Palo Alto Networks Receives New Coverage from Analysts at Piper Jaffray (PANW)
Equities research analysts at Piper Jaffray started coverage on shares of Palo Alto Networks (NASDAQ:PANW) in a research note issued to investors on Tuesday. The firm set an “overweight” rating and a $100.00 price target on the stock. Piper Jaffray’s target price would suggest a potential upside of 22.07% from the company’s current price.
A number of other firms have also recently commented on PANW. Analysts at Zacks upgraded shares of Palo Alto Networks from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 29th. They now have a $83.10 price target on the stock. Separately, analysts at Pacific Crest reiterated an “outperform” rating on shares of Palo Alto Networks in a research note on Thursday, July 17th. They now have a $105.00 price target on the stock, up previously from $90.00. Finally, analysts at Goldman Sachs initiated coverage on shares of Palo Alto Networks in a research note on Wednesday, July 16th. They set a “conviction-buy” rating and a $97.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Palo Alto Networks has a consensus rating of “Buy” and an average target price of $85.87.
Palo Alto Networks (NASDAQ:PANW) traded down 0.81% on Tuesday, hitting $81.26. The stock had a trading volume of 621,285 shares. Palo Alto Networks has a one year low of $40.36 and a one year high of $85.78. The stock’s 50-day moving average is $80. and its 200-day moving average is $72.28. The company’s market cap is $6.263 billion.
Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 48.8% on a year-over-year basis. Analysts expect that Palo Alto Networks will post $0.40 EPS for the current fiscal year.
In other Palo Alto Networks news, Insider Nir Zuk sold 30,000 shares of Palo Alto Networks stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $80.35, for a total transaction of $2,410,500.00. 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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