Palo Alto Networks (NASDAQ:PANW) PT Raised to $450.00 at Oppenheimer

Palo Alto Networks (NASDAQ:PANW) had its price objective lifted by Oppenheimer from $410.00 to $450.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the network technology company’s stock. Oppenheimer’s price target indicates a potential upside of 25.63% from the company’s previous close.

A number of other analysts have also commented on PANW. Wedbush reaffirmed an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a research report on Friday, August 16th. Rosenblatt Securities upped their target price on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Royal Bank of Canada increased their target price on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. JMP Securities restated a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Finally, Evercore ISI raised their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average price target of $376.82.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $358.19 on Tuesday. The stock has a market capitalization of $115.98 billion, a price-to-earnings ratio of 52.06, a PEG ratio of 5.43 and a beta of 1.13. Palo Alto Networks has a 52-week low of $233.81 and a 52-week high of $384.00. The stock’s 50 day moving average price is $350.84 and its two-hundred day moving average price is $325.17.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. Palo Alto Networks’s revenue was up 12.1% on a year-over-year basis. On average, equities research analysts forecast that Palo Alto Networks will post 3.57 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $47,055,533.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the sale, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $47,055,533.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,452 shares of company stock worth $118,643,279 over the last quarter. 3.30% of the stock is currently owned by company insiders.

Institutional Trading of Palo Alto Networks

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kathmere Capital Management LLC grew its position 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 in the last quarter. FLC Capital Advisors grew its position in Palo Alto Networks by 0.7% during the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after buying an additional 30 shares in the last quarter. Cromwell Holdings LLC increased its stake in Palo Alto Networks by 3.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after acquiring an additional 30 shares during the last quarter. Cascade Investment Group Inc. increased its stake in Palo Alto Networks by 2.9% in the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after acquiring an additional 31 shares during the last quarter. Finally, Herbst Group LLC raised its holdings in shares of Palo Alto Networks by 0.3% in the 3rd quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock valued at $3,313,000 after acquiring an additional 31 shares in the last quarter. Institutional investors 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.