Morgan Stanley Cuts Palo Alto Networks (NYSE:PANW) Price Target to $300.00

Palo Alto Networks (NYSE:PANW) had its price target lowered by Morgan Stanley from $315.00 to $300.00 in a research report released on Tuesday, BenzingaRatingsTable reports. The firm currently has an overweight rating on the network technology company’s stock.

A number of other equities research analysts have also recently commented on PANW. Zacks Investment Research upgraded shares of Palo Alto Networks from a strong sell rating to a hold rating and set a $201.00 price target for the company in a report on Tuesday, January 28th. ValuEngine cut shares of Palo Alto Networks from a buy rating to a hold rating in a report on Thursday, November 28th. Dougherty & Co cut shares of Palo Alto Networks from a buy rating to a neutral rating in a report on Tuesday. First Analysis cut shares of Palo Alto Networks from a strong-buy rating to an outperform rating and reduced their price target for the stock from $295.00 to $290.00 in a report on Tuesday, January 14th. Finally, Royal Bank of Canada cut shares of Palo Alto Networks from an outperform rating to a sector perform rating and reduced their price target for the stock from $280.00 to $235.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $249.50.

Shares of PANW traded down $2.94 during trading hours on Tuesday, hitting $184.62. 3,584,448 shares of the stock were exchanged, compared to its average volume of 1,332,661. Palo Alto Networks has a fifty-two week low of $181.06 and a fifty-two week high of $251.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.78 and a quick ratio of 1.78. The business has a 50-day moving average of $240.36 and a 200-day moving average of $225.65. The firm has a market capitalization of $18.32 billion, a P/E ratio of -102.57 and a beta of 0.96.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Monday, February 24th. The network technology company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.07. Palo Alto Networks had a negative net margin of 5.58% and a negative return on equity of 2.23%. The company had revenue of $816.70 million during the quarter, compared to analysts’ expectations of $842.13 million. During the same period in the prior year, the company posted $1.51 earnings per share. Palo Alto Networks’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, analysts forecast that Palo Alto Networks will post -0.12 earnings per share for the current fiscal year.

In related news, Director Mark D. Mclaughlin sold 19,050 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $249.03, for a total transaction of $4,744,021.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.86, for a total transaction of $2,818,320.00. Following the transaction, the executive vice president now directly owns 875,246 shares in the company, valued at $205,560,275.56. The disclosure for this sale can be found here. Insiders sold 46,562 shares of company stock worth $11,132,020 over the last ninety days. Insiders own 2.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PANW. Dai Ichi Life Insurance Company Ltd increased its holdings in Palo Alto Networks by 3.8% during the fourth quarter. Dai Ichi Life Insurance Company Ltd now owns 1,298 shares of the network technology company’s stock worth $300,000 after buying an additional 47 shares during the last quarter. Integrated Investment Consultants LLC increased its holdings in Palo Alto Networks by 4.3% during the fourth quarter. Integrated Investment Consultants LLC now owns 1,168 shares of the network technology company’s stock worth $270,000 after buying an additional 48 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Palo Alto Networks by 21.1% during the fourth quarter. Quadrant Capital Group LLC now owns 275 shares of the network technology company’s stock worth $59,000 after buying an additional 48 shares during the last quarter. OLD National Bancorp IN increased its holdings in Palo Alto Networks by 3.3% during the fourth quarter. OLD National Bancorp IN now owns 1,550 shares of the network technology company’s stock worth $358,000 after buying an additional 50 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Palo Alto Networks by 2.0% during the fourth quarter. Parallel Advisors LLC now owns 2,784 shares of the network technology company’s stock worth $644,000 after buying an additional 54 shares during the last quarter. 79.32% of the stock is currently owned by institutional investors.

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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