BidaskClub Upgrades Palo Alto Networks, Inc. (PANW) to Buy
Palo Alto Networks, Inc. (NYSE:PANW) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
Other equities analysts also recently issued research reports about the stock. Vetr downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $140.90 target price on the stock. in a research note on Monday. Evercore ISI set a $140.00 target price on shares of Palo Alto Networks and gave the company a “hold” rating in a research note on Saturday, June 17th. Citigroup Inc. raised shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and boosted their target price for the company from $147.00 to $160.00 in a research note on Friday, July 7th. ValuEngine raised shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $145.00 target price (up from $130.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. Twenty analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $151.27.
Palo Alto Networks (NYSE PANW) traded up 1.16% during trading on Thursday, hitting $141.00. The company’s stock had a trading volume of 2,096,146 shares. The firm’s market cap is $12.95 billion. The company has a 50-day moving average of $128.32 and a 200 day moving average of $127.52. Palo Alto Networks has a one year low of $107.31 and a one year high of $165.69.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.06. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The firm had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $412.11 million. During the same period in the prior year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, equities analysts forecast that Palo Alto Networks will post $2.59 earnings per share for the current year.
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In other news, Director James J. Goetz sold 30,000 shares of the business’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $137.97, for a total value of $4,139,100.00. Following the completion of the transaction, the director now owns 271,645 shares in the company, valued at $37,478,860.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Gulf International Bank UK Ltd raised its position in shares of Palo Alto Networks by 3.5% in the first quarter. Gulf International Bank UK Ltd now owns 27,570 shares of the network technology company’s stock worth $3,106,000 after buying an additional 935 shares during the last quarter. Chesley Taft & Associates LLC increased its position in Palo Alto Networks by 0.3% in the first quarter. Chesley Taft & Associates LLC now owns 22,897 shares of the network technology company’s stock valued at $2,580,000 after buying an additional 77 shares during the last quarter. New England Research & Management Inc. increased its position in Palo Alto Networks by 35.0% in the first quarter. New England Research & Management Inc. now owns 6,079 shares of the network technology company’s stock valued at $685,000 after buying an additional 1,575 shares during the last quarter. Atalanta Sosnoff Capital LLC purchased a new position in Palo Alto Networks during the first quarter valued at approximately $305,000. Finally, Integrated Investment Consultants LLC purchased a new position in Palo Alto Networks during the first quarter valued at approximately $120,000. 80.58% 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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