Home / Networking / Palo Alto Networks (NYSE:PANW) Receives “Sell” Rating from Credit Suisse Group – Fairfield Current

Palo Alto Networks (NYSE:PANW) Receives “Sell” Rating from Credit Suisse Group – Fairfield Current

Credit Suisse Group reiterated their sell rating on shares of Palo Alto Networks (NYSE:PANW) in a research report report published on Wednesday, February 20th. The brokerage currently has a $160.00 price objective on the network technology company’s stock.

Several other research analysts have also weighed in on the company. UBS Group raised Palo Alto Networks from a neutral rating to a buy rating and set a $250.00 target price on the stock in a research report on Tuesday, January 22nd. Summit Insights lowered Palo Alto Networks from a buy rating to a hold rating in a research report on Monday, October 29th. Raymond James reaffirmed a buy rating on shares of Palo Alto Networks in a research report on Sunday, December 2nd. BMO Capital Markets raised Palo Alto Networks from a market perform rating to an outperform rating and set a $240.00 price objective on the stock in a report on Tuesday, January 22nd. They noted that the move was a valuation call. Finally, Wedbush raised Palo Alto Networks from a neutral rating to an outperform rating and increased their price objective for the company from $225.00 to $265.00 in a report on Thursday, January 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $267.37.

Shares of NYSE PANW traded down $3.04 during mid-day trading on Wednesday, hitting $239.72. 1,931,245 shares of the company traded hands, compared to its average volume of 1,434,344. The company has a market cap of $22.47 billion, a price-to-earnings ratio of -435.85, a P/E/G ratio of 12.48 and a beta of 0.86. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.31. Palo Alto Networks has a 1 year low of $160.08 and a 1 year high of $260.63.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Tuesday, February 26th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.29. The firm had revenue of $711.00 million during the quarter, compared to the consensus estimate of $682.32 million. Palo Alto Networks had a positive return on equity of 4.69% and a negative net margin of 3.47%. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. As a group, sell-side analysts expect that Palo Alto Networks will post 0.82 EPS for the current fiscal year.

In other Palo Alto Networks news, EVP Lee Klarich sold 7,500 shares of Palo Alto Networks stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $241.11, for a total transaction of $1,808,325.00. Following the transaction, the executive vice president now directly owns 310,620 shares in the company, valued at $74,893,588.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 30,000 shares of Palo Alto Networks stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $184.49, for a total value of $5,534,700.00. The disclosure for this sale can be found here. Insiders sold a total of 210,652 shares of company stock valued at $45,891,526 over the last three months. Insiders own 3.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PANW. Financial Advocates Investment Management lifted its holdings in shares of Palo Alto Networks by 65.2% in the fourth quarter. Financial Advocates Investment Management now owns 114 shares of the network technology company’s stock valued at $43,000 after purchasing an additional 45 shares in the last quarter. Bruderman Asset Management LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $38,000. Karp Capital Management Corp bought a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $40,000. Captrust Financial Advisors lifted its holdings in shares of Palo Alto Networks by 278.8% in the fourth quarter. Captrust Financial Advisors now owns 250 shares of the network technology company’s stock valued at $47,000 after purchasing an additional 184 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Palo Alto Networks by 26.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 262 shares of the network technology company’s stock valued at $49,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 78.89% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer’s network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

Further Reading: Depreciation

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