Palo Alto Networks, Inc. (PANW) Rating Increased to Sell at BidaskClub
Palo Alto Networks, Inc. (NYSE:PANW) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Thursday.
Several other equities analysts have also weighed in on PANW. UBS AG restated a “neutral” rating and set a $140.00 target price (up from $130.00) on shares of Palo Alto Networks in a report on Monday, June 5th. Evercore ISI set a $140.00 target price on Palo Alto Networks and gave the company a “hold” rating in a report on Saturday, June 17th. ValuEngine upgraded Palo Alto Networks from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Robert W. Baird restated a “hold” rating and set a $145.00 target price (up from $130.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. Finally, JMP Securities restated an “outperform” rating and set a $165.00 target price (up from $155.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company. Palo Alto Networks presently has an average rating of “Buy” and a consensus target price of $150.94.
Palo Alto Networks (NYSE PANW) traded down 0.22% during trading on Thursday, reaching $130.27. The company had a trading volume of 743,963 shares. Palo Alto Networks has a 52-week low of $107.31 and a 52-week high of $165.69. The company has a 50-day moving average price of $134.58 and a 200 day moving average price of $127.85. The stock’s market cap is $11.96 billion.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Wednesday, May 31st. The network technology company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.06. Palo Alto Networks had a negative return on equity of 23.77% and a negative net margin of 14.38%. The business had revenue of $431.80 million during the quarter, compared to analyst estimates of $412.11 million. During the same period last year, the company earned $0.42 earnings per share. Palo Alto Networks’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, analysts anticipate that Palo Alto Networks will post $2.59 earnings per share for the current year.
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In related news, Director James J. Goetz sold 30,000 shares of the business’s stock in a transaction that occurred 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 owns 271,645 shares in the company, valued at approximately $37,478,860.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Palo Alto Networks by 3.6% in the second quarter. Vanguard Group Inc. now owns 7,262,069 shares of the network technology company’s stock worth $971,738,000 after buying an additional 254,836 shares in the last quarter. Renaissance Technologies LLC raised its stake in 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 in the last quarter. Clearbridge Investments LLC raised its stake in Palo Alto Networks by 11.3% in the first quarter. Clearbridge Investments LLC now owns 1,888,116 shares of the network technology company’s stock worth $212,753,000 after buying an additional 191,475 shares in the last quarter. American Century Companies Inc. raised its stake 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. Finally, CI Global Investments Inc. raised its stake in Palo Alto Networks by 2.4% in the second quarter. CI Global Investments Inc. now owns 1,617,837 shares of the network technology company’s stock worth $216,483,000 after buying an additional 37,597 shares in the last quarter. Hedge funds and other institutional investors own 80.25% of the company’s stock.
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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