Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) has received a consensus recommendation of “Moderate Buy” from the thirty-eight brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $227.69.
Several analysts recently weighed in on PANW shares. Scotiabank started coverage on shares of Palo Alto Networks in a research report on Wednesday, January 18th. They issued an “outperform” rating and a $155.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Palo Alto Networks from $217.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday, January 23rd. Redburn Partners began coverage on shares of Palo Alto Networks in a research note on Thursday, December 1st. They issued a “buy” rating and a $270.00 price objective on the stock. Loop Capital raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $183.00 to $200.00 in a research note on Thursday, November 10th. Finally, BMO Capital Markets lifted their price objective on shares of Palo Alto Networks from $218.00 to $225.00 in a research note on Friday, November 18th.
Palo Alto Networks Stock Performance
Palo Alto Networks stock opened at $169.28 on Monday. The firm’s 50-day moving average is $150.61 and its 200-day moving average is $159.94. Palo Alto Networks has a 1 year low of $132.22 and a 1 year high of $213.63. The company has a market cap of $50.85 billion, a P/E ratio of -345.47, a PEG ratio of 7.02 and a beta of 1.17.
Palo Alto Networks (NASDAQ:PANW – Get Rating) last posted its quarterly earnings results on Thursday, November 17th. The network technology company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. Palo Alto Networks had a negative net margin of 2.46% and a negative return on equity of 5.02%. As a group, sell-side analysts predict that Palo Alto Networks will post 0.77 earnings per share for the current year.
Insider Transactions at Palo Alto Networks
In other news, CFO Dipak Golechha sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $172.41, for a total transaction of $344,820.00. Following the completion of the transaction, the chief financial officer now directly owns 80,716 shares of the company’s stock, valued at approximately $13,916,245.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Dipak Golechha sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $172.41, for a total transaction of $344,820.00. Following the completion of the transaction, the chief financial officer now directly owns 80,716 shares of the company’s stock, valued at approximately $13,916,245.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lee Klarich sold 15,000 shares of the stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $166.74, for a total value of $2,501,100.00. Following the completion of the sale, the executive vice president now directly owns 634,905 shares of the company’s stock, valued at approximately $105,864,059.70. The disclosure for this sale can be found here. Insiders sold 245,264 shares of company stock valued at $39,471,885 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Avondale Wealth Management grew its holdings in shares of Palo Alto Networks by 200.0% during the third quarter. Avondale Wealth Management now owns 150 shares of the network technology company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Emfo LLC lifted its stake in shares of Palo Alto Networks by 200.0% in the third quarter. Emfo LLC now owns 150 shares of the network technology company’s stock worth $25,000 after acquiring an additional 100 shares during the period. JNBA Financial Advisors increased its holdings in shares of Palo Alto Networks by 200.0% during the third quarter. JNBA Financial Advisors now owns 150 shares of the network technology company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Ten Capital Wealth Advisors LLC increased its holdings in shares of Palo Alto Networks by 200.0% during the third quarter. Ten Capital Wealth Advisors LLC now owns 150 shares of the network technology company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Finally, Adirondack Trust Co. increased its holdings in shares of Palo Alto Networks by 200.0% during the third quarter. Adirondack Trust Co. now owns 156 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 104 shares in the last quarter. Institutional investors own 81.82% of the company’s stock.
About Palo Alto Networks
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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.
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