Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $235.00 at TD Cowen

Palo Alto Networks (NASDAQ:PANW – Get Rating) had its target price increased by TD Cowen from $207.00 to $235.00 in a research report sent to investors on Wednesday morning, Marketbeat reports. They currently have an outperform rating on the network technology company’s stock.

Other analysts have also issued reports about the company. StockNews.com began coverage on Palo Alto Networks in a research note on Thursday, May 18th. They set a hold rating on the stock. Royal Bank of Canada boosted 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. Rosenblatt Securities assumed coverage on Palo Alto Networks in a research note on Monday, May 1st. They issued a buy rating and a $250.00 target price on the stock. Wolfe Research upped their target price on Palo Alto Networks from $170.00 to $210.00 and gave the stock an outperform rating in a research note on Wednesday, February 22nd. Finally, UBS Group upped their target price on Palo Alto Networks from $200.00 to $220.00 and gave the stock a neutral rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and thirty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $232.19.

Palo Alto Networks Price Performance

Shares of PANW opened at $204.31 on Wednesday. The firm has a market cap of $61.83 billion, a PE ratio of 2,786.17, a PEG ratio of 5.09 and a beta of 1.17. The stock’s fifty day moving average price is $192.60 and its two-hundred day moving average price is $176.45. Palo Alto Networks has a 1 year low of $132.22 and a 1 year high of $207.38.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The network technology company reported $0.34 earnings per share (EPS) 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 company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. Sell-side analysts anticipate that Palo Alto Networks will post 1.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Josh D. Paul sold 1,550 shares of the 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 completion of the transaction, the chief accounting officer now owns 31,125 shares of the company’s stock, valued at approximately $5,758,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 45,000 shares of the 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 transaction, the executive vice president now directly owns 612,745 shares of the company’s stock, valued at approximately $113,860,275.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 268,880 shares of company stock worth $50,764,796. 3.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PANW. JNBA Financial Advisors raised its position in shares of Palo Alto Networks by 200.0% in the 3rd quarter. JNBA Financial Advisors now owns 150 shares of the network technology company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Ten Capital Wealth Advisors LLC raised its stake in Palo Alto Networks by 200.0% during the third quarter. Ten Capital Wealth Advisors LLC now owns 150 shares of the network technology company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. American National Bank raised its stake in Palo Alto Networks by 600.0% during the first 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. Dark Forest Capital Management LP raised its stake in Palo Alto Networks by 2,950.0% during the fourth quarter. Dark Forest Capital Management LP now owns 183 shares of the network technology company’s stock valued at $26,000 after buying an additional 177 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC purchased a new position in Palo Alto Networks during the fourth quarter valued at $26,000. Institutional investors 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.