Palo Alto Networks Inc (NYSE:PANW) Receives Average Rating of “Buy” from Analysts

Palo Alto Networks Inc (NYSE:PANW) has earned a consensus rating of “Buy” from the thirty-five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $255.28.

A number of research firms recently weighed in on PANW. BTIG Research began coverage on Palo Alto Networks in a research report on Friday, March 27th. They issued a “neutral” rating for the company. Goldman Sachs Group increased their price target on Palo Alto Networks from $219.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Rosenblatt Securities began coverage on Palo Alto Networks in a research report on Tuesday. They issued a “buy” rating for the company. Monness Crespi & Hardt increased their price target on Palo Alto Networks from $210.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $280.00 price target on shares of Palo Alto Networks in a research report on Tuesday.

PANW stock traded down $1.51 during trading hours on Friday, hitting $225.39. 2,097,989 shares of the stock traded hands, compared to its average volume of 1,390,067. The stock has a 50-day simple moving average of $228.03 and a 200 day simple moving average of $213.33. Palo Alto Networks has a one year low of $125.47 and a one year high of $251.10. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.45.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, May 21st. The network technology company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $1.54. Palo Alto Networks had a negative return on equity of 6.50% and a negative net margin of 7.01%. The business had revenue of $869.40 million during the quarter, compared to analysts’ expectations of $831.52 million. During the same quarter last year, the business posted $1.31 earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. On average, sell-side analysts expect that Palo Alto Networks will post -0.55 earnings per share for the current fiscal year.

In other news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $194.20, for a total transaction of $2,330,400.00. Following the completion of the sale, the executive vice president now directly owns 986,875 shares of the company’s stock, valued at approximately $191,651,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 36,000 shares of company stock valued at $7,164,480 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Keebeck Wealth Management LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter valued at about $37,000. Advisory Alpha LLC grew its holdings in Palo Alto Networks by 1,153.8% in the 4th quarter. Advisory Alpha LLC now owns 163 shares of the network technology company’s stock valued at $39,000 after buying an additional 150 shares during the last quarter. Clean Yield Group acquired a new stake in Palo Alto Networks in the 1st quarter valued at approximately $30,000. Engrave Wealth Partners LLC acquired a new stake in Palo Alto Networks in the 4th quarter valued at approximately $43,000. Finally, Raab & Moskowitz Asset Management LLC acquired a new stake in Palo Alto Networks in the 4th quarter valued at approximately $46,000. 77.63% of the stock is currently 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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