Palo Alto Networks, Inc. (NYSE:PANW) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday.

PANW has been the subject of several other reports. Piper Jaffray Companies set a $156.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a report on Thursday, June 1st. Cowen and Company reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Palo Alto Networks in a report on Thursday, May 25th. Evercore ISI reissued an “in-line” rating and set a $145.00 price objective (up from $140.00) on shares of Palo Alto Networks in a report on Friday, September 1st. UBS AG reissued a “neutral” rating and set a $146.00 price objective (up from $140.00) on shares of Palo Alto Networks in a report on Friday, September 1st. Finally, Vetr raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $140.90 price objective for the company in a report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $157.91.

Shares of Palo Alto Networks (PANW) opened at 144.03 on Thursday. Palo Alto Networks has a 1-year low of $107.31 and a 1-year high of $165.69. The stock’s market cap is $13.23 billion. The firm has a 50-day moving average of $133.97 and a 200 day moving average of $126.23.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by $0.92. The firm had revenue of $509 million during the quarter, compared to analysts’ expectations of $487.53 million. Palo Alto Networks had a negative return on equity of 19.08% and a negative net margin of 12.57%. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. Equities research analysts forecast that Palo Alto Networks will post $3.34 earnings per share for the current year.

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In other news, Director James J. Goetz sold 30,000 shares of the 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 sale, the director now owns 271,645 shares of the company’s stock, valued at $37,478,860.65. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Endurance Wealth Management Inc. increased its stake in Palo Alto Networks by 0.3% in the 2nd quarter. Endurance Wealth Management Inc. now owns 3,610 shares of the network technology company’s stock worth $483,000 after buying an additional 11 shares during the period. HM Payson & Co. increased its stake in Palo Alto Networks by 0.3% in the 1st quarter. HM Payson & Co. now owns 6,755 shares of the network technology company’s stock worth $761,000 after buying an additional 19 shares during the period. NEXT Financial Group Inc increased its stake in Palo Alto Networks by 0.4% in the 2nd quarter. NEXT Financial Group Inc now owns 4,969 shares of the network technology company’s stock worth $665,000 after buying an additional 19 shares during the period. Wedbush Securities Inc. increased its stake in Palo Alto Networks by 0.4% in the 1st quarter. Wedbush Securities Inc. now owns 5,437 shares of the network technology company’s stock worth $613,000 after buying an additional 23 shares during the period. Finally, Capstone Asset Management Co. increased its stake in Palo Alto Networks by 1.3% in the 2nd quarter. Capstone Asset Management Co. now owns 2,284 shares of the network technology company’s stock worth $306,000 after buying an additional 30 shares during the period. 77.05% of the stock is currently owned by 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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