Palo Alto Networks Upgraded to “Overweight” at Barclays (PANW)
Palo Alto Networks (NASDAQ:PANW) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Stock Ratings Network reports. The firm currently has a $78.00 price target on the stock. Barclays’ price objective points to a potential upside of 18.29% from the company’s current price.
PANW has been the subject of a number of other recent research reports. Analysts at JMP Securities upgraded shares of Palo Alto Networks from a “market perform” rating to an “outperform” rating in a research note on Thursday. They now have a $80.00 price target on the stock. Separately, analysts at Citigroup Inc. raised their price target on shares of Palo Alto Networks from $49.00 to $66.00 in a research note on Friday, April 4th. Finally, analysts at Goldman Sachs reiterated a “positive” rating on shares of Palo Alto Networks in a research note on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $70.20.
Palo Alto Networks (NASDAQ:PANW) traded up 2.55% on Monday, hitting $65.94. 2,660,124 shares of the company’s stock traded hands. Palo Alto Networks has a 1-year low of $39.08 and a 1-year high of $80.84. The stock has a 50-day moving average of $71.98 and a 200-day moving average of $57.84. The company’s market cap is $4.884 billion.
Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.09 by $0.01. The company had revenue of $141.10 million for the quarter, compared to the consensus estimate of $139.62 million. Analysts expect that Palo Alto Networks will post $0.42 EPS for the current fiscal year.
In other Palo Alto Networks news, Director Asheem Chandna sold 26,250 shares of the stock on the open market in a transaction dated Thursday, April 10th. The stock was sold at an average price of $67.24, for a total transaction of $1,765,050.00. The sale was disclosed in a filing with the SEC, 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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