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.
TRADEMARK VIOLATION WARNING: “Palo Alto Networks (PANW) Shares Gap Down After Analyst Downgrade” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.dispatchtribunal.com/2019/06/01/palo-alto-networks-panw-shares-gap-down-after-analyst-downgrade.html.
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.
Featured Story: No Load Funds
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.