Goldman Sachs Group Downgrades Palo Alto Networks (PANW) to Neutral

Palo Alto Networks (NYSE:PANW) was downgraded by stock analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued on Monday.

Several other research analysts have also recently weighed in on PANW. Dougherty & Co boosted their price target on shares of Palo Alto Networks from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, September 28th. Robert W. Baird restated a “hold” rating and set a $149.00 price target on shares of Palo Alto Networks in a report on Thursday, September 28th. Evercore ISI upgraded shares of Palo Alto Networks from an “in-line” rating to an “outperform” rating and set a $180.00 price target on the stock in a report on Thursday. Oppenheimer restated a “buy” rating and set a $173.00 price target on shares of Palo Alto Networks in a report on Thursday, September 28th. Finally, Maxim Group restated a “buy” rating and set a $195.00 price target (up from $168.00) on shares of Palo Alto Networks in a report on Thursday, September 28th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $165.74.

Shares of Palo Alto Networks (NYSE:PANW) opened at $157.22 on Monday. The company has a market cap of $14,446.78, a PE ratio of -63.91 and a beta of 1.00. Palo Alto Networks has a 52-week low of $107.31 and a 52-week high of $158.78.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, November 20th. The network technology company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.68 by $0.06. The company had revenue of $505.50 million during the quarter, compared to the consensus estimate of $489.36 million. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share. equities analysts anticipate that Palo Alto Networks will post -0.37 EPS for the current fiscal year.

In other news, insider Nir Zuk sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $144.69, for a total value of $289,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark D. Mclaughlin sold 35,000 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $149.50, for a total transaction of $5,232,500.00. Following the completion of the sale, the chief executive officer now directly owns 348,901 shares of the company’s stock, valued at approximately $52,160,699.50. The disclosure for this sale can be found here. Insiders sold a total of 354,644 shares of company stock worth $52,415,318 in the last three months. Insiders own 4.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in shares of Palo Alto Networks by 2.2% in the 2nd quarter. Nordea Investment Management AB now owns 2,607 shares of the network technology company’s stock valued at $349,000 after purchasing an additional 55 shares in the last quarter. Principal Financial Group Inc. boosted its position in Palo Alto Networks by 1.2% during the 2nd quarter. Principal Financial Group Inc. now owns 5,590 shares of the network technology company’s stock valued at $748,000 after buying an additional 68 shares during the period. YorkBridge Wealth Partners LLC boosted its position in Palo Alto Networks by 1.4% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 5,198 shares of the network technology company’s stock valued at $691,000 after buying an additional 70 shares during the period. Grandeur Peak Global Advisors LLC boosted its position in Palo Alto Networks by 1.3% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 7,975 shares of the network technology company’s stock valued at $1,067,000 after buying an additional 100 shares during the period. Finally, Cypress Wealth Advisors LLC boosted its position in Palo Alto Networks by 3.7% during the 2nd quarter. Cypress Wealth Advisors LLC now owns 3,154 shares of the network technology company’s stock valued at $422,000 after buying an additional 113 shares during the period. 79.90% of the stock is owned by institutional investors.

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About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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