts expect that Palo Alto Networks will post $0.21 EPS for the current fiscal year.
In other Palo Alto Networks news, CMO Rene Bonvanie sold 75,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $46.46, for a total value of $3,484,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Palo Alto Networks, Inc offers a network security platform that allows enterprises, service providers, and government entities to secure their networks.
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