Imperial Capital Lowers Palo Alto Networks Inc. (PANW) Price Target to $180.00
Palo Alto Networks Inc. (NYSE:PANW) had its price target reduced by equities researchers at Imperial Capital from $190.00 to $180.00 in a research note issued to investors on Tuesday. The brokerage currently has an “outperform” rating on the network technology company’s stock. Imperial Capital’s target price points to a potential upside of 33.96% from the stock’s previous close.
A number of other research analysts have also recently issued reports on PANW. Barclays PLC cut their price objective on Palo Alto Networks from $200.00 to $175.00 and set an “overweight” rating for the company in a report on Tuesday, November 22nd. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $184.00 price objective on shares of Palo Alto Networks in a report on Monday. RBC Capital Markets reaffirmed an “outperform” rating and issued a $175.00 price target (down from $185.00) on shares of Palo Alto Networks in a report on Wednesday, August 31st. Argus reaffirmed a “buy” rating and issued a $205.00 price target on shares of Palo Alto Networks in a report on Saturday, September 3rd. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $170.00 price target (up from $167.00) on shares of Palo Alto Networks in a report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company. Palo Alto Networks currently has a consensus rating of “Buy” and a consensus price target of $180.06.
Palo Alto Networks (NYSE:PANW) opened at 134.37 on Tuesday. Palo Alto Networks has a 52-week low of $111.09 and a 52-week high of $194.73. The stock’s 50 day moving average is $150.83 and its 200 day moving average is $140.40. The company’s market cap is $12.32 billion.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Monday, November 21st. The network technology company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The company earned $398.10 million during the quarter, compared to analysts’ expectations of $400.20 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 was up 34.0% on a year-over-year basis. During the same period last year, the business earned $0.35 earnings per share. Equities research analysts forecast that Palo Alto Networks will post $2.78 earnings per share for the current year.
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In other Palo Alto Networks news, insider Nir Zuk sold 103,152 shares of the stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $159.36, for a total value of $16,438,302.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark D. Mclaughlin sold 26,423 shares of the stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $144.29, for a total value of $3,812,574.67. Following the completion of the transaction, the chief executive officer now owns 540,880 shares of the company’s stock, valued at $78,043,575.20. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Winslow Evans & Crocker Inc. increased its position in Palo Alto Networks by 10.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 814 shares of the network technology company’s stock valued at $100,000 after buying an additional 76 shares in the last quarter. Ayalon Holdings Ltd. increased its position in Palo Alto Networks by 110.0% in the second quarter. Ayalon Holdings Ltd. now owns 840 shares of the network technology company’s stock valued at $102,000 after buying an additional 440 shares in the last quarter. Toronto Dominion Bank increased its position in Palo Alto Networks by 59.3% in the third quarter. Toronto Dominion Bank now owns 774 shares of the network technology company’s stock valued at $123,000 after buying an additional 288 shares in the last quarter. Integrated Investment Consultants LLC increased its position in Palo Alto Networks by 6.7% in the second quarter. Integrated Investment Consultants LLC now owns 1,040 shares of the network technology company’s stock valued at $128,000 after buying an additional 65 shares in the last quarter. Finally, Amica Retiree Medical Trust purchased a new position in Palo Alto Networks during the third quarter valued at approximately $139,000. Hedge funds and other institutional investors own 87.20% of the company’s stock.
About Palo Alto Networks
Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s 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.
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