Palo Alto Networks Inc (PANW) was Downgraded by Raymond James to ” Outperform” while Lowering the Price Target of the company shares to $ 165 from a previous price target of $180 . Earlier the firm had a rating of “Strong Buy ” on the company shares. Raymond James advised their investors in a research report released on Aug 31, 2016.
On the company’s financial health, Palo Alto Networks Inc reported $0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 30, 2016. Analyst had a consensus of $0.49. The company had revenue of $400.80 million for the quarter, compared to analysts expectations of $389.90 million. The company’s revenue was up 41.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.
Palo Alto Networks Inc opened for trading at $141.22 and hit $142.44 on the upside on Monday, eventually ending the session at $141.49, with a gain of 0.58% or 0.81 points. The heightened volatility saw the trading volume jump to 11,39,469 shares. Company has a market cap of $12,678 M.
In a different news, on Aug 25, 2016, Mark D Mclaughlin (Chief Executive Officer) sold 70,000 shares at $140.00 per share price. According to the SEC, on Aug 24, 2016, Rene Bonvanie (Chief Marketing Officer) sold 2,507 shares at $136.91 per share price. On Aug 24, 2016, Steffan Tomlinson (Chief Financial Officer) sold 2,655 shares at $136.91 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).