Palo Alto Networks Receives Consensus Recommendation of “Buy” from Brokerages (NASDAQ:PANW)
Palo Alto Networks (NASDAQ:PANW) has earned a consensus recommendation of “Buy” from the twenty-nine analysts that are presently covering the stock, Analyst Ratings Network reports. Six research 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 twelve-month target price among analysts that have updated their coverage on the stock in the last year is $86.21.
Several analysts have recently commented on the stock. 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 85.01 on Thursday. Palo Alto Networks has a 52 week low of $40.36 and a 52 week high of $87.79. The stock’s 50-day moving average is $80.9 and its 200-day moving average is $73.68. The company’s market cap is $6.552 billion.
Palo Alto Networks (NASDAQ:PANW) last announced its earnings results 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.
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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