Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $435.00

Palo Alto Networks (NASDAQ:PANW) had its target price hoisted by Robert W. Baird from $425.00 to $435.00 in a research report sent to investors on Thursday morning. They currently have an outperform rating on the network technology company’s stock.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC upped their price objective on shares of Palo Alto Networks from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palo Alto Networks from $395.00 to $415.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $450.00 price objective on shares of Palo Alto Networks in a research report on Thursday. OTR Global restated a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. Finally, BNP Paribas began coverage on Palo Alto Networks in a research note on Tuesday, October 8th. They set an “outperform” rating and a $410.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $402.03.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $383.36 on Thursday. Palo Alto Networks has a 52 week low of $260.09 and a 52 week high of $408.53. The firm has a market cap of $124.82 billion, a PE ratio of 49.92, a price-to-earnings-growth ratio of 5.76 and a beta of 1.12. The firm’s fifty day moving average is $364.32 and its 200-day moving average is $339.63.

Shares of Palo Alto Networks are going to split on the morning of Monday, December 16th. The 2-1 split was announced on Wednesday, November 20th. The newly issued shares will be payable to shareholders after the closing bell on Friday, December 13th.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Wednesday, November 20th. The network technology company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.08. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Sell-side analysts forecast that Palo Alto Networks will post 3.57 EPS for the current year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 11.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,252 shares of company stock worth $89,041,637 in the last ninety days. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Palo Alto Networks

Institutional investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks during the 1st quarter valued at approximately $25,000. Capital Advisors Ltd. LLC raised its holdings in Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 41 shares during the period. Sound Income Strategies LLC lifted its position in shares of Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 55 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Palo Alto Networks in the third quarter valued at $29,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

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.