Palo Alto Networks (NYSE:PANW) Price Target Raised to $475.00

Palo Alto Networks (NYSE:PANW) had its target price lifted by Loop Capital from $410.00 to $475.00 in a research note published on Tuesday, The Fly reports. Loop Capital currently has a hold rating on the network technology company’s stock.

A number of other equities analysts have also issued reports on PANW. Stifel Nicolaus raised their price target on shares of Palo Alto Networks from $455.00 to $490.00 and gave the stock a buy rating in a research report on Tuesday, August 24th. Summit Insights reissued a buy rating and set a $500.00 price target (up from $425.00) on shares of Palo Alto Networks in a research report on Tuesday, August 24th. BTIG Research raised their price target on shares of Palo Alto Networks from $509.00 to $555.00 and gave the stock a buy rating in a research report on Tuesday. Wedbush raised their price objective on shares of Palo Alto Networks from $450.00 to $470.00 and gave the stock an outperform rating in a research note on Tuesday, August 24th. Finally, Northland Securities raised their price objective on shares of Palo Alto Networks from $440.00 to $460.00 and gave the stock an outperform rating in a research note on Tuesday, August 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks has an average rating of Buy and a consensus target price of $504.72.

Shares of Palo Alto Networks stock opened at $484.83 on Tuesday. The firm has a market capitalization of $47.23 billion, a P/E ratio of -93.60 and a beta of 1.40. The company has a quick ratio of 1.38, a current ratio of 0.91 and a debt-to-equity ratio of 2.63. The company has a 50 day moving average price of $411.18 and a 200 day moving average price of $371.94. Palo Alto Networks has a 52 week low of $219.34 and a 52 week high of $495.92.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Sunday, August 22nd. The network technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.16. Palo Alto Networks had a negative net margin of 11.72% and a negative return on equity of 17.08%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm posted $1.48 EPS. Palo Alto Networks’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, research analysts anticipate that Palo Alto Networks will post -0.47 earnings per share for the current fiscal year.

In other news, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $369.01, for a total transaction of $4,428,120.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lee Klarich sold 3,431 shares of the business’s stock in a transaction dated Thursday, July 8th. The shares were sold at an average price of $380.13, for a total transaction of $1,304,226.03. Following the completion of the sale, the executive vice president now owns 273,934 shares in the company, valued at $104,130,531.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,184 shares of company stock worth $20,813,424. 2.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of PANW. Viking Global Investors LP increased its stake in Palo Alto Networks by 32.9% during the first quarter. Viking Global Investors LP now owns 2,508,314 shares of the network technology company’s stock worth $807,828,000 after purchasing an additional 621,184 shares during the period. Atalan Capital Partners LP acquired a new position in shares of Palo Alto Networks during the second quarter worth about $126,157,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Palo Alto Networks by 134.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 586,400 shares of the network technology company’s stock worth $217,584,000 after buying an additional 336,392 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Palo Alto Networks by 102.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 390,924 shares of the network technology company’s stock worth $125,901,000 after buying an additional 198,000 shares in the last quarter. Finally, Harvard Management Co. Inc. grew its position in shares of Palo Alto Networks by 103.9% during the first quarter. Harvard Management Co. Inc. now owns 340,900 shares of the network technology company’s stock worth $109,790,000 after buying an additional 173,698 shares in the last quarter. Institutional investors own 82.39% of the company’s stock.

Palo Alto Networks Company Profile

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: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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