Palo Alto Networks Now Covered by Northland Securities (PANW)
Analysts at Northland Securities started coverage on shares of Palo Alto Networks (NASDAQ:PANW) in a research report issued to clients and investors on Wednesday. The firm set an “outperform” rating and a $95.00 price target on the stock. Northland Securities’ price objective points to a potential upside of 15.49% from the company’s current price.
Palo Alto Networks (NASDAQ:PANW) opened at 82.26 on Wednesday. Palo Alto Networks has a 1-year low of $40.36 and a 1-year high of $85.78. The stock has a 50-day moving average of $74.04 and a 200-day moving average of $68.16. The company’s market cap is $6.340 billion.
Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Wednesday, May 28th. The company reported $0.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.10 by $0.01. The company had revenue of $150.70 million for the quarter, compared to the consensus estimate of $146.13 million. During the same quarter last year, the company posted $0.06 earnings per share. Palo Alto Networks’s revenue was up 48.8% compared to the same quarter last year. Analysts expect that Palo Alto Networks will post $0.40 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on PANW. Analysts at Morgan Stanley raised their price target on shares of Palo Alto Networks from $90.00 to $105.00 in a research note on Monday. They now have a “top pick” rating on the stock. Separately, analysts at Dougherty & Co initiated coverage on shares of Palo Alto Networks in a research note on Thursday, June 26th. They set a “buy” rating and a $95.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Palo Alto Networks from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 25th. They now have a $76.80 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $83.97.
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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