Palo Alto Networks (PANW) Price Target Increased to $254.00 by Analysts at Raymond James

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Palo Alto Networks (NYSE:PANW) had its price target hoisted by Raymond James from $240.00 to $254.00 in a report issued on Wednesday. They currently have an outperform rating on the network technology company’s stock.

Other analysts also recently issued research reports about the company. Robert W. Baird lifted their price objective on Palo Alto Networks from $190.00 to $216.00 and gave the stock a neutral rating in a research note on Tuesday, June 5th. ValuEngine raised Palo Alto Networks from a buy rating to a strong-buy rating in a research note on Friday, August 3rd. Credit Suisse Group lifted their price objective on Palo Alto Networks from $150.00 to $175.00 and gave the stock an underweight rating in a research note on Tuesday, June 5th. TheStreet raised Palo Alto Networks from a d rating to a c- rating in a research note on Monday, June 4th. Finally, BMO Capital Markets lifted their price objective on Palo Alto Networks from $190.00 to $220.00 and gave the stock a market perform rating in a research note on Thursday, May 31st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $211.30.

NYSE PANW opened at $222.23 on Wednesday. Palo Alto Networks has a 12 month low of $135.85 and a 12 month high of $232.88.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Monday, June 4th. The network technology company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.08. Palo Alto Networks had a negative return on equity of 8.51% and a negative net margin of 8.65%. The company had revenue of $567.10 million for the quarter, compared to analysts’ expectations of $545.79 million. equities research analysts predict that Palo Alto Networks will post -0.27 EPS for the current year.

In other news, CFO Kathleen Bonanno sold 467 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $213.03, for a total transaction of $99,485.01. Following the transaction, the chief financial officer now owns 34,954 shares of the company’s stock, valued at approximately $7,446,250.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nikesh Arora bought 24,905 shares of the business’s stock in a transaction dated Friday, June 15th. The shares were bought at an average cost of $214.42 per share, for a total transaction of $5,340,130.10. Following the transaction, the chief executive officer now owns 232,152 shares in the company, valued at approximately $49,778,031.84. The disclosure for this purchase can be found here. In the last three months, insiders have bought 73,910 shares of company stock worth $15,307,149 and have sold 242,662 shares worth $49,447,386. Insiders own 4.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in Palo Alto Networks by 1.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 273,800 shares of the network technology company’s stock valued at $49,700,000 after acquiring an additional 3,289 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Palo Alto Networks by 241.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 41,647 shares of the network technology company’s stock worth $7,470,000 after buying an additional 29,435 shares during the period. Bank of Hawaii purchased a new stake in shares of Palo Alto Networks in the 1st quarter worth $324,000. Sandy Spring Bank lifted its holdings in shares of Palo Alto Networks by 473.7% in the 1st quarter. Sandy Spring Bank now owns 2,725 shares of the network technology company’s stock worth $495,000 after buying an additional 2,250 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Palo Alto Networks by 16.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 113,354 shares of the network technology company’s stock worth $20,575,000 after buying an additional 16,407 shares during the period. 81.59% of the stock is currently owned by hedge funds and other institutional investors.

About Palo Alto Networks

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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