The stock of Palo Alto Networks Inc (NYSE:PANW) gapped down by $14.07 today and has $128.16 target or 8.00% below today’s $139.30 share price. The 6 months technical chart setup indicates high risk for the $12.72 billion company. The gap down was reported on Nov, 22 by Barchart.com. If the $128.16 price target is reached, the company will be worth $1.02B less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 11.77 million shares traded hands or 765.44% up from the average. Palo Alto Networks Inc (NYSE:PANW) has risen 14.79% since April 20, 2016 and is uptrending. It has outperformed by 10.23% the S&P500.
Palo Alto Networks Inc (NYSE:PANW) Ratings Coverage
Out of 38 analysts covering Palo Alto Networks (NYSE:PANW), 32 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 84% are positive. Palo Alto Networks has been the topic of 83 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of Palo Alto Networks Inc (NYSE:PANW) earned “Outperform” rating by FBR Capital on Friday, February 26. On Wednesday, November 25 the stock rating was maintained by Imperial Capital with “Outperform”. The company was maintained on Thursday, September 10 by Gabelli. Stifel Nicolaus maintained Palo Alto Networks Inc (NYSE:PANW) on Thursday, September 10 with “Buy” rating. The stock of Palo Alto Networks Inc (NYSE:PANW) earned “Outperform” rating by Imperial Capital on Friday, September 11. The rating was downgraded by Raymond James on Wednesday, August 31 to “Outperform”. The company was maintained on Tuesday, November 24 by Barclays Capital. On Monday, September 12 the stock rating was initiated by Rosenblatt with “Buy”. The stock of Palo Alto Networks Inc (NYSE:PANW) earned “Neutral” rating by Citigroup on Wednesday, August 31. As per Friday, May 27, the company rating was maintained by Pacific Crest.
According to Zacks Investment Research, “Palo Alto Networks, Inc. offers a network security platform that allows enterprises, service providers, and government entities to secure their networks. The core of its platform is the Company’s firewall that delivers natively integrated application, user, and content visibility and control through its operating system, hardware, and software architecture. It serves the enterprise network security market, which consists of Firewall, Unified Threat Management, Web Gateway, Intrusion Detection and Prevention, and Virtual Private Network technologies. Palo Alto Networks, Inc. is headquartered in Santa Clara, California.”
Insitutional Activity: The institutional sentiment increased to 1.24 in Q2 2016. Its up 0.04, from 1.2 in 2016Q1. The ratio is positive, as 87 funds sold all Palo Alto Networks Inc shares owned while 132 reduced positions. 55 funds bought stakes while 208 increased positions. They now own 71.49 million shares or 4.82% less from 75.11 million shares in 2016Q1.
Sunbelt Secs Incorporated owns 34 shares or 0% of their US portfolio. State Street has 1.54 million shares for 0.02% of their US portfolio. Advisory Limited Liability has 0.11% invested in the company for 3,896 shares. The Massachusetts-based S&Co has invested 0.12% in Palo Alto Networks Inc (NYSE:PANW). Goldman Sachs accumulated 563,669 shares or 0.02% of the stock. Meiji Yasuda Life has 8,609 shares for 0.17% of their US portfolio. Accuvest Advsr, a California-based fund reported 2,540 shares. Mogy Joel R Investment Counsel holds 24,215 shares or 0.55% of its portfolio. Peak6 Invests L P last reported 47,145 shares in the company. Commonwealth Equity Services accumulated 24,577 shares or 0.03% of the stock. Cupps Mngmt Lc has 9,320 shares for 0.3% of their US portfolio. Kcm Investment Advisors Ltd Liability Com holds 0.09% or 10,040 shares in its portfolio. Choate Investment Advsrs has 2,408 shares for 0% of their US portfolio. Eventide Asset Mgmt Ltd holds 1.69% of its portfolio in Palo Alto Networks Inc (NYSE:PANW) for 225,000 shares. Pnc Service holds 47,619 shares or 0.01% of its portfolio.
Insider Transactions: Since May 23, 2016, the stock had 0 buys, and 28 selling transactions for $66.91 million net activity. $299,813 worth of shares were sold by WARMENHOVEN DANIEL J on Tuesday, November 1. Another trade for 2,655 shares valued at $382,293 was made by Tomlinson Steffan on Monday, May 23. On Monday, August 22 ZUK NIR sold $457,677 worth of the stock or 3,343 shares. MCLAUGHLIN MARK D sold $3.81M worth of Palo Alto Networks Inc (NYSE:PANW) on Friday, September 2. 4,404 shares were sold by BONVANIE RENE, worth $656,086. Anderson Mark had sold 19,210 shares worth $2.94 million. Eschenbach Carl M. also sold $142,216 worth of Palo Alto Networks Inc (NYSE:PANW) shares.
More notable recent Palo Alto Networks Inc (NYSE:PANW) news were published by: Foxbusiness.com which released: “Why Palo Alto Networks, Inc. Stock Plunged Today” on November 22, 2016, also Marketwatch.com with their article: “Palo Alto Networks plummets after disappointing results, outlook” published on November 21, 2016, Fool.com published: “Better Buy: Palo Alto Networks, Inc. vs. Fortinet” on November 12, 2016. More interesting news about Palo Alto Networks Inc (NYSE:PANW) were released by: Nasdaq.com and their article: “Earnings Reaction History: Palo Alto Networks, Inc., 50.0% Follow-Through …” published on November 21, 2016 as well as Benzinga.com‘s news article titled: “Mid-Day Market Update: Burlington Stores Gains On Earnings Beat; Palo Alto …” with publication date: November 22, 2016.
PANW Company Profile
Palo Alto Networks, Inc., incorporated on February 28, 2005, offers a next-generation security platform that empowers enterprises, service providers and government entities to secure their organizations by enabling applications running on their networks and by preventing breaches that stem from targeted cyber attacks. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. The Company’s Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network cyber threats integrated within the firewall through its hardware and software architecture. The Company’s Advanced Endpoint Protection prevents cyber attacks that run malicious code or 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.
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