Raymond James lowered shares of Palo Alto Networks (NASDAQ:PANW) from a strong-buy rating to an outperform rating in a report released on Monday, TheFlyOnTheWall.com reports. Raymond James currently has $56.00 price objective on the stock, down from their previous price objective of $63.00.
PANW has been the subject of a number of other recent research reports. Analysts at Cowen and Company raised their price target on shares of Palo Alto Networks from $43.00 to $45.00 in a research note to investors on Tuesday, November 26th. Separately, analysts at Credit Suisse raised their price target on shares of Palo Alto Networks from $57.50 to $60.00 in a research note to investors on Tuesday, November 26th. Finally, analysts at Barclays raised their price target on shares of Palo Alto Networks from $58.00 to $60.00 in a research note to investors on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $57.48.
Shares of Palo Alto Networks (NASDAQ:PANW) traded down 0.69% during mid-day trading on Monday, hitting $49.15. The stock had a trading volume of 247,568 shares. Palo Alto Networks has a one year low of $39.08 and a one year high of $62.19. The stock’s 50-day moving average is $44.00 and its 200-day moving average is $46.29. The company’s market cap is $3.522 billion.
Palo Alto Networks (NASDAQ:PANW) last released its earnings data on Monday, November 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $128.20 million for the quarter, compared to the consensus estimate of $120.81 million. During the same quarter last year, the company posted $0.04 earnings per share. Palo Alto Networks’s revenue was up 49.2% compared to the same quarter last year. On average, analysts predict that Palo Alto Networks will post $0.42 earnings per share for the current fiscal year.
In other Palo Alto Networks news, VP Rajiv Batra sold 15,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $50.00, for a total transaction of $750,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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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