Palo Alto Networks (NASDAQ:PANW) PT Raised to $395.00

Palo Alto Networks (NASDAQ:PANW) had its price objective lifted by analysts at Citigroup from $385.00 to $395.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the network technology company’s stock. Citigroup’s price target would suggest a potential upside of 9.80% from the stock’s current price.

A number of other equities analysts also recently commented on PANW. TD Cowen upped their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday. Macquarie raised their target price on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Stifel Nicolaus boosted their price target on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday. DA Davidson raised their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $363.49.

Palo Alto Networks Stock Down 2.2 %

NASDAQ:PANW opened at $359.75 on Tuesday. The firm has a market capitalization of $116.49 billion, a P/E ratio of 52.29, a P/E/G ratio of 4.48 and a beta of 1.14. Palo Alto Networks has a 52 week low of $224.64 and a 52 week high of $380.84. The company has a fifty day moving average of $328.90 and a 200 day moving average of $311.18.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. Palo Alto Networks’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, analysts anticipate that Palo Alto Networks will post 2.94 EPS for the current year.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the sale, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $293.31, for a total value of $10,559,160.00. Following the sale, the executive vice president now directly owns 1,259,567 shares of the company’s stock, valued at $369,443,596.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the sale, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The disclosure for this sale can be found here. Insiders have sold 366,372 shares of company stock worth $118,440,693 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Palo Alto Networks

Several hedge funds have recently modified their holdings of PANW. Pathway Financial Advisers LLC purchased a new position in shares of Palo Alto Networks in the 1st quarter worth $25,000. Frank Rimerman Advisors LLC bought a new position in shares of Palo Alto Networks in the 4th quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. grew its position in Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. Ulland Investment Advisors LLC purchased a new stake in Palo Alto Networks during the first quarter valued at approximately $30,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at approximately $31,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.