Palo Alto Networks (NASDAQ:PANW) Given “Market Outperform” Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Palo Alto Networks (NASDAQ:PANW) in a report issued on Tuesday,Benzinga reports. The firm currently has a $208.00 price target on the network technology company’s stock.

Several other equities research analysts have also recently issued reports on the company. Morgan Stanley lifted their price objective on Palo Alto Networks from $195.00 to $210.50 and gave the stock an “overweight” rating in a report on Friday, October 11th. JPMorgan Chase & Co. lifted their price target on Palo Alto Networks from $193.50 to $224.50 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Robert W. Baird increased their price objective on Palo Alto Networks from $212.50 to $217.50 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Hsbc Global Res lowered Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Friday, November 22nd. Finally, BMO Capital Markets upped their target price on shares of Palo Alto Networks from $195.00 to $212.50 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $200.04.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $177.17 on Tuesday. Palo Alto Networks has a 12 month low of $130.04 and a 12 month high of $207.24. The stock has a market capitalization of $116.26 billion, a PE ratio of 46.14, a price-to-earnings-growth ratio of 4.94 and a beta of 1.14. The business has a 50 day simple moving average of $190.32 and a 200-day simple moving average of $178.52.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Wednesday, November 20th. The network technology company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities research analysts anticipate that Palo Alto Networks will post 1.75 EPS for the current fiscal year.

Insider Activity

In related news, EVP Lee Klarich sold 120,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the transaction, the executive vice president now owns 365,856 shares of the company’s stock, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nikesh Arora sold 235,492 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at approximately $199,159,581.28. This represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 867,734 shares of company stock worth $161,546,523. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palo Alto Networks

Large investors have recently modified their holdings of the stock. Tradewinds LLC. increased its stake in Palo Alto Networks by 1.2% in the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock valued at $791,000 after buying an additional 28 shares during the period. Kathmere Capital Management LLC increased its stake in shares of Palo Alto Networks by 3.4% during the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after acquiring an additional 30 shares during the period. FLC Capital Advisors raised its holdings in Palo Alto Networks by 0.7% during the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after purchasing an additional 30 shares in the last quarter. Cromwell Holdings LLC raised its holdings in Palo Alto Networks by 3.0% during the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after purchasing an additional 30 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its position in Palo Alto Networks by 9.4% in the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Company Profile

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.