Palo Alto Networks Inc. (PANW) Upgraded at Vetr Inc.
Palo Alto Networks Inc. (NYSE:PANW) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm currently has a $178.24 price objective on the network technology company’s stock. Vetr‘s target price would suggest a potential upside of 14.64% from the company’s current price.
Other analysts also recently issued research reports about the company. Zacks Investment Research raised Palo Alto Networks from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $185.00 target price on shares of Palo Alto Networks in a research note on Wednesday, August 17th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $177.00 target price on shares of Palo Alto Networks in a research note on Thursday, September 1st. Argus reaffirmed a “buy” rating and set a $205.00 target price on shares of Palo Alto Networks in a research note on Saturday, September 3rd. Finally, Citigroup Inc. cut their target price on Palo Alto Networks from $145.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 31st. Eight investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $181.48.
Palo Alto Networks (NYSE:PANW) traded down 2.67% during mid-day trading on Tuesday, hitting $155.48. The company had a trading volume of 1,635,966 shares. The company’s market cap is $14.13 billion. Palo Alto Networks has a one year low of $111.09 and a one year high of $194.73. The company’s 50 day moving average price is $149.50 and its 200-day moving average price is $139.56.
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Palo Alto Networks (NYSE:PANW) last announced its earnings results on Tuesday, August 30th. The network technology company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $400.80 million for the quarter, compared to the consensus estimate of $389.90 million. Palo Alto Networks had a negative return on equity of 34.28% and a negative net margin of 16.39%. The firm’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Equities research analysts anticipate that Palo Alto Networks will post $2.78 EPS for the current fiscal year.
In other news, CEO Mark D. Mclaughlin sold 70,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $140.00, for a total value of $9,800,000.00. Following the sale, the chief executive officer now directly owns 667,303 shares in the company, valued at approximately $93,422,420. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carl M. Eschenbach sold 894 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $159.08, for a total value of $142,217.52. Following the completion of the sale, the director now owns 2,940 shares in the company, valued at $467,695.20. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in PANW. Credit Agricole S A raised its stake in Palo Alto Networks by 106.1% in the first quarter. Credit Agricole S A now owns 24,259 shares of the network technology company’s stock valued at $3,958,000 after buying an additional 12,489 shares in the last quarter. Ithaka Group LLC raised its stake in Palo Alto Networks by 1.7% in the first quarter. Ithaka Group LLC now owns 106,765 shares of the network technology company’s stock valued at $17,418,000 after buying an additional 1,820 shares in the last quarter. Maryland Capital Management raised its stake in Palo Alto Networks by 14.0% in the first quarter. Maryland Capital Management now owns 92,518 shares of the network technology company’s stock valued at $15,093,000 after buying an additional 11,378 shares in the last quarter. Aviva PLC raised its stake in Palo Alto Networks by 3.2% in the first quarter. Aviva PLC now owns 41,680 shares of the network technology company’s stock valued at $6,800,000 after buying an additional 1,287 shares in the last quarter. Finally, Wunderlich Capital Managemnt bought a new stake in Palo Alto Networks during the first quarter valued at $103,000. Institutional investors own 80.06% of the company’s stock.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s Next-Generation Firewall delivers application, user, and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
To view Vetr’s full report, visit Vetr’s official website.
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