Palo Alto Networks (NASDAQ:PANW) Price Target Increased to $355.00 by Analysts at UBS Group

Palo Alto Networks (NASDAQ:PANW) had its price objective increased by UBS Group from $345.00 to $355.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the network technology company’s stock.

A number of other analysts have also weighed in on PANW. Needham & Company LLC increased their target price on Palo Alto Networks from $345.00 to $385.00 and gave the stock a buy rating in a research note on Tuesday. Citigroup lifted their price objective on shares of Palo Alto Networks from $345.00 to $385.00 and gave the company a buy rating in a report on Wednesday, August 14th. Stifel Nicolaus raised their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a buy rating in a research report on Tuesday. Argus boosted their price target on Palo Alto Networks from $336.00 to $348.00 and gave the company a buy rating in a report on Wednesday, May 29th. Finally, DA Davidson began coverage on Palo Alto Networks in a report on Friday, June 21st. They set a buy rating and a $380.00 price objective on the stock. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of Moderate Buy and a consensus price target of $363.49.

Palo Alto Networks Trading Down 2.9 %

PANW stock opened at $349.48 on Tuesday. The stock has a market cap of $113.16 billion, a PE ratio of 50.80, a P/E/G ratio of 4.40 and a beta of 1.14. Palo Alto Networks has a 12 month low of $224.64 and a 12 month high of $380.84. The company has a 50-day moving average price of $329.49 and a 200 day moving average price of $311.45.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts forecast that Palo Alto Networks will post 2.94 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the transaction, the president now directly owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the sale, the president now directly owns 19,026 shares in the company, valued at $6,452,097.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 366,372 shares of company stock worth $118,440,693. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PANW. Horizon Family Wealth Inc. increased its stake in shares of Palo Alto Networks by 1.1% in the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after purchasing an additional 28 shares in the last quarter. Manchester Capital Management LLC increased its position in shares of Palo Alto Networks by 17.2% in the fourth quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after buying an additional 30 shares in the last quarter. Kathmere Capital Management LLC raised its position in Palo Alto Networks by 3.4% during the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after acquiring an additional 30 shares during the period. Cascade Investment Group Inc. raised its position in shares of Palo Alto Networks by 2.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after purchasing an additional 31 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. lifted its stake in Palo Alto Networks by 2.3% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company’s stock valued at $450,000 after buying an additional 34 shares in the last quarter. 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.