Palo Alto Networks Inc (PANW) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Palo Alto Networks Inc (NYSE:PANW) have been given an average rating of “Buy” by the forty-six research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and thirty-three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $167.25.

Several equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a report on Tuesday, November 28th. Jefferies Group reaffirmed a “buy” rating and set a $183.00 price target (up previously from $168.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $173.00 price target (up previously from $155.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. Royal Bank of Canada lifted their price target on shares of Palo Alto Networks from $159.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, November 21st. Finally, Evercore ISI raised shares of Palo Alto Networks from an “in-line” rating to an “outperform” rating and set a $180.00 target price on the stock in a report on Thursday, January 18th.

Shares of Palo Alto Networks (NYSE:PANW) traded up $2.43 during trading hours on Friday, reaching $159.71. 797,351 shares of the company’s stock traded hands, compared to its average volume of 1,020,000. Palo Alto Networks has a twelve month low of $107.31 and a twelve month high of $160.50. The stock has a market capitalization of $14,680.00, a P/E ratio of -64.92 and a beta of 0.99.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, beating the 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 business had revenue of $505.50 million for the quarter, compared to the consensus estimate of $489.36 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. analysts anticipate that Palo Alto Networks will post -0.37 earnings per share for the current fiscal year.

In other Palo Alto Networks news, CEO Mark D. Mclaughlin sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $149.85, for a total transaction of $3,746,250.00. Following the transaction, the chief executive officer now owns 374,919 shares in the company, valued at $56,181,612.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James J. Goetz sold 78,000 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $146.78, for a total transaction of $11,448,840.00. The disclosure for this sale can be found here. Insiders sold 361,644 shares of company stock worth $53,533,318 in the last 90 days. 4.80% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Highland Capital Management LLC purchased a new stake in shares of Palo Alto Networks during the fourth quarter valued at $898,000. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Palo Alto Networks by 53.0% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 27,412 shares of the network technology company’s stock valued at $3,973,000 after purchasing an additional 9,491 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Palo Alto Networks by 63.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 96,947 shares of the network technology company’s stock valued at $14,052,000 after purchasing an additional 37,495 shares during the period. APG Asset Management N.V. boosted its stake in shares of Palo Alto Networks by 16.7% during the fourth quarter. APG Asset Management N.V. now owns 37,595 shares of the network technology company’s stock valued at $4,538,000 after purchasing an additional 5,367 shares during the period. Finally, Field & Main Bank purchased a new stake in shares of Palo Alto Networks during the fourth quarter valued at $823,000. Institutional investors and hedge funds own 79.90% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was illegally copied and republished in violation of international copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/27/palo-alto-networks-inc-panw-receives-consensus-recommendation-of-buy-from-brokerages.html.

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.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply