Palo Alto Networks (NASDAQ:PANW) Receives Outperform Rating from Oppenheimer

Oppenheimer reissued their outperform rating on shares of Palo Alto Networks (NASDAQ:PANWFree Report) in a research report released on Tuesday, Benzinga reports. Oppenheimer currently has a $330.00 target price on the network technology company’s stock.

A number of other equities research analysts also recently commented on PANW. Barclays reduced their target price on Palo Alto Networks from $400.00 to $345.00 and set an overweight rating for the company in a report on Wednesday, February 21st. Sanford C. Bernstein raised their target price on Palo Alto Networks from $335.00 to $364.00 and gave the company an outperform rating in a report on Tuesday. Capital One Financial downgraded Palo Alto Networks from an overweight rating to an equal weight rating and set a $302.00 price target for the company. in a research note on Wednesday, February 21st. KeyCorp lifted their price target on Palo Alto Networks from $355.00 to $384.00 and gave the stock an overweight rating in a research note on Thursday, May 16th. Finally, Rosenblatt Securities downgraded Palo Alto Networks from a buy rating to a neutral rating and cut their price target for the stock from $290.00 to $265.00 in a research note on Wednesday, February 21st. Twelve equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $317.20.

Read Our Latest Analysis on Palo Alto Networks

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $311.66 on Tuesday. The firm’s fifty day moving average price is $288.74 and its 200 day moving average price is $299.00. Palo Alto Networks has a 1-year low of $188.30 and a 1-year high of $380.84. The firm has a market cap of $100.70 billion, a price-to-earnings ratio of 48.70, a price-to-earnings-growth ratio of 4.32 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the firm posted $0.38 EPS. Palo Alto Networks’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, analysts expect that Palo Alto Networks will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the transaction, the president now directly owns 25,812 shares in the company, valued at approximately $7,230,715.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The disclosure for this sale can be found here. Insiders sold 280,193 shares of company stock valued at $80,670,132 over the last 90 days. 3.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palo Alto Networks

Institutional investors and hedge funds have recently made changes to their positions in the business. Frank Rimerman Advisors LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $27,000. Webster Bank N. A. lifted its stake in Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Financial Synergies Wealth Advisors Inc. lifted its stake in Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares during the last quarter. Cedar Mountain Advisors LLC lifted its stake in Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares during the last quarter. Finally, Ulland Investment Advisors LLC bought a new position in Palo Alto Networks during the first quarter worth $30,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Company Profile

(Get Free Report)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.

Further Reading

Analyst Recommendations for Palo Alto Networks (NASDAQ:PANW)

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