Palo Alto Networks Receives New Coverage from Analysts at Imperial Capital (PANW)

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Imperial Capital started coverage on shares of Palo Alto Networks (NASDAQ:PANW) in a research note released on Thursday morning, TheFlyOnTheWall.com reports. The firm issued an outperform rating and a $95.00 target price on the stock.

In other Palo Alto Networks news, Insider Nir Zuk sold 30,000 shares of Palo Alto Networks stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $80.35, for a total transaction of $2,410,500.00. The sale was disclosed in a document filed with the SEC, which is available at this link.

Palo Alto Networks (NASDAQ:PANW) traded down 0.35% during mid-day trading on Thursday, hitting $85.1899. 641,062 shares of the company’s stock traded hands. Palo Alto Networks has a 52 week low of $40.36 and a 52 week high of $87.79. The stock has a 50-day moving average of $80.41 and a 200-day moving average of $72.61. The company’s market cap is $6.566 billion.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.10 by $0.01. The company had revenue of $150.70 million for the quarter, compared to the consensus estimate of $146.13 million. During the same quarter last year, the company posted $0.06 earnings per share. Palo Alto Networks’s revenue was up 48.8% compared to the same quarter last year. Analysts expect that Palo Alto Networks will post $0.40 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Piper Jaffray initiated coverage on shares of Palo Alto Networks in a research note on Tuesday. They set an overweight rating and a $100.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Palo Alto Networks from an underperform rating to a neutral rating in a research note on Tuesday, July 29th. They now have a $83.10 price target on the stock. Finally, analysts at Pacific Crest reiterated an outperform rating on shares of Palo Alto Networks in a research note on Thursday, July 17th. They now have a $105.00 price target on the stock, up previously from $90.00. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $86.21.

Palo Alto Networks, Inc offers a network security platform that allows enterprises, service providers, and government entities to secure their networks.

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