Palo Alto Networks (NYSE:PANW) was upgraded by equities researchers at William Blair from a “market perform” rating to an “outperform” rating in a research report issued on Monday, The Fly reports.

A number of other equities research analysts also recently weighed in on the stock. Piper Jaffray Companies set a $146.00 price target on shares of Palo Alto Networks and gave the stock a “buy” rating in a research note on Friday, August 25th. Jefferies Group boosted their price target on shares of Palo Alto Networks from $155.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, September 1st. BTIG Research reissued a “buy” rating and set a $175.00 price target on shares of Palo Alto Networks in a research note on Thursday, August 31st. Citigroup reissued a “buy” rating and set a $168.00 price target (up from $160.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. Finally, Goldman Sachs Group reissued a “buy” rating and set a $165.00 price target (up from $158.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-three have given a buy rating to the company’s stock. Palo Alto Networks currently has an average rating of “Buy” and a consensus target price of $162.84.

Palo Alto Networks (NYSE:PANW) opened at $143.77 on Monday. Palo Alto Networks has a 12-month low of $107.31 and a 12-month high of $157.65.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The company had revenue of $505.50 million for the quarter, compared to analyst estimates of $489.36 million. During the same period in the prior year, the business earned $0.55 earnings per share. Palo Alto Networks’s quarterly revenue was up 27.0% on a year-over-year basis. research analysts anticipate that Palo Alto Networks will post -0.37 earnings per share for the current year.

In other news, Director Carl M. Eschenbach sold 1,572 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $144.99, for a total value of $227,924.28. Following the completion of the transaction, the director now owns 3,619 shares in the company, valued at $524,718.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Mark Anderson sold 44,429 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $143.10, for a total transaction of $6,357,789.90. Following the completion of the transaction, the president now owns 176,290 shares of the company’s stock, valued at approximately $25,227,099. The disclosure for this sale can be found here. Insiders sold 329,171 shares of company stock valued at $48,931,891 in the last ninety days. Insiders own 4.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its holdings in Palo Alto Networks by 3.9% during the third quarter. Morgan Stanley now owns 1,825,452 shares of the network technology company’s stock worth $290,849,000 after purchasing an additional 67,884 shares during the last quarter. Arcadia Investment Management Corp MI boosted its holdings in Palo Alto Networks by 9.3% during the fourth quarter. Arcadia Investment Management Corp MI now owns 43,470 shares of the network technology company’s stock worth $7,657,000 after purchasing an additional 3,705 shares during the last quarter. Palo Capital Inc. boosted its holdings in Palo Alto Networks by 14.0% during the first quarter. Palo Capital Inc. now owns 2,436 shares of the network technology company’s stock worth $274,000 after purchasing an additional 300 shares during the last quarter. Braun Stacey Associates acquired a new position in Palo Alto Networks during the third quarter worth $9,610,000. Finally, Fortaleza Asset Management Inc. boosted its holdings in Palo Alto Networks by 8.0% during the fourth quarter. Fortaleza Asset Management Inc. now owns 23,805 shares of the network technology company’s stock worth $4,193,000 after purchasing an additional 1,765 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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