ValuEngine cut shares of Palo Alto Networks (NYSE:PANW) from a strong-buy rating to a buy rating in a research note released on Monday morning.
A number of other analysts have also recently weighed in on the company. Morgan Stanley boosted their price target on Palo Alto Networks to $276.00 and gave the stock a top pick rating in a research report on Monday, October 8th. Zacks Investment Research cut Palo Alto Networks from a buy rating to a hold rating in a research report on Wednesday, September 12th. Argus boosted their price target on Palo Alto Networks to $275.00 and gave the stock a buy rating in a research report on Monday, September 10th. Stifel Nicolaus boosted their price target on Palo Alto Networks from $240.00 to $260.00 and gave the stock a buy rating in a research report on Friday, September 7th. Finally, Oppenheimer boosted their price target on Palo Alto Networks from $235.00 to $275.00 and gave the stock an outperform rating in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the stock. Palo Alto Networks has an average rating of Buy and an average price target of $240.94.
Shares of NYSE:PANW traded down $3.12 on Monday, reaching $185.64. The company had a trading volume of 353,475 shares, compared to its average volume of 1,533,337. Palo Alto Networks has a twelve month low of $135.85 and a twelve month high of $239.50. The stock has a market capitalization of $16.76 billion, a P/E ratio of -337.53, a P/E/G ratio of 12.48 and a beta of 0.88. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.93 and a quick ratio of 1.93.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Thursday, September 6th. The network technology company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. Palo Alto Networks had a negative return on equity of 4.12% and a negative net margin of 6.51%. The company had revenue of $658.10 million during the quarter, compared to analysts’ expectations of $634.14 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. As a group, research analysts expect that Palo Alto Networks will post 0.61 EPS for the current fiscal year.
In related news, CFO Kathleen Bonanno sold 467 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $213.03, for a total transaction of $99,485.01. Following the transaction, the chief financial officer now directly owns 34,954 shares in the company, valued at $7,446,250.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $214.08, for a total value of $856,320.00. Following the transaction, the executive vice president now owns 384,522 shares in the company, valued at $82,318,469.76. The disclosure for this sale can be found here. Insiders have sold 219,178 shares of company stock worth $50,090,741 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. acquired a new stake in Palo Alto Networks during the third quarter valued at approximately $133,000. Private Advisor Group LLC boosted its holdings in Palo Alto Networks by 47.7% during the third quarter. Private Advisor Group LLC now owns 6,237 shares of the network technology company’s stock valued at $1,405,000 after purchasing an additional 2,013 shares in the last quarter. Chicago Equity Partners LLC boosted its holdings in Palo Alto Networks by 6.8% during the third quarter. Chicago Equity Partners LLC now owns 58,312 shares of the network technology company’s stock valued at $13,135,000 after purchasing an additional 3,730 shares in the last quarter. Morse Asset Management Inc boosted its holdings in Palo Alto Networks by 15.1% during the third quarter. Morse Asset Management Inc now owns 12,903 shares of the network technology company’s stock valued at $2,907,000 after purchasing an additional 1,695 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its holdings in Palo Alto Networks by 29.5% during the third quarter. Engineers Gate Manager LP now owns 37,921 shares of the network technology company’s stock valued at $8,542,000 after purchasing an additional 8,640 shares in the last quarter. 80.23% of the stock is currently owned by institutional investors.
Palo Alto Networks Company Profile
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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