Palo Alto Networks (NYSE:PANW) Price Target Increased to $560.00 by Analysts at Stifel Nicolaus

Palo Alto Networks (NYSE:PANW) had its price target upped by Stifel Nicolaus from $490.00 to $560.00 in a research note issued to investors on Tuesday, The Fly reports. Stifel Nicolaus currently has a buy rating on the network technology company’s stock.

A number of other research firms have also issued reports on PANW. Cowen raised their price target on shares of Palo Alto Networks from $425.00 to $475.00 and gave the stock an outperform rating in a research report on Tuesday, August 24th. JPMorgan Chase & Co. raised their price target on shares of Palo Alto Networks from $317.00 to $350.00 and gave the stock an underweight rating in a research report on Friday, May 21st. Colliers Securities reissued a buy rating and set a $490.00 price target 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. Finally, Summit Insights reaffirmed a buy rating and set a $500.00 target price (up from $425.00) on shares of Palo Alto Networks in a report on Tuesday, August 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $504.72.

PANW stock opened at $484.83 on Tuesday. The firm has a 50 day moving average of $411.18 and a 200 day moving average of $371.94. The stock has a market capitalization of $47.23 billion, a PE 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. 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. On average, equities research analysts expect that Palo Alto Networks will post -0.47 earnings per share for the current year.

In other news, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $369.01, for a total transaction of $4,428,120.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction, the executive vice president now directly owns 273,934 shares in the company, valued at approximately $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 institutional investors and hedge funds have recently modified their holdings of the stock. Connable Office Inc. raised its holdings in Palo Alto Networks by 0.5% in the 2nd quarter. Connable Office Inc. now owns 5,284 shares of the network technology company’s stock valued at $1,961,000 after buying an additional 26 shares during the period. CIBC Asset Management Inc raised its holdings in Palo Alto Networks by 0.6% in the 2nd quarter. CIBC Asset Management Inc now owns 4,824 shares of the network technology company’s stock valued at $1,790,000 after buying an additional 27 shares during the period. Geneos Wealth Management Inc. raised its holdings in Palo Alto Networks by 1.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,346 shares of the network technology company’s stock valued at $829,000 after buying an additional 29 shares during the period. CAPROCK Group Inc. raised its holdings in Palo Alto Networks by 2.7% in the 2nd quarter. CAPROCK Group Inc. now owns 1,086 shares of the network technology company’s stock valued at $403,000 after buying an additional 29 shares during the period. Finally, DAVENPORT & Co LLC raised its holdings in Palo Alto Networks by 0.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 4,955 shares of the network technology company’s stock valued at $1,839,000 after buying an additional 30 shares during the period. Hedge funds and other 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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