Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $410.00

Palo Alto Networks (NASDAQ:PANW) had its price objective raised by Barclays from $370.00 to $410.00 in a research note released on Thursday morning, Benzinga reports. They currently have an overweight rating on the network technology company’s stock.

Other equities analysts have also issued research reports about the stock. Oppenheimer upped their target price on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group raised their price objective on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. BTIG Research increased their price target on Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Rosenblatt Securities upped their price objective on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Citigroup raised their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $375.79.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $374.83 on Thursday. Palo Alto Networks has a one year low of $233.81 and a one year high of $380.84. The company’s fifty day moving average price is $348.67 and its 200-day moving average price is $323.01. The company has a market capitalization of $121.37 billion, a price-to-earnings ratio of 54.48, a PEG ratio of 5.42 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Equities research analysts expect that Palo Alto Networks will post 3.56 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the transaction, the executive vice president now directly owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the sale, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,452 shares of company stock worth $118,643,279. 3.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palo Alto Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of PANW. Kathmere Capital Management LLC lifted its holdings in shares of Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after purchasing an additional 30 shares during the last quarter. FLC Capital Advisors raised its stake in Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after buying an additional 30 shares during the last quarter. Cascade Investment Group Inc. raised its stake in Palo Alto Networks by 2.9% in the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after buying an additional 31 shares during the last quarter. Herbst Group LLC boosted its holdings in Palo Alto Networks by 0.3% in the third quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock worth $3,313,000 after acquiring an additional 31 shares in the last quarter. Finally, First PREMIER Bank grew its stake in shares of Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

About Palo Alto Networks

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.