Palo Alto Networks (NASDAQ:PANW – Get Rating) had its price objective boosted by equity researchers at Loop Capital from $225.00 to $240.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Loop Capital’s price target indicates a potential upside of 15.40% from the stock’s previous close.
Several other equity analysts have also weighed in on PANW. Roth Capital reaffirmed a “buy” rating and set a $230.00 price objective (up previously from $220.00) on shares of Palo Alto Networks in a research report on Tuesday, February 21st. The Goldman Sachs Group raised their price objective on shares of Palo Alto Networks from $205.00 to $213.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Roth Mkm raised their price objective on shares of Palo Alto Networks from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Citigroup raised their price objective on shares of Palo Alto Networks from $195.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Finally, Scotiabank raised their price objective on shares of Palo Alto Networks from $212.00 to $222.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and thirty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $232.19.
Palo Alto Networks Price Performance
Shares of PANW opened at $207.98 on Wednesday. Palo Alto Networks has a one year low of $132.22 and a one year high of $208.87. The company has a 50-day moving average of $192.20 and a two-hundred day moving average of $178.00. The stock has a market cap of $62.94 billion, a price-to-earnings ratio of 330.13, a PEG ratio of 5.03 and a beta of 1.17.
Palo Alto Networks (NASDAQ:PANW – Get Rating) last posted its quarterly earnings results on Tuesday, February 21st. The network technology company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.22. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. Palo Alto Networks had a net margin of 3.32% and a return on equity of 69.46%. Analysts anticipate that Palo Alto Networks will post 1.2 earnings per share for the current year.
Insiders Place Their Bets
In other Palo Alto Networks news, CAO Josh D. Paul sold 275 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $186.60, for a total transaction of $51,315.00. Following the completion of the sale, the chief accounting officer now directly owns 30,944 shares of the company’s stock, valued at approximately $5,774,150.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via the SEC website. In other news, CEO Nikesh Arora sold 20,849 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $192.06, for a total transaction of $4,004,258.94. Following the completion of the transaction, the chief executive officer now directly owns 1,237,419 shares in the company, valued at approximately $237,658,693.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Josh D. Paul sold 275 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $186.60, for a total value of $51,315.00. Following the completion of the transaction, the chief accounting officer now owns 30,944 shares of the company’s stock, valued at $5,774,150.40. The disclosure for this sale can be found here. In the last three months, insiders sold 267,330 shares of company stock valued at $50,478,046. 3.90% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Palo Alto Networks
Several institutional investors and hedge funds have recently modified their holdings of PANW. JNBA Financial Advisors lifted its stake in Palo Alto Networks by 200.0% in the 3rd quarter. JNBA Financial Advisors now owns 150 shares of the network technology company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Ten Capital Wealth Advisors LLC raised its stake in shares of Palo Alto Networks by 200.0% during the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 150 shares of the network technology company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. American National Bank raised its stake in shares of Palo Alto Networks by 600.0% during the 1st quarter. American National Bank now owns 126 shares of the network technology company’s stock worth $25,000 after purchasing an additional 108 shares in the last quarter. Dark Forest Capital Management LP raised its stake in shares of Palo Alto Networks by 2,950.0% during the 4th quarter. Dark Forest Capital Management LP now owns 183 shares of the network technology company’s stock worth $26,000 after purchasing an additional 177 shares in the last quarter. Finally, Gray Fox Wealth Advisors LLC bought a new stake in shares of Palo Alto Networks during the 4th quarter worth approximately $26,000. 81.82% of the stock is currently owned by institutional investors and hedge funds.
About Palo Alto Networks
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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: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.
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