Palo Alto Networks (PANW) Shares Gap Down After Analyst Downgrade

Shares of Palo Alto Networks Inc (NYSE:PANW) gapped down prior to trading on Friday after Robert W. Baird lowered their price target on the stock from $290.00 to $275.00. The stock had previously closed at $205.50, but opened at $204.30. Robert W. Baird currently has an outperform rating on the stock. Palo Alto Networks shares last traded at $199.51, with a volume of 58146 shares trading hands.

A number of other analysts have also recently issued reports on PANW. ValuEngine upgraded shares of Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $247.00 price objective for the company in a research note on Wednesday, February 6th. Gabelli cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $226.91 price objective for the company. in a research note on Wednesday, February 20th. They noted that the move was a valuation call. UBS Group boosted their price objective on shares of Palo Alto Networks from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 20th. Finally, Credit Suisse Group restated a “sell” rating and issued a $160.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Palo Alto Networks currently has an average rating of “Buy” and an average target price of $262.42.

In other Palo Alto Networks news, EVP Lee Klarich sold 4,500 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $234.11, for a total value of $1,053,495.00. Following the sale, the executive vice president now owns 295,449 shares of the company’s stock, valued at approximately $69,167,565.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark D. Mclaughlin sold 950 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $250.05, for a total transaction of $237,547.50. Following the completion of the sale, the director now directly owns 206,171 shares in the company, valued at approximately $51,553,058.55. The disclosure for this sale can be found here. Insiders have sold 242,844 shares of company stock worth $58,586,545 in the last ninety days. 3.10% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in PANW. Alpha Omega Wealth Management LLC bought a new stake in Palo Alto Networks in the 1st quarter valued at $26,000. Manchester Capital Management LLC bought a new stake in Palo Alto Networks in the 1st quarter valued at $26,000. C J Advisory Inc bought a new stake in Palo Alto Networks in the 1st quarter valued at $30,000. Cable Hill Partners LLC increased its holdings in Palo Alto Networks by 226.1% in the 1st quarter. Cable Hill Partners LLC now owns 150 shares of the network technology company’s stock valued at $37,000 after buying an additional 104 shares during the period. Finally, Bruderman Asset Management LLC bought a new stake in Palo Alto Networks in the 4th quarter valued at $38,000. 81.16% of the stock is currently owned by hedge funds and other institutional investors.

The firm has a market cap of $20.18 billion, a PE ratio of -363.89, a price-to-earnings-growth ratio of 9.63 and a beta of 0.84. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.31.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Wednesday, May 29th. The network technology company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.06). The business had revenue of $726.60 million during the quarter, compared to the consensus estimate of $704.89 million. Palo Alto Networks had a negative net margin of 2.30% and a positive return on equity of 5.86%. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. As a group, equities analysts anticipate that Palo Alto Networks Inc will post 0.96 earnings per share for the current year.

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About Palo Alto Networks (NYSE:PANW)

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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