Palo Alto Networks (NYSE:PANW) Stock Rating Reaffirmed by Maxim Group

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Maxim Group reaffirmed their buy rating on shares of Palo Alto Networks (NYSE:PANW) in a research report released on Tuesday, November 26th, TipRanks reports. The brokerage currently has a $316.00 price target on the network technology company’s stock.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Co dropped their price objective on shares of Palo Alto Networks from $300.00 to $275.00 and set an overweight rating on the stock in a report on Thursday, September 5th. DA Davidson raised their target price on shares of Palo Alto Networks to $245.00 and gave the company a neutral rating in a research note on Tuesday, November 26th. Piper Jaffray Companies assumed coverage on shares of Palo Alto Networks in a research note on Friday, November 8th. They set a neutral rating and a $270.00 target price on the stock. BMO Capital Markets lifted their price objective on shares of Palo Alto Networks from $245.00 to $248.00 and gave the stock an outperform rating in a research note on Tuesday, November 26th. Finally, ValuEngine raised shares of Palo Alto Networks from a hold rating to a buy rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Palo Alto Networks presently has a consensus rating of Buy and a consensus target price of $261.06.

Shares of PANW stock traded down $1.39 on Tuesday, hitting $225.62. The stock had a trading volume of 1,206,917 shares, compared to its average volume of 1,326,987. Palo Alto Networks has a 52-week low of $168.80 and a 52-week high of $260.63. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market capitalization of $22.26 billion, a price-to-earnings ratio of 358.13 and a beta of 0.94. The stock’s 50 day moving average is $230.56 and its 200-day moving average is $215.51.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Monday, November 25th. The network technology company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $1.22. Palo Alto Networks had a negative net margin of 3.42% and a positive return on equity of 2.43%. The firm had revenue of $772.00 million for the quarter, compared to the consensus estimate of $769.34 million. During the same period in the prior year, the firm posted $1.17 EPS. The firm’s revenue was up 17.7% compared to the same quarter last year. Equities analysts expect that Palo Alto Networks will post -0.12 earnings per share for the current year.

In other Palo Alto Networks news, CEO Nikesh Arora bought 25,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was acquired at an average cost of $221.54 per share, for a total transaction of $5,538,500.00. Following the completion of the acquisition, the chief executive officer now owns 479,429 shares in the company, valued at approximately $106,212,700.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathleen Bonanno sold 1,610 shares of the business’s stock in a transaction that occurred on Sunday, October 20th. The shares were sold at an average price of $214.74, for a total value of $345,731.40. Following the sale, the chief financial officer now owns 46,636 shares of the company’s stock, valued at approximately $10,014,614.64. The disclosure for this sale can be found here. Insiders have sold 77,610 shares of company stock worth $16,437,971 over the last three months. Insiders own 2.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Resources Management Corp CT ADV purchased a new position in shares of Palo Alto Networks during the third quarter valued at approximately $25,000. Capital Investment Advisory Services LLC boosted its position in shares of Palo Alto Networks by 322.6% during the third quarter. Capital Investment Advisory Services LLC now owns 131 shares of the network technology company’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in Palo Alto Networks in the second quarter worth $30,000. Glassman Wealth Services boosted its position in Palo Alto Networks by 347.2% in the third quarter. Glassman Wealth Services now owns 161 shares of the network technology company’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. Finally, CSat Investment Advisory L.P. purchased a new position in Palo Alto Networks in the second quarter worth $33,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

About Palo Alto Networks

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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