Palo Alto Networks Price Target Increased to $50.00 by Analysts at BMO Capital Markets (PANW)
Research analysts at BMO Capital Markets lifted their price objective on shares of Palo Alto Networks (NASDAQ:PANW) from $48.00 to $50.00 in a report released on Tuesday, American Banking & Market News reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 6.75% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Lazard Capital Markets cut their price target on shares of Palo Alto Networks (NASDAQ:PANW) from $65.00 to $58.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Palo Alto Networks (NASDAQ:PANW) from $54.00 to $51.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Finally, analysts at JMP Securities downgraded shares of Palo Alto Networks (NASDAQ:PANW) from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday, September 3rd.
Fifteen investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Palo Alto Networks currently has an average rating of “Buy” and a consensus target price of $57.98.
Palo Alto Networks (NASDAQ:PANW) traded up 3.37% on Tuesday, hitting $48.4205. The stock had a trading volume of 2,574,310 shares. Palo Alto Networks has a 52 week low of $39.08 and a 52 week high of $70.33. The stock’s 50-day moving average is $48.23 and its 200-day moving average is $50.20. The company’s market cap is $3.444 billion. Palo Alto Networks also was the recipient of some unusual options trading on Monday. Stock traders acquired 6,242 put options on the stock. This is an increase of approximately 572% compared to the typical daily volume of 929 put options.
Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, September 9th. The company reported $0.06 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.06. The company had revenue of $112.40 million for the quarter, compared to the consensus estimate of $108.98 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 48.7% on a year-over-year basis. On average, analysts predict that Palo Alto Networks will post $0.21 earnings per share for the current fiscal year.
In other Palo Alto Networks news, CMO Rene Bonvanie sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $46.46, for a total value of $3,484,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Palo Alto Networks, Inc offers a network security platform that allows enterprises, service providers, and government entities to secure their networks.
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