Palo Alto Networks, Inc. (PANW) Given Average Rating of “Buy” by Analysts
Shares of Palo Alto Networks, Inc. (NYSE:PANW) have been assigned a consensus rating of “Buy” from the forty-eight research firms that are presently covering the company, Marketbeat reports. Twenty-one analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $149.79.
A number of research firms have recently commented on PANW. TheStreet lowered shares of Palo Alto Networks from a “c-” rating to a “d+” rating in a research report on Thursday, March 23rd. Monness Crespi & Hardt began coverage on shares of Palo Alto Networks in a research report on Thursday, April 6th. They issued a “buy” rating and a $150.00 price target on the stock. FBN Securities lowered shares of Palo Alto Networks from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $135.00 to $115.00 in a research report on Monday, April 17th. BMO Capital Markets dropped their price target on shares of Palo Alto Networks from $132.00 to $126.00 and set an “outperform” rating on the stock in a research report on Friday, April 21st. Finally, OTR Global reissued a “positive” rating on shares of Palo Alto Networks in a research report on Wednesday, May 10th.
Palo Alto Networks (NYSE:PANW) traded up 0.94% during midday trading on Tuesday, hitting $138.86. 921,305 shares of the stock traded hands. The company has a 50-day moving average price of $128.32 and a 200-day moving average price of $127.52. Palo Alto Networks has a 1-year low of $107.31 and a 1-year high of $165.69. The firm’s market cap is $12.75 billion.
Palo Alto Networks (NYSE:PANW) last posted its earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.06. The firm had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $412.11 million. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The company’s revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Analysts predict that Palo Alto Networks will post $2.59 EPS for the current year.
A number of large investors have recently bought and sold shares of PANW. WFG Advisors LP boosted its stake in Palo Alto Networks by 5.9% in the first quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock worth $101,000 after buying an additional 50 shares during the period. Global X Management Co. LLC boosted its stake in 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 worth $106,000 after buying an additional 227 shares during the period. Integrated Investment Consultants LLC acquired a new stake in Palo Alto Networks during the first quarter worth $120,000. First Interstate Bank boosted its stake in Palo Alto Networks by 130.7% in the first quarter. First Interstate Bank now owns 1,375 shares of the network technology company’s stock worth $155,000 after buying an additional 779 shares during the period. Finally, Salem Investment Counselors Inc. acquired a new stake in Palo Alto Networks during the first quarter worth $191,000. Institutional investors and hedge funds own 80.58% of the company’s stock.
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About Palo Alto Networks
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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