Palo Alto Networks (NYSE:PANW) Stock Rating Reaffirmed by Bank of America

Bank of America reissued their neutral rating on shares of Palo Alto Networks (NYSE:PANW) in a research report released on Friday, BenzingaRatingsTable reports. They currently have a $255.00 price objective on the network technology company’s stock, up from their prior price objective of $200.00.

Other analysts have also issued reports about the company. Wedbush decreased their price objective on Palo Alto Networks from $275.00 to $240.00 and set an outperform rating on the stock in a research note on Tuesday, February 25th. Northland Securities reissued an outperform rating and issued a $285.00 price target (up from $274.00) on shares of Palo Alto Networks in a report on Friday. Raymond James lowered shares of Palo Alto Networks from an outperform rating to a market perform rating in a research report on Tuesday, February 25th. BMO Capital Markets upped their target price on shares of Palo Alto Networks from $220.00 to $230.00 and gave the stock a market perform rating in a report on Monday, May 18th. Finally, SunTrust Banks raised their price target on shares of Palo Alto Networks from $220.00 to $250.00 and gave the company a buy rating in a report on Monday, May 18th. Twelve analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Palo Alto Networks currently has an average rating of Buy and an average price target of $254.48.

NYSE:PANW traded up $8.43 on Friday, reaching $237.93. 4,098,348 shares of the company’s stock were exchanged, compared to its average volume of 1,345,703. The stock has a fifty day simple moving average of $195.88 and a 200-day simple moving average of $214.24. Palo Alto Networks has a 52 week low of $125.47 and a 52 week high of $251.10. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a market cap of $22.88 billion, a price-to-earnings ratio of -100.82 and a beta of 1.14.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, May 21st. The network technology company reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $1.54. Palo Alto Networks had a negative net margin of 7.01% and a negative return on equity of 5.65%. The company had revenue of $869.40 million during the quarter, compared to the consensus estimate of $831.52 million. During the same period last year, the firm earned $1.31 EPS. Palo Alto Networks’s revenue for the quarter was up 19.7% on a year-over-year basis. As a group, sell-side analysts predict that Palo Alto Networks will post -0.77 EPS for the current year.

In related news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $165.75, for a total transaction of $1,989,000.00. Following the transaction, the executive vice president now directly owns 838,699 shares in the company, valued at approximately $139,014,359.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Donovan purchased 8,102 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was bought at an average cost of $185.35 per share, for a total transaction of $1,501,705.70. Following the completion of the purchase, the director now directly owns 11,222 shares in the company, valued at $2,079,997.70. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Howard Wealth Management LLC bought a new stake in Palo Alto Networks in the 4th quarter worth $25,000. Clean Yield Group purchased a new stake in Palo Alto Networks during the 1st quarter valued at about $30,000. Keebeck Wealth Management LLC purchased a new stake in Palo Alto Networks during the 4th quarter valued at about $37,000. Farmers & Merchants Investments Inc. increased its stake in Palo Alto Networks by 2,150.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 225 shares of the network technology company’s stock valued at $37,000 after purchasing an additional 215 shares in the last quarter. Finally, Advisory Alpha LLC raised its holdings in Palo Alto Networks by 1,153.8% in the fourth quarter. Advisory Alpha LLC now owns 163 shares of the network technology company’s stock worth $39,000 after buying an additional 150 shares during the last quarter. Institutional investors own 77.99% 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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