Palo Alto Networks (NYSE:PANW) Stock Rating Upgraded by Dougherty & Co

Dougherty & Co upgraded shares of Palo Alto Networks (NYSE:PANW) from a neutral rating to a buy rating in a report issued on Tuesday, Briefing.com Automated Import reports. The brokerage currently has $260.00 price target on the network technology company’s stock.

A number of other equities research analysts have also recently commented on the company. Robert W. Baird reissued a buy rating on shares of Palo Alto Networks in a research note on Tuesday, February 25th. Goldman Sachs Group cut their target price on Palo Alto Networks from $265.00 to $195.00 and set a buy rating on the stock in a research note on Friday, March 20th. SunTrust Banks increased their target price on Palo Alto Networks from $220.00 to $250.00 and gave the stock a buy rating in a research note on Monday, May 18th. ValuEngine raised Palo Alto Networks from a hold rating to a buy rating in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada increased their target price on Palo Alto Networks from $175.00 to $225.00 and gave the stock a sector perform rating in a research note on Tuesday. Twelve research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $254.48.

Shares of PANW stock opened at $237.93 on Tuesday. The stock has a market cap of $22.88 billion, a price-to-earnings ratio of -100.82 and a beta of 1.14. The business’s fifty day moving average is $195.88 and its 200 day moving average is $214.24. Palo Alto Networks has a twelve month low of $125.47 and a twelve month high of $251.10. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.13.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, May 21st. The network technology company reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $1.54. The company had revenue of $869.40 million for the quarter, compared to analysts’ expectations of $831.52 million. Palo Alto Networks had a negative return on equity of 5.65% and a negative net margin of 7.01%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 earnings per share. Equities research analysts expect that Palo Alto Networks will post -0.77 earnings per share for the current fiscal year.

In related news, Director John Donovan acquired 8,102 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were purchased at an average price of $185.35 per share, with a total value of $1,501,705.70. Following the completion of the purchase, the director now directly owns 11,222 shares of the company’s stock, valued at $2,079,997.70. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 986,875 shares in the company, valued at approximately $191,651,125. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PANW. Norges Bank bought a new position in shares of Palo Alto Networks in the fourth quarter worth about $222,274,000. Eminence Capital LP bought a new position in shares of Palo Alto Networks in the first quarter worth about $87,267,000. Farallon Capital Management LLC raised its stake in shares of Palo Alto Networks by 81.7% in the fourth quarter. Farallon Capital Management LLC now owns 1,108,416 shares of the network technology company’s stock worth $256,321,000 after buying an additional 498,416 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth about $107,049,000. Finally, Harvard Management Co. Inc. grew its position in shares of Palo Alto Networks by 31.6% during the first quarter. Harvard Management Co. Inc. now owns 1,181,983 shares of the network technology company’s stock worth $193,798,000 after purchasing an additional 283,710 shares in the last quarter. 77.99% of the stock is currently owned by hedge funds and other 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.

Further Reading: Quiet Period Expirations

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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