Palo Alto Networks Coverage Initiated at Imperial Capital (PANW)
Stock analysts at Imperial Capital started coverage on shares of Palo Alto Networks (NASDAQ:PANW) in a report issued on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating on the stock.
In other Palo Alto Networks news, Insider Nir Zuk sold 30,000 shares of Palo Alto Networks stock on the open market 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 document filed with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on PANW. Analysts at Piper Jaffray initiated coverage on shares of Palo Alto Networks in a research note on Tuesday. They set an “overweight” rating and a $100.00 price target on the stock. Separately, 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. Finally, 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. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Palo Alto Networks presently has an average rating of “Buy” and an average price target of $85.87.
Shares of Palo Alto Networks (NASDAQ:PANW) traded up 0.83% on Thursday, hitting $85.49. 1,941,739 shares of the company’s stock traded hands. Palo Alto Networks has a 1-year low of $40.36 and a 1-year high of $86.51. The stock has a 50-day moving average of $80.25 and a 200-day moving average of $72.5. The company’s market cap is $6.589 billion.
Palo Alto Networks (NASDAQ:PANW) last posted its quarterly 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.
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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