Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $390.00

Palo Alto Networks (NASDAQ:PANW) had its price objective boosted by BMO Capital Markets from $334.00 to $390.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the network technology company’s stock.

Other equities research analysts have also issued reports about the company. Morgan Stanley reaffirmed an overweight rating and set a $360.00 target price on shares of Palo Alto Networks in a research report on Wednesday, June 12th. Barclays raised their target price on Palo Alto Networks from $325.00 to $350.00 and gave the company an overweight rating in a research report on Friday, August 9th. JMP Securities reaffirmed a market outperform rating and set a $380.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Susquehanna raised their target price on Palo Alto Networks from $325.00 to $340.00 and gave the company a positive rating in a research report on Tuesday, May 21st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Palo Alto Networks from $330.00 to $395.00 and gave the company a buy rating in a research report on Tuesday. Thirteen analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $363.49.

Palo Alto Networks Trading Down 2.9 %

NASDAQ PANW opened at $349.48 on Tuesday. The firm has a market capitalization of $113.16 billion, a P/E ratio of 50.80, a PEG ratio of 4.40 and a beta of 1.14. The business has a fifty day simple moving average of $329.49 and a 200 day simple moving average of $311.45. Palo Alto Networks has a 12 month low of $224.64 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. As a group, sell-side analysts predict that Palo Alto Networks will post 2.94 EPS for the current fiscal year.

Insider Activity

In other news, Director John P. Key sold 2,163 shares of Palo Alto Networks stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the completion of the sale, the director now owns 12,639 shares in the company, valued at approximately $3,860,076.99. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, President William D. Jenkins, Jr. sold 1,475 shares of Palo Alto Networks stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the sale, the president now owns 19,026 shares in the company, valued at approximately $6,452,097.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John P. Key sold 2,163 shares of Palo Alto Networks stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the sale, the director now owns 12,639 shares of the company’s stock, valued at approximately $3,860,076.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 366,372 shares of company stock worth $118,440,693. 3.30% of the stock is currently owned by insiders.

Institutional Trading of Palo Alto Networks

Hedge funds have recently bought and sold shares of the company. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks in the 1st quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new stake in Palo Alto Networks in the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares during the last quarter. Ulland Investment Advisors LLC bought a new stake in Palo Alto Networks in the 1st quarter worth approximately $30,000. Finally, Central Bank & Trust Co. lifted its position in Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares during the last quarter. Institutional investors 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.