Palo Alto Networks (NYSE:PANW) Receives “Outperform” Rating from Northland Securities

Northland Securities reissued their outperform rating on shares of Palo Alto Networks (NYSE:PANW) in a research report report published on Friday, The Fly reports. They currently have a $285.00 price target on the network technology company’s stock, up from their prior price target of $274.00.

PANW has been the subject of several other reports. Rosenblatt Securities reiterated a buy rating and issued a $270.00 target price on shares of Palo Alto Networks in a research note on Friday. Dougherty & Co upgraded shares of Palo Alto Networks from a neutral rating to a buy rating and set a $260.00 price objective for the company in a research report on Tuesday. Robert W. Baird restated a buy rating on shares of Palo Alto Networks in a research report on Friday. SunTrust Banks upped their price target on Palo Alto Networks from $220.00 to $250.00 and gave the stock a buy rating in a report on Monday, May 18th. Finally, Barclays raised their price objective on Palo Alto Networks from $236.00 to $280.00 and gave the company an overweight rating in a report on Friday. Twelve research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Palo Alto Networks presently has an average rating of Buy and an average target price of $254.48.

Shares of NYSE PANW traded up $8.43 during trading on Friday, reaching $237.93. 4,098,348 shares of the company traded hands, compared to its average volume of 1,345,703. The stock has a market cap of $22.88 billion, a P/E ratio of -100.82 and a beta of 1.14. The firm’s fifty day simple moving average is $195.88 and its 200 day simple moving average is $214.24. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.13. Palo Alto Networks has a 12-month low of $125.47 and a 12-month high of $251.10.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Thursday, May 21st. The network technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of ($0.37) by $1.54. Palo Alto Networks had a negative return on equity of 5.65% and a negative net margin of 7.01%. The company had revenue of $869.40 million during the quarter, compared to analysts’ expectations of $831.52 million. During the same period last year, the business earned $1.31 earnings per share. Palo Alto Networks’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, research analysts expect 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 company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $194.20, for a total value of $2,330,400.00. Following the sale, the executive vice president now owns 986,875 shares in the company, valued at approximately $191,651,125. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Donovan acquired 8,127 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $184.62 per share, with a total value of $1,500,406.74. Following the completion of the transaction, the director now directly owns 11,222 shares in the company, valued at $2,071,805.64. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Howard Wealth Management LLC acquired a new position in Palo Alto Networks in the fourth quarter valued at $25,000. Clean Yield Group acquired a new position in Palo Alto Networks during the first quarter valued at approximately $30,000. Keebeck Wealth Management LLC acquired a new position in Palo Alto Networks during the fourth quarter valued at approximately $37,000. Farmers & Merchants Investments Inc. grew its stake in Palo Alto Networks by 2,150.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 225 shares of the network technology company’s stock worth $37,000 after buying an additional 215 shares during the period. Finally, Advisory Alpha LLC increased its position in shares of 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 acquiring an additional 150 shares in the last quarter. Hedge funds and other 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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