Palo Alto Networks (PANW) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Palo Alto Networks (NYSE:PANW) from a buy rating to a hold rating in a report issued on Wednesday morning.

According to Zacks, “Palo Alto Networks offers network security solutions to enterprises, service providers and government entities worldwide. We remain encouraged by the company’s healthy demand environment, new product launches and increasing adoption of the company’s next-generation security platforms. Revenue growth seems to be steady, aided by strength across all its geographical regions and business segments. Also, customer wins coupled with expansion of the existing customer base are the other positives. We believe that the company’s acquisitions synergies will also boost revenues, going forward. Also, the strategic partnerships with the likes of VMware, Splunk and Citrix, will continue to bring in customers for Palo Alto thereby boosting the top line. Nonetheless, a volatile spending environment and competition from peers remain concerns.”

PANW has been the topic of a number of other research reports. Imperial Capital boosted their target price on Palo Alto Networks from $165.00 to $175.00 and gave the stock an outperform rating in a research note on Wednesday, November 22nd. Telsey Advisory Group boosted their target price on Palo Alto Networks from $165.00 to $175.00 and gave the stock an outperform rating in a research note on Wednesday, November 22nd. Sanford C. Bernstein boosted their target price on Palo Alto Networks from $180.00 to $200.00 and gave the stock an outperform rating in a research note on Tuesday, November 21st. Dougherty & Co restated a buy rating and issued a $180.00 target price (up previously from $170.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Finally, Robert W. Baird restated a hold rating on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-two have issued a buy rating to the company. Palo Alto Networks presently has an average rating of Buy and an average price target of $162.84.

Palo Alto Networks (PANW) opened at $143.77 on Wednesday. Palo Alto Networks has a 12 month low of $107.31 and a 12 month high of $157.65.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. The business had revenue of $505.50 million during the quarter, compared to the consensus estimate of $489.36 million. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. equities analysts expect that Palo Alto Networks will post -0.37 EPS for the current year.

In other news, CEO Mark D. Mclaughlin sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $149.85, for a total value of $3,746,250.00. Following the transaction, the chief executive officer now owns 374,919 shares of the company’s stock, valued at $56,181,612.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carl M. Eschenbach sold 1,572 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $144.99, for a total transaction of $227,924.28. Following the completion of the transaction, the director now directly owns 3,619 shares in the company, valued at approximately $524,718.81. The disclosure for this sale can be found here. Insiders have sold a total of 329,171 shares of company stock worth $48,931,891 in the last three months. Insiders own 4.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Endurance Wealth Management Inc. increased its holdings in shares of Palo Alto Networks by 0.3% in the second quarter. Endurance Wealth Management Inc. now owns 3,610 shares of the network technology company’s stock worth $483,000 after purchasing an additional 11 shares during the period. Capstone Asset Management Co. increased its holdings in shares of Palo Alto Networks by 1.3% in the second quarter. Capstone Asset Management Co. now owns 2,284 shares of the network technology company’s stock worth $306,000 after purchasing an additional 30 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of Palo Alto Networks by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 16,971 shares of the network technology company’s stock worth $2,271,000 after purchasing an additional 43 shares during the period. WESPAC Advisors SoCal LLC increased its holdings in shares of Palo Alto Networks by 2.4% in the second quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the network technology company’s stock worth $284,000 after purchasing an additional 50 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Palo Alto Networks by 2.2% in the second quarter. Nordea Investment Management AB now owns 2,607 shares of the network technology company’s stock worth $349,000 after purchasing an additional 55 shares during the period. 79.88% of the stock is currently owned by hedge funds and other institutional investors.

WARNING: This story was originally posted by Community Financial News and is the property of of Community Financial News. If you are reading this story on another site, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.com-unik.info/2017/12/03/palo-alto-networks-panw-downgraded-by-zacks-investment-research-to-hold.html.

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.

Get a free copy of the Zacks research report on Palo Alto Networks (PANW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

What are top analysts saying about Palo Alto Networks Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Palo Alto Networks Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit