Palo Alto Networks (PANW) Rating Reiterated by Robert W. Baird

Robert W. Baird reissued their buy rating on shares of Palo Alto Networks (NYSE:PANW) in a research note published on Friday. The firm currently has a $250.00 price target on the network technology company’s stock.

Other analysts have also recently issued research reports about the company. ValuEngine upgraded Palo Alto Networks from a buy rating to a strong-buy rating in a research report on Friday, August 3rd. Zacks Investment Research cut Palo Alto Networks from a hold rating to a sell rating in a research report on Tuesday, August 7th. Raymond James upped their price target on Palo Alto Networks from $240.00 to $254.00 and gave the stock an outperform rating in a research report on Wednesday, September 5th. Evercore ISI restated a buy rating and issued a $270.00 price target on shares of Palo Alto Networks in a research report on Friday, September 7th. Finally, Jefferies Financial Group upped their price target on Palo Alto Networks to $267.00 and gave the stock a buy rating in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $240.26.

Palo Alto Networks stock traded down $3.10 during mid-day trading on Friday, reaching $172.95. 5,456,383 shares of the stock traded hands, compared to its average volume of 1,400,343. The stock has a market cap of $16.60 billion, a PE ratio of -314.45, a price-to-earnings-growth ratio of 12.37 and a beta of 1.22. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.93 and a current ratio of 1.93. Palo Alto Networks has a 12-month low of $140.12 and a 12-month high of $239.50.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Thursday, November 29th. The network technology company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $656.00 million during the quarter, compared to analysts’ expectations of $632.16 million. Palo Alto Networks had a negative return on equity of 1.99% and a negative net margin of 5.04%. Palo Alto Networks’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. As a group, sell-side analysts predict that Palo Alto Networks will post 0.61 EPS for the current fiscal year.

In related news, President Mark Anderson sold 30,000 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $231.92, for a total transaction of $6,957,600.00. Following the completion of the transaction, the president now directly owns 140,841 shares of the company’s stock, valued at $32,663,844.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $235.24, for a total value of $9,409,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 284,711 shares of company stock valued at $62,090,136. Corporate insiders own 3.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in Palo Alto Networks by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 93,037 shares of the network technology company’s stock valued at $19,116,000 after buying an additional 1,165 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in Palo Alto Networks by 7.4% during the third quarter. Frontier Capital Management Co. LLC now owns 536,700 shares of the network technology company’s stock valued at $120,897,000 after buying an additional 37,183 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Palo Alto Networks by 2.6% during the second quarter. PNC Financial Services Group Inc. now owns 33,921 shares of the network technology company’s stock valued at $6,970,000 after buying an additional 844 shares during the last quarter. First Hawaiian Bank bought a new position in Palo Alto Networks during the third quarter valued at approximately $1,005,000. Finally, Morse Asset Management Inc boosted its stake in Palo Alto Networks by 15.1% during the third quarter. Morse Asset Management Inc now owns 12,903 shares of the network technology company’s stock valued at $2,907,000 after buying an additional 1,695 shares during the last quarter. 81.73% of the stock is owned by institutional investors.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network 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.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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