Palo Alto Networks (PANW) Upgraded to Buy at Cleveland Research

Cleveland Research upgraded shares of Palo Alto Networks (NYSE:PANW) from a neutral rating to a buy rating in a research report sent to investors on Thursday, The Fly reports.

A number of other equities research analysts also recently weighed in on the company. Susquehanna Bancshares upgraded Palo Alto Networks from a neutral rating to a positive rating and lowered their target price for the stock from $150.00 to $145.00 in a report on Wednesday. UBS Group upgraded Palo Alto Networks from a neutral rating to a positive rating in a report on Wednesday. OTR Global upgraded Palo Alto Networks to a positive rating in a report on Friday, February 16th. Evercore ISI set a $180.00 price objective on Palo Alto Networks and gave the company a buy rating in a report on Wednesday, February 14th. Finally, KeyCorp boosted their price objective on Palo Alto Networks from $170.00 to $190.00 and gave the company an overweight rating in a report on Monday, February 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirty-seven have issued a buy rating to the stock. Palo Alto Networks presently has a consensus rating of Buy and an average target price of $167.27.

Shares of Palo Alto Networks (NYSE:PANW) traded down $0.32 during mid-day trading on Thursday, reaching $161.66. The company’s stock had a trading volume of 168,491 shares, compared to its average volume of 1,215,216. The company has a market capitalization of $14,880.00, a P/E ratio of -66.29 and a beta of 1.04. Palo Alto Networks has a 1-year low of $107.31 and a 1-year high of $167.73.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06. The business had revenue of $505.50 million during the quarter, compared to the consensus estimate of $489.36 million. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. sell-side analysts expect that Palo Alto Networks will post -0.37 EPS 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 stock was sold at an average price of $149.85, for a total value of $3,746,250.00. Following the sale, the chief executive officer now directly owns 374,919 shares in the company, valued at $56,181,612.15. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $2,250,914.24. Following the completion of the sale, the president now owns 186,413 shares in the company, valued at $26,873,298.08. The disclosure for this sale can be found here. In the last three months, insiders sold 396,644 shares of company stock worth $59,381,588. Insiders own 4.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PANW. The Manufacturers Life Insurance Company raised its stake in shares of Palo Alto Networks by 9.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,491 shares of the network technology company’s stock valued at $467,000 after purchasing an additional 305 shares during the period. Strs Ohio raised its stake in shares of Palo Alto Networks by 5.9% during the 3rd quarter. Strs Ohio now owns 6,225 shares of the network technology company’s stock valued at $897,000 after purchasing an additional 347 shares during the period. Nine Chapters Capital Management LLC raised its stake in shares of Palo Alto Networks by 18.2% during the 3rd quarter. Nine Chapters Capital Management LLC now owns 2,600 shares of the network technology company’s stock valued at $375,000 after purchasing an additional 400 shares during the period. Analyst IMS Investment Management Services Ltd. raised its stake in shares of Palo Alto Networks by 5.2% during the 3rd quarter. Analyst IMS Investment Management Services Ltd. now owns 9,330 shares of the network technology company’s stock valued at $1,306,000 after purchasing an additional 460 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Palo Alto Networks by 19.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,831 shares of the network technology company’s stock valued at $410,000 after purchasing an additional 461 shares during the period. Hedge funds and other institutional investors own 78.92% 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.

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