Northland Securities Reaffirms “Buy” Rating for Palo Alto Networks (NYSE:PANW)

Northland Securities reissued their buy rating on shares of Palo Alto Networks (NYSE:PANW) in a report released on Monday morning, Price Targets.com reports.

A number of other equities analysts have also recently commented on PANW. Monness Crespi & Hardt lifted their target price on shares of Palo Alto Networks from $315.00 to $440.00 in a research report on Friday, February 19th. BTIG Research lifted their target price on shares of Palo Alto Networks from $419.00 to $460.00 and gave the stock a buy rating in a research report on Monday, February 8th. BMO Capital Markets upgraded shares of Palo Alto Networks from a market perform rating to an outperform rating and set a $455.00 target price on the stock in a research report on Monday, March 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palo Alto Networks from $423.00 to $426.00 and gave the stock a buy rating in a research report on Monday, March 1st. Finally, Morgan Stanley lifted their target price on shares of Palo Alto Networks from $423.00 to $515.00 and gave the stock an overweight rating in a research report on Thursday, February 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-eight have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $377.06.

Palo Alto Networks stock opened at $338.57 on Monday. The firm’s fifty day moving average price is $344.07 and its 200-day moving average price is $315.26. The company has a debt-to-equity ratio of 4.18, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market cap of $32.92 billion, a P/E ratio of -109.22 and a beta of 1.50. Palo Alto Networks has a fifty-two week low of $172.36 and a fifty-two week high of $403.00.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Sunday, February 21st. The network technology company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.12. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $985.90 million. Palo Alto Networks had a negative net margin of 8.36% and a negative return on equity of 8.66%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. On average, analysts predict that Palo Alto Networks will post -1.69 earnings per share for the current year.

In other news, Director Mark D. Mclaughlin sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, February 1st. The shares were sold at an average price of $361.78, for a total value of $14,471,200.00. Following the transaction, the director now owns 59,175 shares in the company, valued at $21,408,331.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark D. Mclaughlin sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $327.85, for a total transaction of $491,775.00. Following the completion of the transaction, the director now owns 59,190 shares in the company, valued at approximately $19,405,441.50. The disclosure for this sale can be found here. Insiders have sold 89,917 shares of company stock worth $32,113,001 in the last three months. 2.30% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bremer Bank National Association raised its holdings in shares of Palo Alto Networks by 0.9% during the first quarter. Bremer Bank National Association now owns 5,794 shares of the network technology company’s stock valued at $1,866,000 after purchasing an additional 50 shares during the last quarter. Security National Bank increased its holdings in Palo Alto Networks by 6.7% during the first quarter. Security National Bank now owns 14,129 shares of the network technology company’s stock valued at $4,550,000 after buying an additional 890 shares during the last quarter. Modus Advisors LLC increased its holdings in Palo Alto Networks by 7.7% during the first quarter. Modus Advisors LLC now owns 5,955 shares of the network technology company’s stock valued at $1,918,000 after buying an additional 424 shares during the last quarter. Fulton Bank N.A. increased its holdings in Palo Alto Networks by 11.7% during the first quarter. Fulton Bank N.A. now owns 964 shares of the network technology company’s stock valued at $310,000 after buying an additional 101 shares during the last quarter. Finally, Bard Financial Services Inc. purchased a new stake in Palo Alto Networks during the fourth quarter valued at approximately $1,084,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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