Palo Alto Networks (PANW) Stock Rating Reaffirmed by Robert W. Baird

Robert W. Baird reiterated their outperform rating on shares of Palo Alto Networks (NYSE:PANW) in a research report sent to investors on Thursday morning.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley lifted their target price on shares of Palo Alto Networks to $276.00 and gave the company a top pick rating in a research note on Monday, October 8th. Zacks Investment Research lowered shares of Palo Alto Networks from a buy rating to a hold rating in a research note on Wednesday, September 12th. ValuEngine raised shares of Palo Alto Networks from a buy rating to a strong-buy rating in a research note on Friday, August 3rd. Argus lifted their target price on shares of Palo Alto Networks to $275.00 and gave the company a buy rating in a research note on Monday, September 10th. Finally, Stifel Nicolaus lifted their target price on shares of Palo Alto Networks from $240.00 to $260.00 and gave the company a buy rating in a research note on Friday, September 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $240.94.

Shares of PANW opened at $193.51 on Thursday. The stock has a market cap of $18.16 billion, a PE ratio of -351.84, a P/E/G ratio of 13.59 and a beta of 0.88. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.93 and a current ratio of 1.93. Palo Alto Networks has a 1-year low of $135.85 and a 1-year high of $239.50.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, September 6th. The network technology company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The firm had revenue of $658.10 million for the quarter, compared to analyst estimates of $634.14 million. Palo Alto Networks had a negative net margin of 6.51% and a negative return on equity of 4.12%. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. Research analysts expect that Palo Alto Networks will post 0.61 EPS for the current year.

In other Palo Alto Networks news, EVP Nir Zuk sold 30,000 shares of Palo Alto Networks stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $199.94, for a total value of $5,998,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathleen Bonanno sold 1,097 shares of Palo Alto Networks stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $208.77, for a total transaction of $229,020.69. Following the completion of the transaction, the chief financial officer now directly owns 35,882 shares of the company’s stock, valued at $7,491,085.14. The disclosure for this sale can be found here. Insiders sold 290,275 shares of company stock valued at $64,322,762 over the last ninety days. Corporate insiders own 4.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board raised its holdings in Palo Alto Networks by 84.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,461,226 shares of the network technology company’s stock worth $300,238,000 after buying an additional 670,016 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Palo Alto Networks by 0.3% during the second quarter. Northern Trust Corp now owns 1,092,883 shares of the network technology company’s stock valued at $224,555,000 after purchasing an additional 3,313 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Palo Alto Networks by 19,903.8% during the first quarter. Summit Trail Advisors LLC now owns 848,163 shares of the network technology company’s stock valued at $848,000 after purchasing an additional 843,923 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Palo Alto Networks by 193.7% during the second quarter. Bank of Montreal Can now owns 545,383 shares of the network technology company’s stock valued at $112,061,000 after purchasing an additional 359,685 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Palo Alto Networks by 199.8% during the second quarter. First Trust Advisors LP now owns 529,520 shares of the network technology company’s stock valued at $108,800,000 after purchasing an additional 352,914 shares during the last quarter. 80.62% of the stock is owned by institutional investors and hedge funds.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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