Susquehanna Boosts Palo Alto Networks (NASDAQ:PANW) Price Target to $340.00

Palo Alto Networks (NASDAQ:PANW) had its price objective boosted by Susquehanna from $325.00 to $340.00 in a research report released on Tuesday, Benzinga reports. Susquehanna currently has a positive rating on the network technology company’s stock.

Several other equities research analysts also recently weighed in on the stock. Needham & Company LLC reissued a buy rating and issued a $345.00 target price on shares of Palo Alto Networks in a research note on Tuesday. Rosenblatt Securities lowered Palo Alto Networks from a buy rating to a neutral rating and dropped their target price for the company from $290.00 to $265.00 in a research report on Wednesday, February 21st. Capital One Financial downgraded Palo Alto Networks from an overweight rating to an equal weight rating and set a $302.00 price target on the stock. in a report on Wednesday, February 21st. Barclays reduced their target price on Palo Alto Networks from $400.00 to $345.00 and set an overweight rating on the stock in a research note on Wednesday, February 21st. Finally, Mizuho lowered their target price on shares of Palo Alto Networks from $405.00 to $350.00 and set a buy rating for the company in a research note on Wednesday, February 21st. Twelve equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $321.39.

Palo Alto Networks Trading Up 3.3 %

Shares of NASDAQ PANW opened at $321.60 on Tuesday. The stock has a market capitalization of $104.13 billion, a price-to-earnings ratio of 46.74, a P/E/G ratio of 5.04 and a beta of 1.18. Palo Alto Networks has a 12-month low of $201.17 and a 12-month high of $380.84. The firm’s 50-day moving average price is $290.37 and its 200-day moving average price is $299.74.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. On average, equities analysts predict that Palo Alto Networks will post 2.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The disclosure for this sale can be found here. In the last quarter, insiders have sold 278,326 shares of company stock worth $80,147,130. 3.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palo Alto Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC acquired a new position in shares of Palo Alto Networks in the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its holdings in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. Webster Bank N. A. increased its holdings in Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after buying an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC raised its position in shares of Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after acquiring an additional 47 shares in the last quarter. Finally, Ulland Investment Advisors LLC acquired a new stake in Palo Alto Networks during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.