Palo Alto Networks, Inc. (NASDAQ:PANW) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) have been given an average recommendation of “Moderate Buy” by the thirty-five ratings firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and twenty-two have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $218.79.

A number of brokerages have issued reports on PANW. Barclays boosted their price objective on shares of Palo Alto Networks from $201.67 to $231.67 and gave the company an “overweight” rating in a research report on Tuesday, August 23rd. Stifel Nicolaus upped their price target on shares of Palo Alto Networks from $200.00 to $215.00 in a research report on Tuesday, August 23rd. Raymond James increased their target price on shares of Palo Alto Networks from $203.33 to $213.33 in a report on Tuesday, August 23rd. Atlantic Securities assumed coverage on shares of Palo Alto Networks in a report on Friday, September 2nd. They issued a “neutral” rating and a $165.00 target price for the company. Finally, BMO Capital Markets increased their price objective on shares of Palo Alto Networks from $216.67 to $225.00 in a report on Tuesday, August 23rd.

Palo Alto Networks Stock Down 2.9 %

PANW opened at $166.18 on Friday. The firm has a 50-day moving average price of $182.39 and a 200-day moving average price of $180.69. Palo Alto Networks has a twelve month low of $140.52 and a twelve month high of $213.63. The company has a market capitalization of $49.72 billion, a price-to-earnings ratio of -183.29, a PEG ratio of 8.23 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANWGet Rating) last announced its earnings results on Monday, August 22nd. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. Palo Alto Networks had a negative net margin of 4.85% and a negative return on equity of 42.61%. Palo Alto Networks’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.21) earnings per share. On average, sell-side analysts expect that Palo Alto Networks will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $554.56, for a total value of $6,932,000.00. Following the transaction, the chief executive officer now directly owns 462,514 shares of the company’s stock, valued at $256,491,763.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $501.62, for a total value of $6,019,440.00. Following the completion of the transaction, the executive vice president now directly owns 684,273 shares in the company, valued at approximately $343,245,022.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Nikesh Arora sold 12,500 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $554.56, for a total transaction of $6,932,000.00. Following the sale, the chief executive officer now owns 462,514 shares of the company’s stock, valued at $256,491,763.84. The disclosure for this sale can be found here. Insiders sold 46,034 shares of company stock valued at $23,954,654 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PANW. Nuveen Asset Management LLC increased its holdings in Palo Alto Networks by 317.3% during the fourth quarter. Nuveen Asset Management LLC now owns 1,237,932 shares of the network technology company’s stock worth $689,231,000 after buying an additional 941,271 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of Palo Alto Networks by 10.1% in the first quarter. 1832 Asset Management L.P. now owns 941,293 shares of the network technology company’s stock valued at $578,094,000 after acquiring an additional 85,993 shares during the period. Norges Bank bought a new stake in Palo Alto Networks during the fourth quarter valued at approximately $522,352,000. Northern Trust Corp lifted its position in Palo Alto Networks by 1.1% during the first quarter. Northern Trust Corp now owns 861,098 shares of the network technology company’s stock valued at $536,041,000 after purchasing an additional 8,994 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Palo Alto Networks by 3.3% during the second quarter. Legal & General Group Plc now owns 804,072 shares of the network technology company’s stock valued at $397,164,000 after purchasing an additional 25,652 shares during the last quarter. 86.17% of the stock is 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.

Featured Articles

Analyst Recommendations for Palo Alto Networks (NASDAQ:PANW)

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.