Palo Alto Networks (NYSE:PANW) Price Target Raised to $275.00

Palo Alto Networks (NYSE:PANW) had its target price boosted by equities researchers at Wells Fargo & Co from $250.00 to $275.00 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has an “overweight” rating on the network technology company’s stock. Wells Fargo & Co‘s price target suggests a potential upside of 15.58% from the stock’s previous close.

A number of other equities analysts have also weighed in on PANW. Northland Securities raised shares of Palo Alto Networks from a “market perform” rating to an “outperform” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lowered shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $284.00 to $236.00 in a research report on Tuesday, February 25th. Robert W. Baird reissued a “buy” rating on shares of Palo Alto Networks in a research report on Tuesday, February 25th. Dougherty & Co raised Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Tuesday, May 19th. Finally, Raymond James downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 25th. Eleven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $255.25.

NYSE PANW opened at $237.93 on Wednesday. Palo Alto Networks has a one year low of $125.47 and a one year high of $251.10. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a market cap of $23.72 billion, a P/E ratio of -100.82 and a beta of 1.14. The stock’s 50-day moving average is $195.88 and its 200-day moving average is $214.24.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, May 21st. The network technology company reported $1.17 EPS for the quarter, topping the consensus estimate of ($0.37) by $1.54. The firm had revenue of $869.40 million for the quarter, compared to the consensus estimate of $831.52 million. Palo Alto Networks had a negative net margin of 7.01% and a negative return on equity of 5.65%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the company posted $1.31 EPS. Equities analysts anticipate that Palo Alto Networks will post -0.77 EPS for the current year.

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

Several hedge funds and other institutional investors have recently modified their holdings of PANW. Howard Wealth Management LLC bought a new position in shares of Palo Alto Networks in the 4th quarter worth about $25,000. Clean Yield Group acquired a new stake in Palo Alto Networks during the first quarter worth approximately $30,000. Keebeck Wealth Management LLC acquired a new stake in Palo Alto Networks during the fourth quarter worth approximately $37,000. Farmers & Merchants Investments Inc. increased its holdings in Palo Alto Networks by 2,150.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 225 shares of the network technology company’s stock worth $37,000 after purchasing an additional 215 shares in the last quarter. Finally, Advisory Alpha LLC boosted its holdings in shares of Palo Alto Networks by 1,153.8% during the 4th quarter. Advisory Alpha LLC now owns 163 shares of the network technology company’s stock worth $39,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 77.68% 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.

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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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