Palo Alto Networks (NASDAQ:PANW) Receives Overweight Rating from Morgan Stanley

Palo Alto Networks (NASDAQ:PANWGet Rating)‘s stock had its “overweight” rating restated by analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday, September 14th, Marketbeat reports. They presently have a $274.33 price objective on the network technology company’s stock. Morgan Stanley’s target price suggests a potential upside of 68.19% from the company’s current price.

Several other brokerages also recently commented on PANW. Wells Fargo & Company raised their target price on Palo Alto Networks from $233.33 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, August 23rd. Atlantic Securities assumed coverage on shares of Palo Alto Networks in a report on Friday, September 2nd. They set a “neutral” rating and a $165.00 price objective on the stock. Northland Securities upped their price objective on shares of Palo Alto Networks from $242.67 to $244.33 and gave the stock an “outperform” rating in a research report on Tuesday, August 23rd. Citigroup boosted their target price on Palo Alto Networks from $201.67 to $213.33 and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Finally, Cowen reaffirmed a “buy” rating and set a $206.67 target price on shares of Palo Alto Networks in a research report on Friday, May 20th. Four research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.79.

Palo Alto Networks Trading Down 1.8 %

NASDAQ PANW traded down $3.07 during trading on Wednesday, hitting $163.11. 57,506 shares of the company’s stock were exchanged, compared to its average volume of 3,907,362. The company has a market cap of $48.80 billion, a PE ratio of -183.29, a P/E/G ratio of 8.05 and a beta of 1.13. The stock’s 50 day moving average price is $182.39 and its two-hundred day moving average price is $180.69. Palo Alto Networks has a fifty-two week low of $140.52 and a fifty-two week high of $213.63.

Palo Alto Networks (NASDAQ:PANWGet Rating) last announced its earnings results on Monday, August 22nd. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. Palo Alto Networks had a negative return on equity of 42.61% and a negative net margin of 4.85%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.21) EPS. Analysts forecast that Palo Alto Networks will post 0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 4,162 shares of the firm’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $520.47, for a total value of $2,166,196.14. Following the sale, the executive vice president now directly owns 243,582 shares in the company, valued at approximately $126,777,123.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 4,162 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $520.47, for a total value of $2,166,196.14. Following the transaction, the executive vice president now owns 243,582 shares of the company’s stock, valued at $126,777,123.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $554.56, for a total value of $6,932,000.00. Following the sale, the chief executive officer now owns 462,514 shares in the company, valued at approximately $256,491,763.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,034 shares of company stock worth $23,954,654. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Palo Alto Networks

A number of hedge funds have recently added to or reduced their stakes in the business. Royal London Asset Management Ltd. boosted its stake in Palo Alto Networks by 6.5% during the 2nd quarter. Royal London Asset Management Ltd. now owns 36,932 shares of the network technology company’s stock valued at $18,253,000 after purchasing an additional 2,260 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Palo Alto Networks by 2,798.7% in the second quarter. Verition Fund Management LLC now owns 13,827 shares of the network technology company’s stock worth $6,830,000 after purchasing an additional 13,350 shares during the period. Prelude Capital Management LLC increased its holdings in shares of Palo Alto Networks by 16.5% in the second quarter. Prelude Capital Management LLC now owns 8,038 shares of the network technology company’s stock worth $3,970,000 after purchasing an additional 1,138 shares during the period. Schmidt P J Investment Management Inc. increased its holdings in shares of Palo Alto Networks by 5.0% in the second quarter. Schmidt P J Investment Management Inc. now owns 740 shares of the network technology company’s stock worth $421,000 after purchasing an additional 35 shares during the period. Finally, Stock Yards Bank & Trust Co. purchased a new position in Palo Alto Networks in the second quarter worth $883,000. 86.17% of the stock is currently owned by institutional investors.

Palo Alto Networks Company Profile

(Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, 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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