Palo Alto Networks, Inc. (NYSE:PANW) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.

A number of other brokerages also recently weighed in on PANW. UBS AG reaffirmed a “neutral” rating and set a $140.00 target price (up previously from $130.00) on shares of Palo Alto Networks in a research note on Monday, June 5th. Susquehanna Bancshares Inc began coverage on shares of Palo Alto Networks in a report on Wednesday, June 7th. They set a “neutral” rating and a $145.00 price target on the stock. Barclays PLC reiterated an “overweight” rating and set a $158.00 price target (up previously from $145.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. Citigroup Inc. reiterated a “neutral” rating and set a $147.00 price target (up previously from $130.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $135.00 price target (up previously from $125.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Palo Alto Networks presently has an average rating of “Buy” and an average target price of $150.94.

Shares of Palo Alto Networks (PANW) traded up 0.88% during mid-day trading on Friday, hitting $128.84. The stock had a trading volume of 688,143 shares. The firm’s market capitalization is $11.83 billion. The stock’s 50-day moving average is $135.30 and its 200 day moving average is $128.34. 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 announced its earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $431.80 million during the quarter, compared to the consensus estimate of $412.11 million. During the same quarter last year, the firm earned $0.42 earnings per share. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts predict that Palo Alto Networks will post $2.59 EPS for the current fiscal year.

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In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of Palo Alto Networks stock in a transaction on Monday, July 10th. The shares were 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 directly owns 271,645 shares of the company’s stock, valued at approximately $37,478,860.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Palo Alto Networks by 512.7% in the second quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock worth $233,811,000 after buying an additional 1,462,162 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in Palo Alto Networks by 13,115.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock worth $8,760,000 after buying an additional 1,163,306 shares in the last quarter. Northern Trust Corp boosted its position in Palo Alto Networks by 109.9% in the second quarter. Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock worth $152,883,000 after buying an additional 598,115 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Palo Alto Networks by 5,177.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 496,610 shares of the network technology company’s stock worth $55,958,000 after buying an additional 487,200 shares in the last quarter. Finally, Hunt Lane Capital LP purchased a new position in Palo Alto Networks during the first quarter worth approximately $42,818,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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