ValuEngine Lowers Palo Alto Networks (PANW) to Buy

ValuEngine downgraded shares of Palo Alto Networks (NYSE:PANW) from a strong-buy rating to a buy rating in a research report released on Wednesday, ValuEngine reports.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Palo Alto Networks from a hold rating to a buy rating and set a $270.00 price objective for the company in a research note on Wednesday, April 10th. UBS Group increased their price target on shares of Palo Alto Networks from $250.00 to $270.00 and gave the company an outperform rating in a research note on Wednesday, February 20th. Robert W. Baird reissued a buy rating on shares of Palo Alto Networks in a research note on Wednesday, February 27th. Deutsche Bank increased their price target on shares of Palo Alto Networks from $265.00 to $305.00 and gave the company a buy rating in a research note on Wednesday, February 27th. Finally, BMO Capital Markets increased their price target on shares of Palo Alto Networks from $240.00 to $285.00 and gave the company an outperform rating in a research note on Wednesday, February 27th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $268.75.

Shares of NYSE PANW opened at $234.95 on Wednesday. Palo Alto Networks has a 12-month low of $160.08 and a 12-month high of $260.63. The stock has a market cap of $22.29 billion, a P/E ratio of -427.18, a price-to-earnings-growth ratio of 10.63 and a beta of 0.84. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.87 and a quick ratio of 1.87.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Tuesday, February 26th. The network technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.20. Palo Alto Networks had a negative net margin of 3.47% and a positive return on equity of 4.69%. The company had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $682.32 million. During the same quarter in the prior year, the company earned $0.97 EPS. Palo Alto Networks’s revenue was up 30.3% compared to the same quarter last year. As a group, equities analysts forecast that Palo Alto Networks will post 0.96 earnings per share for the current year.

In other Palo Alto Networks news, EVP Lee Klarich sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $224.60, for a total transaction of $1,684,500.00. Following the sale, the executive vice president now directly owns 314,920 shares in the company, valued at approximately $70,731,032. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Jean Compeau sold 1,701 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $235.37, for a total transaction of $400,364.37. Following the sale, the chief accounting officer now owns 23,836 shares in the company, valued at $5,610,279.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,344 shares of company stock worth $60,271,045. Company insiders own 3.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in Palo Alto Networks by 40.5% during the 1st quarter. Principal Financial Group Inc. now owns 67,852 shares of the network technology company’s stock worth $16,480,000 after buying an additional 19,561 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new stake in Palo Alto Networks during the 1st quarter worth approximately $767,000. Rockefeller Capital Management L.P. lifted its holdings in Palo Alto Networks by 60.6% during the 1st quarter. Rockefeller Capital Management L.P. now owns 4,436 shares of the network technology company’s stock worth $1,077,000 after buying an additional 1,674 shares in the last quarter. MML Investors Services LLC lifted its holdings in Palo Alto Networks by 12.4% during the 1st quarter. MML Investors Services LLC now owns 4,718 shares of the network technology company’s stock worth $1,146,000 after buying an additional 521 shares in the last quarter. Finally, Sawtooth Solutions LLC lifted its holdings in Palo Alto Networks by 44.2% during the 1st quarter. Sawtooth Solutions LLC now owns 2,533 shares of the network technology company’s stock worth $615,000 after buying an additional 776 shares in the last quarter. Institutional investors own 80.16% of the company’s stock.

Palo Alto Networks Company Profile

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.

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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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