Palo Alto Networks Inc (NYSE:PANW) was upgraded by stock analysts at Jefferies Group LLC from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $150.00 price target on the network technology company’s stock, up from their prior price target of $130.00. Jefferies Group LLC’s price target would indicate a potential upside of 28.76% from the stock’s current price.

PANW has been the subject of a number of other reports. Vetr cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $151.73 price objective for the company. in a research report on Tuesday, January 31st. Wells Fargo & Co reissued an “outperform” rating and set a $185.00 target price (down from $195.00) on shares of Palo Alto Networks in a report on Friday, March 3rd. Zacks Investment Research raised shares of Palo Alto Networks from a “hold” rating to a “strong-buy” rating and set a $178.00 target price on the stock in a report on Tuesday, February 21st. TheStreet lowered shares of Palo Alto Networks from a “c-” rating to a “d+” rating in a report on Thursday, March 23rd. Finally, BMO Capital Markets boosted their target price on shares of Palo Alto Networks from $150.00 to $160.00 and gave the stock a “market perform” rating in a report on Monday, February 27th. Sixteen analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Palo Alto Networks has a consensus rating of “Buy” and a consensus price target of $150.78.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

Palo Alto Networks (NYSE:PANW) traded up 2.45% on Friday, hitting $116.50. The company’s stock had a trading volume of 2,146,366 shares. The company has a 50 day moving average price of $112.53 and a 200-day moving average price of $130.28. The company’s market capitalization is $10.72 billion. Palo Alto Networks has a 1-year low of $107.31 and a 1-year high of $165.69.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Tuesday, February 28th. The network technology company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. The company had revenue of $422.60 million during the quarter, compared to analysts’ expectations of $429.91 million. Palo Alto Networks had a negative net margin of 16.83% and a negative return on equity of 35.75%. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 EPS. On average, equities analysts forecast that Palo Alto Networks will post $2.48 earnings per share for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Palo Alto Networks by 3.9% in the first quarter. Vanguard Group Inc. now owns 7,007,233 shares of the network technology company’s stock valued at $789,575,000 after buying an additional 263,433 shares during the period. Jennison Associates LLC boosted its stake in shares of Palo Alto Networks by 11.4% in the third quarter. Jennison Associates LLC now owns 5,312,533 shares of the network technology company’s stock worth $846,446,000 after buying an additional 543,980 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Palo Alto Networks by 30.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,871,628 shares of the network technology company’s stock worth $776,196,000 after buying an additional 1,137,120 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Palo Alto Networks by 16.7% in the first quarter. Renaissance Technologies LLC now owns 2,152,800 shares of the network technology company’s stock worth $242,578,000 after buying an additional 307,800 shares during the period. Finally, CI Global Investments Inc. boosted its stake in shares of Palo Alto Networks by 17.4% in the first quarter. CI Global Investments Inc. now owns 1,580,240 shares of the network technology company’s stock worth $178,061,000 after buying an additional 234,623 shares during the period. Institutional investors and hedge funds own 86.51% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its 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.

12 Month Chart for NYSE:PANW

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