Palo Alto Networks, Inc. (PANW) Receives “Outperform” Rating from Raymond James Financial, Inc.

Palo Alto Networks, Inc. (NYSE:PANW)‘s stock had its “outperform” rating restated by Raymond James Financial, Inc. in a report issued on Tuesday, September 5th. They currently have a $160.00 price objective on the network technology company’s stock, up from their previous price objective of $145.00. Raymond James Financial, Inc.’s price target would suggest a potential upside of 11.00% from the stock’s current price.

Other equities analysts have also issued reports about the stock. UBS AG restated a “neutral” rating and issued a $140.00 price objective (up from $130.00) on shares of Palo Alto Networks in a report on Monday, June 5th. Evercore ISI set a $140.00 price objective on shares of Palo Alto Networks and gave the stock a “hold” rating in a report on Saturday, June 17th. William Blair restated a “market perform” rating on shares of Palo Alto Networks in a report on Tuesday, September 5th. Imperial Capital upgraded shares of Palo Alto Networks from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $137.00 to $165.00 in a report on Tuesday, September 5th. Finally, Vetr lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $140.90 price objective for the company. in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $157.91.

Shares of Palo Alto Networks (NYSE PANW) opened at 144.14 on Tuesday. The company’s 50 day moving average price is $134.27 and its 200-day moving average price is $125.68. The stock’s market capitalization is $13.24 billion. Palo Alto Networks has a 12 month low of $107.31 and a 12 month high of $165.69.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The company had revenue of $509.00 million during the quarter, compared to the consensus estimate of $487.53 million. During the same period in the prior year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. Equities analysts predict that Palo Alto Networks will post $3.34 earnings per share for the current year.

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In related news, insider Nir Zuk sold 2,000 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $145.01, for a total value of $290,020.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James J. Goetz sold 30,000 shares of the stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the completion of the sale, the director now directly owns 271,645 shares in the company, valued at $37,478,860.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,572 shares of company stock valued at $4,657,044. 4.80% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. WFG Advisors LP increased its position in shares of Palo Alto Networks by 5.9% during the first quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock worth $101,000 after acquiring an additional 50 shares during the period. Global X Management Co. LLC increased its position in shares of Palo Alto Networks by 31.9% during the first quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock worth $106,000 after acquiring an additional 227 shares during the period. Sun Life Financial INC increased its position in shares of Palo Alto Networks by 785.0% during the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock worth $134,000 after acquiring an additional 887 shares during the period. First Interstate Bank increased its position in shares of Palo Alto Networks by 130.7% during the first quarter. First Interstate Bank now owns 1,375 shares of the network technology company’s stock worth $155,000 after acquiring an additional 779 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Palo Alto Networks by 30.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock worth $188,000 after acquiring an additional 322 shares during the period. 77.05% of the stock is currently owned by institutional investors.

About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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