Palo Alto Networks (PANW) PT Raised to $262.00

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Palo Alto Networks (NYSE:PANW) had its target price hoisted by Morgan Stanley from $240.00 to $262.00 in a research report released on Friday. They currently have an overweight rating on the network technology company’s stock.

Several other research firms have also issued reports on PANW. JMP Securities lifted their target price on Palo Alto Networks from $210.00 to $240.00 and gave the company an outperform rating in a research note on Monday, June 4th. Jefferies Financial Group lifted their target price on Palo Alto Networks from $206.00 to $239.00 and gave the company a buy rating in a research note on Monday, June 4th. Maxim Group lifted their target price on Palo Alto Networks from $212.00 to $262.00 and gave the company a buy rating in a research note on Tuesday, June 5th. Monness Crespi & Hardt lifted their target price on Palo Alto Networks from $210.00 to $235.00 and gave the company a buy rating in a research note on Tuesday, June 5th. Finally, Wells Fargo & Co lifted their target price on Palo Alto Networks from $240.00 to $250.00 and gave the company an outperform rating in a research note on Thursday, June 28th. Three analysts have rated the stock with a sell rating, five have given a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $234.19.

Shares of PANW stock traded up $7.24 on Friday, hitting $227.61. The stock had a trading volume of 3,209,412 shares, compared to its average volume of 1,246,415. The company has a market capitalization of $20.47 billion, a P/E ratio of -413.84, a PEG ratio of 19.69 and a beta of 0.83. Palo Alto Networks has a one year low of $135.85 and a one year high of $234.35.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, September 6th. The network technology company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. Palo Alto Networks had a negative return on equity of 4.57% and a negative net margin of 6.51%. The firm had revenue of $658.10 million during the quarter, compared to the consensus estimate of $634.14 million. During the same period in the previous year, the company posted $0.92 earnings per share. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. analysts predict that Palo Alto Networks will post 0.48 EPS for the current year.

In other news, CFO Kathleen Bonanno sold 5,818 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $199.61, for a total transaction of $1,161,330.98. Following the sale, the chief financial officer now owns 42,780 shares in the company, valued at $8,539,315.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark D. Mclaughlin sold 40,000 shares of the business’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $204.84, for a total value of $8,193,600.00. Following the sale, the director now owns 333,756 shares in the company, valued at approximately $68,366,579.04. The disclosure for this sale can be found here. Insiders have sold 242,662 shares of company stock worth $49,447,386 in the last 90 days. Insiders own 4.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PANW. Banco de Sabadell S.A acquired a new stake in shares of Palo Alto Networks during the second quarter worth about $103,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Palo Alto Networks by 2,475.0% during the second quarter. CIBC Private Wealth Group LLC now owns 515 shares of the network technology company’s stock worth $106,000 after purchasing an additional 495 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Palo Alto Networks by 107.7% during the first quarter. Trust Co. of Vermont now owns 671 shares of the network technology company’s stock worth $121,000 after purchasing an additional 348 shares during the period. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of Palo Alto Networks during the second quarter worth about $123,000. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Palo Alto Networks during the second quarter worth about $177,000. 81.59% of the stock is 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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