Palo Alto Networks (NASDAQ:PANW) PT Raised to $225.00

Palo Alto Networks (NASDAQ:PANWGet Rating) had its target price hoisted by investment analysts at BMO Capital Markets from $218.00 to $225.00 in a research report issued on Friday, The Fly reports. BMO Capital Markets’ price objective indicates a potential upside of 34.34% from the company’s current price.

Other analysts have also recently issued reports about the company. Credit Suisse Group decreased their target price on Palo Alto Networks from $228.33 to $225.00 and set an “outperform” rating for the company in a research report on Friday. Guggenheim upped their price objective on Palo Alto Networks from $208.33 to $213.33 and gave the company a “buy” rating in a research note on Tuesday, August 23rd. Wells Fargo & Company upped their price objective on Palo Alto Networks from $233.33 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, August 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $220.00 price objective on shares of Palo Alto Networks in a research note on Thursday, September 15th. Finally, Barclays upped their price objective on Palo Alto Networks from $200.00 to $215.00 in a research note on Friday. Five analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $231.34.

Palo Alto Networks Stock Up 7.0 %

Shares of NASDAQ PANW opened at $167.48 on Friday. The stock has a market cap of $50.31 billion, a PE ratio of -339.48, a price-to-earnings-growth ratio of 7.27 and a beta of 1.12. Palo Alto Networks has a 52-week low of $140.07 and a 52-week high of $213.63. The business has a 50-day moving average price of $161.85 and a 200 day moving average price of $211.53.

Palo Alto Networks (NASDAQ:PANWGet Rating) last announced its earnings results on Monday, August 22nd. The network technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Palo Alto Networks had a negative return on equity of 6.64% and a negative net margin of 2.46%. The business’s revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. Sell-side analysts anticipate that Palo Alto Networks will post 0.68 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CFO Dipak Golechha sold 500 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $559.58, for a total transaction of $279,790.00. Following the sale, the chief financial officer now owns 29,176 shares in the company, valued at approximately $16,326,306.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Dipak Golechha sold 500 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $559.58, for a total transaction of $279,790.00. Following the sale, the chief financial officer now owns 29,176 shares in the company, valued at $16,326,306.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aparna Bawa sold 237 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $567.09, for a total value of $134,400.33. Following the sale, the director now owns 1,662 shares in the company, valued at approximately $942,503.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,000 shares of company stock worth $37,743,816. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Palo Alto Networks

Hedge funds have recently made changes to their positions in the business. SouthState Corp boosted its holdings in shares of Palo Alto Networks by 347.7% during the first quarter. SouthState Corp now owns 591 shares of the network technology company’s stock worth $368,000 after purchasing an additional 459 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in Palo Alto Networks by 16.0% in the first quarter. Clearstead Advisors LLC now owns 2,086 shares of the network technology company’s stock valued at $1,299,000 after acquiring an additional 288 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Palo Alto Networks by 11.2% in the first quarter. Quadrant Capital Group LLC now owns 588 shares of the network technology company’s stock valued at $366,000 after acquiring an additional 59 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Palo Alto Networks by 6.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 949 shares of the network technology company’s stock valued at $591,000 after acquiring an additional 59 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Palo Alto Networks in the first quarter valued at $920,000. Institutional investors and hedge funds own 86.17% of the company’s stock.

About Palo Alto Networks

(Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on a customer's network, as well as their instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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