Palo Alto Networks, Inc. (PANW) Receives Buy Rating from Oppenheimer Holdings, Inc.

Palo Alto Networks, Inc. (NYSE:PANW)‘s stock had its “buy” rating reaffirmed by equities researchers at Oppenheimer Holdings, Inc. in a note issued to investors on Tuesday. They presently have a $173.00 price target on the network technology company’s stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 24.76% from the company’s previous close.

PANW has been the subject of several other research reports. Evercore ISI restated an “in-line” rating and set a $145.00 price target (up previously from $140.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. UBS AG restated a “neutral” rating and set a $146.00 price target (up previously from $140.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. Wells Fargo & Company restated an “outperform” rating and set a $185.00 price target (up previously from $180.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. Maxim Group restated a “buy” rating and set a $195.00 price target (up previously from $168.00) on shares of Palo Alto Networks in a research note on Thursday, September 28th. Finally, Zacks Investment Research cut Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $160.33.

Palo Alto Networks (NYSE PANW) traded down $1.68 during trading on Tuesday, hitting $138.67. The stock had a trading volume of 1,093,200 shares, compared to its average volume of 1,738,309. Palo Alto Networks has a twelve month low of $107.31 and a twelve month high of $165.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.65 and a quick ratio of 1.65.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The company had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $487.53 million. During the same quarter last year, the company earned $0.50 EPS. Palo Alto Networks’s revenue for the quarter was up 27.0% compared to the same quarter last year. sell-side analysts anticipate that Palo Alto Networks will post -0.5 EPS for the current fiscal year.

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In other Palo Alto Networks news, Director Carl M. Eschenbach sold 1,572 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 3,619 shares in the company, valued at approximately $524,718.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nir Zuk sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $145.01, for a total value of $290,020.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 284,744 shares of company stock worth $42,239,296. Company insiders own 4.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Fox Run Management L.L.C. acquired a new stake in Palo Alto Networks during the 2nd quarter valued at approximately $415,000. First Trust Advisors LP grew its position in shares of Palo Alto Networks by 55.1% in the 3rd quarter. First Trust Advisors LP now owns 204,302 shares of the network technology company’s stock worth $29,440,000 after acquiring an additional 72,573 shares in the last quarter. Diversified Trust Co grew its position in shares of Palo Alto Networks by 7.6% in the 2nd quarter. Diversified Trust Co now owns 1,993 shares of the network technology company’s stock worth $267,000 after acquiring an additional 140 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Palo Alto Networks by 32.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 95,049 shares of the network technology company’s stock worth $12,719,000 after acquiring an additional 23,292 shares in the last quarter. Finally, Synovus Financial Corp grew its position in shares of Palo Alto Networks by 17.3% in the 2nd quarter. Synovus Financial Corp now owns 14,361 shares of the network technology company’s stock worth $1,919,000 after acquiring an additional 2,122 shares in the last quarter. Hedge funds and other institutional investors own 77.50% of the company’s stock.

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.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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