Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $245.00

Palo Alto Networks (NASDAQ:PANW – Get Rating) had its price objective hoisted by Barclays from $235.00 to $245.00 in a report published on Wednesday morning, The Fly reports. They currently have an overweight rating on the network technology company’s stock.

A number of other analysts also recently commented on the stock. BMO Capital Markets boosted their target price on shares of Palo Alto Networks from $220.00 to $228.00 and gave the stock an outperform rating in a report on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palo Alto Networks from $165.00 to $210.00 and gave the company a buy rating in a research note on Wednesday, February 22nd. Credit Suisse Group upped their price objective on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an outperform rating in a research note on Thursday, February 23rd. Rosenblatt Securities started coverage on shares of Palo Alto Networks in a research note on Monday, May 1st. They issued a buy rating and a $250.00 price objective on the stock. Finally, Mizuho dropped their price target on shares of Palo Alto Networks from $235.00 to $220.00 in a research note on Thursday, May 18th. Five equities research analysts have rated the stock with a hold rating and thirty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $232.19.

Palo Alto Networks Stock Up 7.7 %

Shares of NASDAQ:PANW opened at $204.31 on Wednesday. The company has a market cap of $61.83 billion, a PE ratio of 2,786.17, a P/E/G ratio of 5.09 and a beta of 1.17. The company’s 50-day moving average price is $192.60 and its 200 day moving average price is $176.45. Palo Alto Networks has a fifty-two week low of $132.22 and a fifty-two week high of $207.38.

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

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 612,745 shares of the company’s stock, valued at approximately $113,860,275.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 612,745 shares of the company’s stock, valued at approximately $113,860,275.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 1,550 shares of the firm’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $185.00, for a total transaction of $286,750.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,125 shares in the company, valued at approximately $5,758,125. 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 corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Worth Asset Management LLC bought a new position in Palo Alto Networks during the 1st quarter worth approximately $26,000. Covestor Ltd boosted its stake in Palo Alto Networks by 61.8% during the 1st quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock worth $35,000 after acquiring an additional 21 shares during the last quarter. Salem Investment Counselors Inc. lifted its stake in Palo Alto Networks by 1,071.4% in the second 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 in the last quarter. High Net Worth Advisory Group LLC bought a new position in Palo Alto Networks in the first quarter valued at approximately $71,000. Finally, American National Bank lifted its stake in Palo Alto Networks by 600.0% in 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 in the last quarter. Institutional investors own 81.82% of the company’s stock.

Palo Alto Networks Company Profile

(Get Rating)

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.