From MarketBeat:



Cornerstone Wealth Group LLC has purchased a new stake in Palo Alto Networks, Inc. The institutional investor bought 9,858 shares of the network technology company’s stock which is valued at approximately $2,311,000. Additionally, several other hedge funds also recently bought and sold shares of the company. It is reported that 85.69% of the stock is currently owned by institutional investors. Wall Street analysts have given a “Moderate Buy” rating to the company’s stock and the average price target is $279.67 per share. The stock is currently trading at $299.32.

Palo Alto Networks, Inc. recently reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48. The company had a revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.84 billion. This resulted in analysts forecasting 2.73 EPS for the current fiscal year. Insider transactions in the company have also been reported with several top executives selling a significant amount of shares. Palo Alto Networks, Inc. provides cybersecurity solutions worldwide and offers firewall appliances, software, and subscription services.

In addition to this, MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients. Palo Alto Networks is currently rated as a “Moderate Buy” by analysts, but other stocks are considered to be a better buy.



Read more: Cornerstone Wealth Group LLC Purchases Shares of 9,858 Palo Alto Networks, Inc. (NASDAQ:PANW)