Brokerages Set Palo Alto Networks Inc (NYSE:PANW) Target Price at $262.65

Palo Alto Networks Inc (NYSE:PANW) has received an average rating of “Buy” from the thirty-six research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, twenty-five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $262.65.

A number of equities analysts have issued reports on PANW shares. Barclays raised Encompass Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $68.00 to $70.00 in a research note on Thursday, May 30th. Cowen decreased their price target on Nordstrom from $44.00 to $36.00 and set a “market perform” rating for the company in a research note on Thursday, May 23rd. Wells Fargo & Co reaffirmed a “hold” rating on shares of Canada Goose in a research note on Thursday, May 30th. ValuEngine raised Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, June 22nd. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $241.00 price target on shares of FedEx in a research note on Thursday, May 30th.

PANW traded down $0.72 during trading hours on Friday, hitting $216.94. The company’s stock had a trading volume of 799,037 shares, compared to its average volume of 1,104,810. Palo Alto Networks has a fifty-two week low of $160.08 and a fifty-two week high of $260.63. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of -394.44, a PEG ratio of 10.68 and a beta of 0.91. The business’s 50-day moving average is $205.69.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Wednesday, May 29th. The network technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). The firm had revenue of $726.60 million for the quarter, compared to the consensus estimate of $704.89 million. Palo Alto Networks had a negative net margin of 2.30% and a positive return on equity of 5.42%. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. Equities analysts expect that Palo Alto Networks will post 0.87 earnings per share for the current year.

In other news, Director Mark D. Mclaughlin sold 950 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $250.05, for a total value of $237,547.50. Following the completion of the sale, the director now owns 206,171 shares of the company’s stock, valued at $51,553,058.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark D. Mclaughlin sold 42,850 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $246.78, for a total value of $10,574,523.00. Following the completion of the sale, the director now directly owns 208,071 shares of the company’s stock, valued at approximately $51,347,761.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,172 shares of company stock valued at $44,058,169. Corporate insiders own 3.10% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Alpha Omega Wealth Management LLC acquired a new stake in shares of Palo Alto Networks in the first quarter worth $26,000. Manchester Capital Management LLC acquired a new stake in shares of Palo Alto Networks in the first quarter worth $26,000. Financial Advocates Investment Management boosted its position in shares of Palo Alto Networks by 65.2% in the fourth quarter. Financial Advocates Investment Management now owns 114 shares of the network technology company’s stock worth $43,000 after buying an additional 45 shares during the period. C J Advisory Inc acquired a new stake in shares of Palo Alto Networks in the first quarter worth $30,000. Finally, Cable Hill Partners LLC boosted its position in shares of Palo Alto Networks by 226.1% in the first quarter. Cable Hill Partners LLC now owns 150 shares of the network technology company’s stock worth $37,000 after buying an additional 104 shares during the period. 79.04% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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