Palo Alto Networks Inc (PANW) is Downgraded by Needham to Hold

Palo Alto Networks Inc (PANW) was Downgraded by Needham to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Needham advised their investors in a research report released on May 27, 2016.

Many Wall Street Analysts have commented on Palo Alto Networks Inc. Shares were Reiterated by RBC Capital Mkts on May 27, 2016 to “Outperform” and Lowered the Price Target to $ 185 from a previous price target of $195 .Shares were Reiterated by Piper Jaffray on May 12, 2016 to “Overweight” and Lowered the Price Target to $ 180 from a previous price target of $208 .Wunderlich Upgraded Palo Alto Networks Inc on Apr 26, 2016 to ” Buy”, Price Target of the shares are set at $190.

On the company’s financial health, Palo Alto Networks Inc reported $0.42 EPS for the quarter, based on the information available during the earnings call on May 26, 2016. Analyst had a consensus estimate of $0.42. The company had revenue of $345.80 million for the quarter, compared to analysts expectations of $339.86 million. The company’s revenue was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Palo Alto Networks Inc closed down -0.42 points or -0.29% at $145.69 with 15,29,291 shares getting traded on Wednesday. Post opening the session at $146.37, the shares hit an intraday low of $143.39 and an intraday high of $147.42 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on May 24, 2016, Nir Zuk (CTO) sold 3,343 shares at $143.99 per share price. According to the SEC, on May 24, 2016, Steffan Tomlinson (Chief Financial Officer) sold 2,655 shares at $143.99 per share price. On May 24, 2016, Rene Bonvanie (Chief Marketing Officer) sold 2,507 shares at $143.99 per share price, according to the Form-4 filing with the securities and exchange commission.

Palo Alto Networks Inc. is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall its Advanced Endpoint Protection and its Threat Intelligence Cloud. The Company’s 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. Its Advanced Endpoint Protection prevents cyber-attacks that aim to exploit software vulnerabilities on a range of fixed and virtual endpoints and servers. The Company’s Threat Intelligence Cloud provides central intelligence capabilities security for software as a service (SaaS) applications and automated delivery of preventative measures against cyber-attacks. The Company’s PAN-OS operating system contains App-ID User-ID site-to-site virtual private network (VPN) remote access secure sockets layer (SSL) VPN and Quality-of-Service (QoS).

Palo Alto Networks Inc

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