Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $230.00 at Mizuho

Palo Alto Networks (NASDAQ:PANW – Get Rating) had its price target upped by Mizuho from $220.00 to $230.00 in a research note released on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the network technology company’s stock.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. lifted their target price on Palo Alto Networks from $195.00 to $225.00 and gave the stock an overweight rating in a report on Wednesday, February 22nd. Stifel Nicolaus lifted their target price on Palo Alto Networks from $215.00 to $225.00 and gave the stock a buy rating in a report on Wednesday, February 22nd. Loop Capital lifted their target price on Palo Alto Networks from $200.00 to $225.00 and gave the stock a buy rating in a report on Wednesday, February 22nd. Jefferies Financial Group lifted their target price on Palo Alto Networks from $215.00 to $230.00 in a report on Thursday, May 18th. Finally, Oppenheimer lifted their target price on Palo Alto Networks from $220.00 to $250.00 and gave the stock an outperform rating in a report on Monday, April 17th. Five investment analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $232.19.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $204.31 on Wednesday. Palo Alto Networks has a 1 year low of $132.22 and a 1 year high of $207.38. The stock has a market cap of $61.83 billion, a price-to-earnings ratio of 2,786.17, a PEG ratio of 5.09 and a beta of 1.17. The business has a fifty day moving average of $192.60 and a 200-day moving average of $176.45.

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

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $185.00, for a total value of $286,750.00. Following the transaction, the chief accounting officer now directly owns 31,125 shares of the company’s stock, valued at approximately $5,758,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Josh D. Paul sold 1,550 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $185.00, for a total value of $286,750.00. Following the transaction, the chief accounting officer now directly owns 31,125 shares of the company’s stock, valued at approximately $5,758,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $185.82, for a total value of $8,361,900.00. Following the completion of the transaction, the executive vice president now directly owns 612,745 shares in the company, valued at $113,860,275.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 268,880 shares of company stock valued at $50,764,796. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in Palo Alto Networks by 186.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 33,658 shares of the network technology company’s stock worth $5,520,000 after buying an additional 21,890 shares during the period. Ropes Wealth Advisors LLC increased its position in Palo Alto Networks by 9.8% in the 4th quarter. Ropes Wealth Advisors LLC now owns 1,674 shares of the network technology company’s stock worth $234,000 after buying an additional 150 shares during the period. Aviva PLC increased its position in Palo Alto Networks by 285.4% in the 3rd quarter. Aviva PLC now owns 52,833 shares of the network technology company’s stock worth $8,654,000 after buying an additional 39,124 shares during the period. Greenleaf Trust increased its position in Palo Alto Networks by 204.4% in the 3rd quarter. Greenleaf Trust now owns 2,094 shares of the network technology company’s stock worth $343,000 after buying an additional 1,406 shares during the period. Finally, Kestra Private Wealth Services LLC increased its position in Palo Alto Networks by 2.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,506 shares of the network technology company’s stock worth $1,327,000 after buying an additional 255 shares during the period. 81.82% of the stock is owned by institutional investors.

About Palo Alto Networks

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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.