Palo Alto Networks (NYSE:PANW) PT Lowered to $240.00 at Wedbush

Palo Alto Networks (NYSE:PANW) had its price objective trimmed by Wedbush from $275.00 to $240.00 in a research report released on Tuesday morning, AnalystRatings.com reports. The brokerage currently has an outperform rating on the network technology company’s stock.

Several other analysts have also weighed in on PANW. Credit Suisse Group restated a sell rating and set a $195.00 price target on shares of Palo Alto Networks in a report on Thursday, November 28th. ValuEngine lowered Palo Alto Networks from a buy rating to a hold rating in a report on Thursday, November 28th. Maxim Group restated a buy rating and set a $316.00 price target on shares of Palo Alto Networks in a report on Tuesday, November 26th. BMO Capital Markets lowered Palo Alto Networks from an outperform rating to a market perform rating and decreased their price target for the company from $248.00 to $220.00 in a report on Tuesday. Finally, Bank of America lowered Palo Alto Networks from a buy rating to a neutral rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nineteen have given a buy rating to the stock. Palo Alto Networks presently has an average rating of Buy and a consensus target price of $249.50.

Shares of PANW traded down $2.94 during mid-day trading on Tuesday, hitting $184.62. 3,584,448 shares of the stock were exchanged, compared to its average volume of 1,332,661. The company has a market cap of $18.32 billion, a PE ratio of -102.57 and a beta of 0.96. Palo Alto Networks has a 52-week low of $181.06 and a 52-week high of $251.10. The firm has a 50-day moving average of $240.36 and a two-hundred day moving average of $225.65. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.78 and a current ratio of 1.78.

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

In other news, CAO Jean Compeau sold 1,450 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $241.29, for a total transaction of $349,870.50. Following the transaction, the chief accounting officer now owns 25,145 shares of the company’s stock, valued at approximately $6,067,237.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nir Zuk sold 12,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $226.39, for a total value of $2,716,680.00. Insiders sold a total of 46,562 shares of company stock worth $11,132,020 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Verus Capital Partners LLC bought a new position in shares of Palo Alto Networks during the 4th quarter worth $234,000. Pearl River Capital LLC grew its position in shares of Palo Alto Networks by 1,056.8% during the 4th quarter. Pearl River Capital LLC now owns 1,527 shares of the network technology company’s stock worth $353,000 after buying an additional 1,395 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of Palo Alto Networks during the 4th quarter worth $17,344,000. National Pension Service grew its position in shares of Palo Alto Networks by 4.7% during the 4th quarter. National Pension Service now owns 135,292 shares of the network technology company’s stock worth $31,286,000 after buying an additional 6,018 shares in the last quarter. Finally, Laffer Investments bought a new position in shares of Palo Alto Networks during the 4th quarter worth $73,000. 79.32% of the stock is currently owned by institutional investors and hedge funds.

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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