Palo Alto Networks (NASDAQ:PANW) Price Target Increased to $235.00 by Analysts at BMO Capital Markets

Palo Alto Networks (NASDAQ:PANW – Get Rating) had its price target boosted by BMO Capital Markets from $228.00 to $235.00 in a research report sent to investors on Wednesday morning, The Fly reports. They currently have an outperform rating on the network technology company’s stock.

A number of other brokerages have also recently weighed in on PANW. Royal Bank of Canada lifted their price objective on Palo Alto Networks from $216.00 to $232.00 and gave the company an outperform rating in a research note on Wednesday. Roth Mkm boosted their target price on Palo Alto Networks from $220.00 to $230.00 and gave the stock a buy rating in a research note on Wednesday, February 22nd. Robert W. Baird boosted their target price on Palo Alto Networks from $220.00 to $230.00 and gave the stock an outperform rating in a research note on Wednesday, February 22nd. Roth Capital reissued a buy rating and set a $230.00 target price (up from $220.00) on shares of Palo Alto Networks in a research note on Tuesday, February 21st. Finally, Loop Capital boosted their target price on Palo Alto Networks from $200.00 to $225.00 and gave the stock a buy rating in a research note on Wednesday, February 22nd. Five research analysts have rated the stock with a hold rating and thirty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $232.19.

Palo Alto Networks Trading Up 7.7 %

Shares of NASDAQ PANW opened at $204.31 on Wednesday. Palo Alto Networks has a twelve month low of $132.22 and a twelve month high of $207.38. The stock has a fifty day simple moving average of $192.60 and a 200-day simple moving average of $176.45. The stock has a market capitalization of $61.83 billion, a PE ratio of 2,786.17, a PEG ratio of 5.09 and a beta of 1.17.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The network technology company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.22. Palo Alto Networks had a return on equity of 36.62% and a net margin of 0.56%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. On average, equities analysts predict that Palo Alto Networks will post 1.2 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $185.82, for a total transaction of $8,361,900.00. Following the transaction, the executive vice president now owns 612,745 shares in the company, valued at approximately $113,860,275.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $182.57, for a total value of $6,572,520.00. Following the sale, the executive vice president now owns 1,702,898 shares in the company, valued at approximately $310,898,087.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $185.82, for a total value of $8,361,900.00. Following the completion of the sale, the executive vice president now owns 612,745 shares in the company, valued at approximately $113,860,275.90. The disclosure for this sale can be found here. Insiders sold a total of 268,880 shares of company stock valued at $50,764,796 in the last ninety days. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Palo Alto Networks

Institutional investors and hedge funds have recently modified their holdings of the company. Worth Asset Management LLC acquired a new stake in shares of Palo Alto Networks in the 1st quarter worth approximately $26,000. Covestor Ltd grew its holdings in Palo Alto Networks by 61.8% during the 1st quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after buying an additional 21 shares during the last quarter. Salem Investment Counselors Inc. grew its holdings in Palo Alto Networks by 1,071.4% during the 2nd quarter. Salem Investment Counselors Inc. now owns 82 shares of the network technology company’s stock valued at $41,000 after buying an additional 75 shares during the last quarter. High Net Worth Advisory Group LLC acquired a new stake in Palo Alto Networks during the 1st quarter valued at $71,000. Finally, American National Bank grew its holdings in Palo Alto Networks by 600.0% during the 1st quarter. American National Bank now owns 126 shares of the network technology company’s stock valued at $25,000 after buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

Palo Alto Networks Company Profile

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.