Palo Alto Networks (PANW) Price Target Raised to $190.00

Palo Alto Networks (NYSE:PANW) had its target price lifted by KeyCorp from $170.00 to $190.00 in a research report issued on Monday. The firm currently has an “overweight” rating on the network technology company’s stock. KeyCorp’s price objective points to a potential upside of 23.48% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Sanford C. Bernstein boosted their price target on shares of Palo Alto Networks from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, November 21st. Evercore ISI upgraded shares of Palo Alto Networks from an “in-line” rating to an “outperform” rating and set a $180.00 price target for the company in a report on Thursday, January 18th. Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $164.00 price target for the company in a report on Tuesday, October 10th. Northland Securities set a $175.00 price target on shares of Palo Alto Networks and gave the stock a “buy” rating in a report on Wednesday, October 18th. Finally, Oppenheimer reiterated a “buy” rating and set a $180.00 price target (up previously from $173.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirty-four have given a buy rating to the stock. Palo Alto Networks has an average rating of “Buy” and a consensus price target of $167.39.

Shares of Palo Alto Networks (NYSE PANW) traded up $2.55 during mid-day trading on Monday, hitting $153.87. 1,106,380 shares of the company were exchanged, compared to its average volume of 1,110,000. The firm has a market capitalization of $14,140.00, a PE ratio of -62.55 and a beta of 1.04. Palo Alto Networks has a 52-week low of $107.31 and a 52-week high of $160.83.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The company had revenue of $505.50 million during the quarter, compared to analysts’ expectations of $489.36 million. During the same quarter in the previous year, the business posted $0.55 EPS. The firm’s revenue was up 27.0% on a year-over-year basis. sell-side analysts expect that Palo Alto Networks will post -0.37 earnings per share for the current year.

In related news, President Mark Anderson sold 15,614 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $144.16, for a total value of $2,250,914.24. Following the completion of the sale, the president now owns 186,413 shares in the company, valued at approximately $26,873,298.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stanley J. Meresman sold 2,000 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $159.00, for a total transaction of $318,000.00. Following the completion of the sale, the director now owns 13,834 shares of the company’s stock, valued at approximately $2,199,606. The disclosure for this sale can be found here. In the last quarter, insiders sold 396,644 shares of company stock valued at $59,381,588. 4.80% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Cerebellum GP LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at $127,000. Penserra Capital Management LLC acquired a new position in Palo Alto Networks in the 3rd quarter valued at $162,000. Benjamin F. Edwards & Company Inc. increased its stake in Palo Alto Networks by 495.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock valued at $178,000 after buying an additional 1,025 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in Palo Alto Networks by 30.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock valued at $188,000 after buying an additional 322 shares during the period. Finally, SeaCrest Wealth Management LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at $192,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

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About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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