Palo Alto Networks’ (NYSE:PANW) “Buy” Rating Reiterated at Jefferies Group

Jefferies Group reiterated their buy rating on shares of Palo Alto Networks (NYSE:PANW) in a research note released on Tuesday, November 21st, Marketbeat reports. Jefferies Group currently has a $183.00 target price on the network technology company’s stock, up from their prior target price of $168.00.

Several other equities research analysts have also recently weighed in on PANW. BidaskClub cut shares of Palo Alto Networks from a buy rating to a hold rating in a research report on Tuesday, July 25th. Vetr upgraded shares of Palo Alto Networks from a hold rating to a buy rating and set a $138.40 price target for the company in a research report on Monday, July 31st. ValuEngine upgraded shares of Palo Alto Networks from a sell rating to a hold rating in a research report on Saturday, August 12th. Imperial Capital reiterated an outperform rating and set a $137.00 price target on shares of Palo Alto Networks in a research report on Friday, August 18th. Finally, 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 report on Friday, August 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-three have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $162.84.

Shares of Palo Alto Networks (NYSE:PANW) traded up $1.46 during mid-day trading on Tuesday, reaching $142.83. 1,508,816 shares of the company traded hands, compared to its average volume of 1,770,410. 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 posted its quarterly earnings data 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. The firm had revenue of $505.50 million during the quarter, compared to analysts’ expectations of $489.36 million. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 EPS. equities analysts predict that Palo Alto Networks will post -0.37 earnings per share for the current fiscal year.

In related news, President Mark Anderson sold 15,614 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $144.16, for a total transaction of $2,250,914.24. Following the transaction, the president now directly owns 186,413 shares in the company, valued at $26,873,298.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Carl M. Eschenbach sold 1,572 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $144.99, for a total transaction of $227,924.28. Following the transaction, the director now owns 3,619 shares in the company, valued at $524,718.81. The disclosure for this sale can be found here. In the last three months, insiders sold 346,785 shares of company stock worth $51,471,366. 4.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. increased its holdings in shares of 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 valued at $233,811,000 after purchasing an additional 1,462,162 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of 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 valued at $8,760,000 after purchasing an additional 1,163,306 shares during the last quarter. Northern Trust Corp increased its holdings in shares of 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 valued at $152,883,000 after purchasing an additional 598,115 shares during the last quarter. ETF Managers Group LLC acquired a new position in shares of Palo Alto Networks in the second quarter valued at $48,287,000. Finally, Sirios Capital Management L P acquired a new position in shares of Palo Alto Networks in the second quarter valued at $40,567,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

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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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