Palo Alto Networks (NYSE:PANW) PT Raised to $225.00 at Royal Bank of Canada

Palo Alto Networks (NYSE:PANW) had its price objective upped by Royal Bank of Canada from $175.00 to $225.00 in a research note issued to investors on Tuesday morning, The Fly reports. The brokerage currently has a sector perform rating on the network technology company’s stock.

PANW has been the subject of several other research reports. Wells Fargo & Co reduced their price target on shares of Palo Alto Networks from $275.00 to $250.00 and set an overweight rating for the company in a research report on Tuesday, February 25th. Deutsche Bank reduced their price target on shares of Palo Alto Networks from $210.00 to $180.00 and set a hold rating for the company in a research report on Wednesday, April 1st. SunTrust Banks upped their price target on shares of Palo Alto Networks from $220.00 to $250.00 and gave the company a buy rating in a research report on Monday, May 18th. OTR Global downgraded shares of Palo Alto Networks to a positive rating in a research report on Friday, May 8th. Finally, Dougherty & Co downgraded shares of Palo Alto Networks from a buy rating to a neutral rating in a research report on Tuesday, February 25th. Twelve research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $254.48.

PANW stock opened at $237.93 on Tuesday. Palo Alto Networks has a 12 month low of $125.47 and a 12 month high of $251.10. The firm has a market cap of $22.88 billion, a PE ratio of -100.82 and a beta of 1.14. The firm has a 50 day simple moving average of $195.88 and a 200 day simple moving average of $214.24. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.78 and a quick ratio of 1.78.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Thursday, May 21st. The network technology company reported $1.17 EPS for the quarter, beating the consensus estimate of ($0.37) by $1.54. Palo Alto Networks had a negative net margin of 7.01% and a negative return on equity of 5.65%. The business had revenue of $869.40 million during the quarter, compared to analyst estimates of $831.52 million. During the same period in the prior year, the business earned $1.31 earnings per share. The business’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, sell-side analysts expect that Palo Alto Networks will post -0.77 earnings per share for the current year.

In other news, Director John Donovan bought 8,127 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $184.62 per share, for a total transaction of $1,500,406.74. Following the purchase, the director now owns 11,222 shares of the company’s stock, valued at approximately $2,071,805.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $165.75, for a total transaction of $1,989,000.00. Following the completion of the transaction, the executive vice president now owns 838,699 shares in the company, valued at $139,014,359.25. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Howard Wealth Management LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at $25,000. Keebeck Wealth Management LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at $37,000. Advisory Alpha LLC grew its stake in Palo Alto Networks by 1,153.8% in the 4th quarter. Advisory Alpha LLC now owns 163 shares of the network technology company’s stock valued at $39,000 after buying an additional 150 shares during the last quarter. Clean Yield Group acquired a new position in Palo Alto Networks in the 1st quarter valued at $30,000. Finally, Wealthcare Advisory Partners LLC grew its stake in Palo Alto Networks by 74.8% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 187 shares of the network technology company’s stock valued at $43,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 77.99% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

Read More: Retained Earnings

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