Palo Alto Networks Inc (PANW) Receives Outperform Rating from Cowen and Company
Palo Alto Networks Inc (NYSE:PANW)‘s stock had its “outperform” rating restated by analysts at Cowen and Company in a report issued on Thursday. They presently have a $150.00 price target on the network technology company’s stock. Cowen and Company’s price objective would suggest a potential upside of 27.51% from the stock’s previous close.
A number of other brokerages also recently commented on PANW. Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $174.00 price objective for the company in a research report on Friday, February 10th. BMO Capital Markets upped their price objective on shares of Palo Alto Networks from $150.00 to $160.00 and gave the stock a “market perform” rating in a research report on Monday, February 27th. Imperial Capital restated an “outperform” rating and set a $180.00 price objective on shares of Palo Alto Networks in a research report on Friday, February 24th. Royal Bank of Canada cut their price objective on shares of Palo Alto Networks from $170.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, March 1st. Finally, Morgan Stanley downgraded shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 1st. Fifteen investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $150.09.
Palo Alto Networks (NYSE:PANW) traded down 0.28% on Thursday, reaching $117.64. 1,237,655 shares of the company’s stock were exchanged. Palo Alto Networks has a 1-year low of $107.31 and a 1-year high of $165.69. The company’s market capitalization is $10.83 billion. The firm has a 50-day moving average price of $113.36 and a 200-day moving average price of $129.40.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Tuesday, February 28th. The network technology company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The company had revenue of $422.60 million during the quarter, compared to the consensus estimate of $429.91 million. Palo Alto Networks had a negative net margin of 16.83% and a negative return on equity of 35.75%. Palo Alto Networks’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. Equities research analysts expect that Palo Alto Networks will post $2.48 earnings per share for the current year.
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Several institutional investors have recently made changes to their positions in PANW. Independent Advisor Alliance purchased a new position in shares of Palo Alto Networks during the fourth quarter valued at about $115,000. WFG Advisors LP increased its position in shares of Palo Alto Networks by 5.9% in the first quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock valued at $101,000 after buying an additional 50 shares during the period. Global X Management Co. LLC increased its position in shares of Palo Alto Networks by 31.9% in the first quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock valued at $106,000 after buying an additional 227 shares during the period. Edmond DE Rothschild Monaco purchased a new position in shares of Palo Alto Networks during the third quarter valued at about $162,000. Finally, Ayalon Holdings Ltd. increased its position in shares of Palo Alto Networks by 23.8% in the third quarter. Ayalon Holdings Ltd. now owns 1,040 shares of the network technology company’s stock valued at $166,000 after buying an additional 200 shares during the period. 86.51% of the stock is owned by institutional investors.
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.
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