Palo Alto Networks Inc (PANW) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Palo Alto Networks Inc (NYSE:PANW) have received an average recommendation of “Buy” from the forty analysts that are covering the firm. Sixteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $147.48.

A number of research firms have recently weighed in on PANW. BMO Capital Markets cut their price target on Palo Alto Networks from $132.00 to $126.00 and set an “outperform” rating for the company in a research note on Friday. JMP Securities lowered their price objective on Palo Alto Networks from $175.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Wunderlich reissued a “buy” rating and set a $190.00 price objective on shares of Palo Alto Networks in a report on Friday, March 3rd. Vetr lowered Palo Alto Networks from a “buy” rating to a “hold” rating and set a $151.73 price objective on the stock. in a report on Tuesday, January 31st. Finally, BTIG Research lowered their price objective on Palo Alto Networks from $190.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, March 1st.

Shares of Palo Alto Networks (NYSE:PANW) traded down 0.27% during midday trading on Friday, hitting $108.55. 1,480,866 shares of the stock were exchanged. The firm’s market cap is $9.99 billion. Palo Alto Networks has a 12-month low of $107.31 and a 12-month high of $165.69. The firm has a 50-day moving average price of $113.13 and a 200 day moving average price of $136.33.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Tuesday, February 28th. The network technology company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The firm earned $422.60 million during the quarter, compared to the consensus estimate of $429.91 million. Palo Alto Networks had a negative return on equity of 35.75% and a negative net margin of 16.83%. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. Analysts predict that Palo Alto Networks will post $2.48 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Capstone Asset Management Co. boosted its position in Palo Alto Networks by 0.5% in the third quarter. Capstone Asset Management Co. now owns 1,924 shares of the network technology company’s stock worth $307,000 after buying an additional 10 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in Palo Alto Networks by 0.6% in the third quarter. HBK Sorce Advisory LLC now owns 2,495 shares of the network technology company’s stock worth $398,000 after buying an additional 14 shares during the last quarter. Winfield Associates Inc. boosted its position in Palo Alto Networks by 0.9% in the third quarter. Winfield Associates Inc. now owns 2,845 shares of the network technology company’s stock worth $453,000 after buying an additional 25 shares during the last quarter. Middleton & Co Inc MA boosted its position in Palo Alto Networks by 0.7% in the third quarter. Middleton & Co Inc MA now owns 9,545 shares of the network technology company’s stock worth $1,521,000 after buying an additional 65 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Palo Alto Networks by 2.9% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 2,297 shares of the network technology company’s stock worth $366,000 after buying an additional 65 shares during the last quarter. 86.51% of the stock is owned by institutional investors and hedge funds.

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Palo Alto Networks Company Profile

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.

5 Day Chart for NYSE:PANW

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