Palo Alto Networks Coverage Initiated at Piper Jaffray (PANW)

Share on StockTwits

Stock analysts at Piper Jaffray began coverage on shares of Palo Alto Networks (NASDAQ:PANW) in a report issued on Tuesday. The firm set an “overweight” rating and a $100.00 price target on the stock. Piper Jaffray’s price objective points to a potential upside of 22.07% from the stock’s previous close.

In other Palo Alto Networks news, Insider Nir Zuk sold 30,000 shares of the stock on the open market in a transaction dated Thursday, August 7th. The shares were sold at an average price of $80.35, for a total value of $2,410,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Palo Alto Networks (NASDAQ:PANW) traded down 0.81% on Tuesday, hitting $81.26. The stock had a trading volume of 621,285 shares. Palo Alto Networks has a 1-year low of $40.36 and a 1-year high of $85.78. The stock’s 50-day moving average is $80. and its 200-day moving average is $72.28. The company’s market cap is $6.263 billion.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Wednesday, May 28th. The company reported $0.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.10 by $0.01. The company had revenue of $150.70 million for the quarter, compared to the consensus estimate of $146.13 million. During the same quarter last year, the company posted $0.06 earnings per share. Palo Alto Networks’s revenue was up 48.8% compared to the same quarter last year. Analysts expect that Palo Alto Networks will post $0.40 EPS for the current fiscal year.

PANW has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Palo Alto Networks from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 29th. They now have a $83.10 price target on the stock. Separately, analysts at Pacific Crest reiterated an “outperform” rating on shares of Palo Alto Networks in a research note on Thursday, July 17th. They now have a $105.00 price target on the stock, up previously from $90.00. Finally, analysts at Goldman Sachs initiated coverage on shares of Palo Alto Networks in a research note on Wednesday, July 16th. They set a “conviction-buy” rating and a $97.00 price target on the stock. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $85.87.

Palo Alto Networks, Inc offers a network security platform that allows enterprises, service providers, and government entities to secure their networks.

Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.

Latest News

CLARCOR  Posts Quarterly Earnings, Beats Estimates By $0.04 EPS
CLARCOR Posts Quarterly Earnings, Beats Estimates By $0.04 EPS
Herman Miller, Inc.  Issues Q2 Earnings Guidance
Herman Miller, Inc. Issues Q2 Earnings Guidance
Pier 1 Imports Inc  Issues FY15 Earnings Guidance
Pier 1 Imports Inc Issues FY15 Earnings Guidance
Icon Plc Earns Buy Rating from Analysts at KeyCorp
Icon Plc Earns Buy Rating from Analysts at KeyCorp
Helen of Troy Corp. Now Covered by Analysts at Piper Jaffray
Helen of Troy Corp. Now Covered by Analysts at Piper Jaffray
Boulder Brands Now Covered by Piper Jaffray
Boulder Brands Now Covered by Piper Jaffray


Leave a Reply

 
© 2006-2014 Mideast Time.