Palo Alto Networks (PANW) PT Raised to $275.00 at KeyCorp

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Palo Alto Networks (NYSE:PANW) had its price target raised by analysts at KeyCorp from $245.00 to $275.00 in a report released on Friday, September 7th, The Fly reports. The firm currently has an “overweight” rating on the network technology company’s stock. KeyCorp’s price target would indicate a potential upside of 17.21% from the stock’s previous close.

A number of other research firms also recently commented on PANW. Royal Bank of Canada increased their price objective on shares of Palo Alto Networks to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 23rd. Deutsche Bank increased their price objective on shares of Palo Alto Networks from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, May 24th. Deutsche Bank raised their target price on shares of Palo Alto Networks from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 24th. Barclays raised their target price on shares of Palo Alto Networks from $206.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, May 30th. Finally, Stifel Nicolaus increased their price target on shares of Palo Alto Networks from $200.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, May 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $237.78.

Shares of PANW traded down $1.48 during trading hours on Friday, reaching $234.62. The stock had a trading volume of 986,443 shares, compared to its average volume of 1,334,259. Palo Alto Networks has a 52 week low of $135.85 and a 52 week high of $239.50. The stock has a market cap of $21.94 billion, a P/E ratio of -426.58, a P/E/G ratio of 16.59 and a beta of 0.83.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, September 6th. The network technology company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.11. The business had revenue of $658.10 million during the quarter, compared to analysts’ expectations of $634.14 million. Palo Alto Networks had a negative net margin of 6.51% and a negative return on equity of 4.57%. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. research analysts predict that Palo Alto Networks will post 0.61 earnings per share for the current year.

In other news, Director Stanley J. Meresman sold 1,979 shares of Palo Alto Networks stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $234.22, for a total transaction of $463,521.38. Following the transaction, the director now owns 5,716 shares in the company, valued at $1,338,801.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nir Zuk sold 30,000 shares of the business’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $212.85, for a total transaction of $6,385,500.00. Following the completion of the transaction, the executive vice president now owns 1,272,500 shares in the company, valued at approximately $270,851,625. The disclosure for this sale can be found here. In the last quarter, insiders have sold 222,447 shares of company stock worth $46,674,570. 4.80% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in PANW. Summit Trail Advisors LLC lifted its holdings in Palo Alto Networks by 19,903.8% in the first quarter. Summit Trail Advisors LLC now owns 848,163 shares of the network technology company’s stock valued at $848,000 after buying an additional 843,923 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Palo Alto Networks by 84.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,461,226 shares of the network technology company’s stock valued at $300,238,000 after buying an additional 670,016 shares during the period. Bank of Montreal Can lifted its holdings in Palo Alto Networks by 193.7% in the second quarter. Bank of Montreal Can now owns 545,383 shares of the network technology company’s stock valued at $112,061,000 after buying an additional 359,685 shares during the period. First Trust Advisors LP lifted its holdings in Palo Alto Networks by 199.8% in the second quarter. First Trust Advisors LP now owns 529,520 shares of the network technology company’s stock valued at $108,800,000 after buying an additional 352,914 shares during the period. Finally, Altshuler Shaham Ltd bought a new stake in Palo Alto Networks in the second quarter valued at $65,038,000. Institutional investors and hedge funds own 81.57% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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