Palo Alto Networks Given Average Recommendation of “Buy” by Brokerages (NASDAQ:PANW)
Palo Alto Networks (NASDAQ:PANW) has earned an average recommendation of “Buy” from the twenty-nine ratings firms that are presently covering the stock, American Banking News reports. Six investment analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $86.21.
A number of analysts have recently weighed in on PANW shares. Analysts at Imperial Capital initiated coverage on shares of Palo Alto Networks in a research note on Thursday, August 14th. They set an “outperform” rating and a $95.00 price target on the stock. Separately, analysts at Piper Jaffray initiated coverage on shares of Palo Alto Networks in a research note on Tuesday, August 12th. They set an “overweight” rating and a $100.00 price target on the stock. Finally, 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.
Palo Alto Networks (NASDAQ:PANW) opened at 85.31 on Thursday. Palo Alto Networks has a 52-week low of $40.36 and a 52-week high of $87.79. The stock has a 50-day moving average of $80.77 and a 200-day moving average of $73.41. The company’s market cap is $6.575 billion.
Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Wednesday, May 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 48.8% on a year-over-year basis. On average, analysts predict that Palo Alto Networks will post $0.40 earnings per share for the current fiscal year.
In other Palo Alto Networks news, Insider Nir Zuk sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $80.35, for a total value 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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