Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $190.00 at UBS Group

Palo Alto Networks (NASDAQ:PANWGet Rating) had its price objective boosted by UBS Group to $190.00 in a research note published on Monday, Stock Target Advisor reports.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus upped their price target on shares of Palo Alto Networks from $200.00 to $215.00 in a research report on Tuesday, August 23rd. BMO Capital Markets increased their price objective on shares of Palo Alto Networks from $218.00 to $225.00 in a research report on Friday. Royal Bank of Canada increased their price objective on shares of Palo Alto Networks from $226.67 to $233.33 in a research report on Tuesday, August 23rd. Oppenheimer increased their price objective on shares of Palo Alto Networks from $200.00 to $220.00 in a research report on Friday. Finally, Sumitomo Mitsui Financial Group assumed coverage on shares of Palo Alto Networks in a research report on Friday, October 7th. They set an outperform rating and a $230.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat, Palo Alto Networks has an average rating of Moderate Buy and an average target price of $231.16.

Palo Alto Networks Price Performance

PANW stock opened at $170.62 on Monday. Palo Alto Networks has a 1 year low of $140.07 and a 1 year high of $213.63. The company has a 50 day simple moving average of $161.77 and a 200 day simple moving average of $209.13. The stock has a market cap of $51.25 billion, a price-to-earnings ratio of -345.85, a P/E/G ratio of 7.77 and a beta of 1.12.

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

Insider Activity

In other news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $168.45, for a total value of $6,064,200.00. Following the completion of the transaction, the executive vice president now directly owns 1,943,436 shares in the company, valued at $327,371,794.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Palo Alto Networks news, Director Aparna Bawa sold 714 shares of Palo Alto Networks stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $170.98, for a total transaction of $122,079.72. Following the completion of the sale, the director now directly owns 4,272 shares in the company, valued at $730,426.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $168.45, for a total transaction of $6,064,200.00. Following the sale, the executive vice president now owns 1,943,436 shares of the company’s stock, valued at $327,371,794.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 190,214 shares of company stock worth $37,586,106. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palo Alto Networks

Hedge funds have recently made changes to their positions in the business. Ronald Blue Trust Inc. bought a new stake in shares of Palo Alto Networks in the 2nd quarter worth approximately $28,000. Avondale Wealth Management bought a new stake in shares of Palo Alto Networks in the 2nd quarter worth approximately $25,000. Adirondack Trust Co. increased its stake in shares of Palo Alto Networks by 246.7% in the second quarter. Adirondack Trust Co. now owns 52 shares of the network technology company’s stock worth $26,000 after buying an additional 37 shares during the period. Quent Capital LLC purchased a new position in shares of Palo Alto Networks in the second quarter worth $27,000. Finally, Worth Asset Management LLC purchased a new position in shares of Palo Alto Networks in the first quarter worth $26,000. 86.17% of the stock is currently owned by institutional investors.

Palo Alto Networks Company Profile

(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.

Further Reading

Analyst Recommendations for Palo Alto Networks (NASDAQ:PANW)

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