Palo Alto Networks, Inc. (NASDAQ:PANW) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) have earned a consensus recommendation of “Moderate Buy” from the forty-two brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and twenty-seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $208.00.

PANW has been the subject of several research reports. TD Securities reiterated a “buy” rating and set a $230.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Hsbc Global Res raised shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 10th. Wells Fargo & Company increased their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Northland Securities lowered their price target on shares of Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 21st. Finally, Guggenheim reaffirmed a “sell” rating and set a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st.

Palo Alto Networks Stock Down 2.4%

Shares of NASDAQ PANW opened at $187.39 on Monday. The firm has a market cap of $124.95 billion, a price-to-earnings ratio of 107.08, a price-to-earnings-growth ratio of 5.23 and a beta of 0.97. The company’s 50-day simple moving average is $195.04 and its 200-day simple moving average is $185.73. Palo Alto Networks has a 52-week low of $142.01 and a 52-week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the company posted $0.66 EPS. Palo Alto Networks’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts anticipate that Palo Alto Networks will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the transaction, the executive vice president owned 101,135 shares in the company, valued at approximately $20,414,099.75. This trade represents a 4.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Aparna Bawa sold 526 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $190.00, for a total transaction of $99,940.00. Following the sale, the director owned 8,632 shares in the company, valued at $1,640,080. The trade was a 5.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 569,248 shares of company stock valued at $111,279,829. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PANW. Transce3nd LLC purchased a new stake in Palo Alto Networks during the 4th quarter worth about $25,000. Strategic Investment Solutions Inc. IL raised its position in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Anchor Investment Management LLC lifted its stake in Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 78 shares during the last quarter. Kiely Wealth Advisory Group Inc. boosted its holdings in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new position in Palo Alto Networks in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.