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Palo Alto Networks (NASDAQ:PANW)’s share price reached a new 52-week high during trading on Wednesday, Analyst Ratings News reports. The stock traded as high as $63.83 and last traded at $63.61, with a volume of 1,933,124 shares traded. The stock had previously closed at $60.62.

A number of analysts have recently weighed in on PANW shares. Analysts at TheStreet upgraded shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a research note to investors on Tuesday, December 17th. Separately, analysts at Zacks upgraded shares of Palo Alto Networks from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, December 13th. They now have a $53.10 price target on the stock. Finally, analysts at Raymond James downgraded shares of Palo Alto Networks from a “strong-buy” rating to an “outperform” rating in a research note to investors on Monday, December 2nd. They now have a $56.00 price target on the stock, down previously from $63.00. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $58.18.

In other Palo Alto Networks news, Director Asheem Chandna sold 26,250 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $60.04, for a total value of $1,576,050.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Palo Alto Networks has a 1-year low of $39.08 and a 1-year high of $62.19. The stock has a 50-day moving average of $55.04 and a 200-day moving average of $48.19. The company’s market cap is $4.574 billion.

Palo Alto Networks (NASDAQ:PANW) last released its earnings data on Monday, November 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $128.20 million for the quarter, compared to the consensus estimate of $120.81 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 49.2% on a year-over-year basis. On average, analysts predict that Palo Alto Networks will post $0.42 earnings per share for the current fiscal year.

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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