The original version of this story can be accessed at https://www.com-unik.info/2017/03/01/palo-alto-networks-inc-panw-rating-lowered-to-hold-at-wunderlich.html. Palo Alto Networks (PANW) reported that its acquisition of LightCyber, a privately held cybersecurity company that has developed award-winning, highly automated and accurate behavioral analytics technology.
12/02/2016 - Summit Redstone Partners began new coverage on Palo Alto Networks, Inc. giving the company a " rating. The stock tapped a 52-week high of US$165.69 while the mean 12-month price target for the shares is US$172.09. Wells Fargo & Company restated an "outperform" rating and set a $176.00 price target (down previously from $187.00) on shares of Palo Alto Networks in a research note on Monday, November 28th. The stock has relative volume of 2.78.
Among analysts who offered their Analysis on Palo Alto Networks, Inc. Brinker Capital Inc. now owns 2,211 shares of the network technology company's stock worth $271,000 after buying an additional 23 shares during the period. The stock has a 50-day moving average of $139.78 and a 200 day moving average of $142.34. We should also note their 52-Week High and Low: the shares now trade -29.07% away from their high and 2.52% from the low.
Cisco Systems' (CSCO) push into the security market could be one reason for woes at Palo Alto Networks (PANW), whose stock plunged in premarket action Wednesday after the company reported fiscal second-quarter revenue, billings and guidance all below street expectations. For the quarter ending Jan-17, 34 analysts have a mean sales target of 429.72 million whilst for the year ending Jul-17, 32 analysts have a mean target of 1,803.23 million. Palo Alto Networks had a negative net margin of 16.83% and a negative return on equity of 35.75%. Wipro Limited (NYSE:WIT) quarterly performance is 1.14% while its year to date (YTD) performance is 1.35%. Ltd. purchased a new stake in Palo Alto Networks during the second quarter valued at approximately $9,811,000.
CEO Mark McLaughlin attributed the miss to "some execution challenges". The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The shares were sold at an average price of $127.32, for a total value of $3,382,383.12. The disclosure for this sale can be found here. The average numbers of shares are traded in a security per day, during the recent 3-month period.
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The fund owned 20,120 shares of the electric vehicle producer's stock after buying an additional 18,193 shares during the period. Tesla recently announced fourth-quarter and full-year financial results that dampened investor enthusiasm for the company.
Several large investors have recently made changes to their positions in the company.
Elaborating on the outlook for the third quarter, the company said that it expects the non-GAAP earnings to be between 54 cents a share and 56 cents a share in Q3. Company has 79.00% insider ownership. The company's institutional ownership is monitored at 81.5 percent.
LightCyber CEO Gonen Fink said, "Palo Alto Networks has been driving a paradigm shift in the security industry with its natively engineered and highly automated Next-Generation Security Platform created to change the equation in how organizations prevent cyber breaches".
"This technology will complement the existing automated threat-prevention capabilities of our platform to help organisations not only improve but also scale their security protections to prevent cyber breaches".