Palo Alto Networks (NYSE:PANW) Research Coverage Started at Rosenblatt Securities

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Rosenblatt Securities assumed coverage on shares of Palo Alto Networks (NYSE:PANW) in a research note released on Monday, AnalystRatings.com reports. The firm issued a hold rating and a $220.00 price objective on the network technology company’s stock.

“We are initiating coverage of PANW with a Neutral rating. We believe PANW is a transition story. The fundamental question among many investors is whether the company can successfully transition from its perimeter-based firewall roots to be relevant in today‚Äôs cloud-first world where the security perimeter is not clearly defined. In our view, the company has a compelling product vision and is well on its way of becoming the vendor with most comprehensive security solutions to address not just the cloud and not just the on-premise environments but a highly complex hybrid one, which is the real solution every large organization is looking for. To that end, the company already offers robust endpoint security and cloud security, including a cloud version of its firewall (NGFW) capabilities.”,” the firm’s analyst wrote.

PANW has been the topic of a number of other research reports. Bank of America lowered their price target on Palo Alto Networks from $307.00 to $275.00 and set a buy rating on the stock in a report on Tuesday, August 20th. Deutsche Bank lowered their price target on Palo Alto Networks from $305.00 to $275.00 and set a buy rating on the stock in a report on Thursday, May 30th. Robert W. Baird reiterated a buy rating and set a $275.00 price target on shares of Palo Alto Networks in a report on Wednesday, August 14th. Northland Securities set a $240.00 price objective on Palo Alto Networks and gave the company a hold rating in a research report on Friday, September 6th. Finally, Mizuho reduced their price objective on Palo Alto Networks from $265.00 to $245.00 and set a buy rating for the company in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $261.23.

Shares of PANW stock traded down $6.24 on Monday, reaching $208.17. 685,986 shares of the company’s stock traded hands, compared to its average volume of 1,339,444. Palo Alto Networks has a 12-month low of $160.08 and a 12-month high of $260.63. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.86 and a current ratio of 1.86. The company has a market capitalization of $19.85 billion, a P/E ratio of 330.43, a price-to-earnings-growth ratio of 19.35 and a beta of 0.94. The business’s 50 day moving average price is $212.09 and its two-hundred day moving average price is $223.04.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Wednesday, September 4th. The network technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). Palo Alto Networks had a negative net margin of 2.82% and a positive return on equity of 5.13%. The business had revenue of $805.80 million for the quarter, compared to analysts’ expectations of $803.56 million. During the same quarter in the prior year, the firm posted $1.28 EPS. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. Research analysts predict that Palo Alto Networks will post 0.47 earnings per share for the current year.

In other Palo Alto Networks news, CFO Kathleen Bonanno sold 1,609 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $224.00, for a total value of $360,416.00. Following the completion of the sale, the chief financial officer now owns 28,572 shares of the company’s stock, valued at $6,400,128. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark D. Mclaughlin sold 40,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $205.14, for a total value of $8,205,600.00. Following the completion of the sale, the director now directly owns 245,221 shares of the company’s stock, valued at approximately $50,304,635.94. The disclosure for this sale can be found here. Insiders sold 119,220 shares of company stock valued at $25,827,116 in the last ninety days. Insiders own 3.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Palo Alto Networks by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 8,343,076 shares of the network technology company’s stock worth $1,699,985,000 after purchasing an additional 179,388 shares during the last quarter. BlackRock Inc. lifted its position in shares of Palo Alto Networks by 4.2% during the 2nd quarter. BlackRock Inc. now owns 5,683,627 shares of the network technology company’s stock worth $1,158,096,000 after purchasing an additional 230,170 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Palo Alto Networks by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 5,074,350 shares of the network technology company’s stock worth $1,033,950,000 after purchasing an additional 590,200 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Palo Alto Networks by 2.9% during the 1st quarter. Clearbridge Investments LLC now owns 2,734,047 shares of the network technology company’s stock worth $664,045,000 after purchasing an additional 77,503 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Palo Alto Networks by 10.1% during the 2nd quarter. Morgan Stanley now owns 1,568,639 shares of the network technology company’s stock worth $319,627,000 after purchasing an additional 144,406 shares during the last quarter. 79.57% of the stock is 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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