Palo Alto Networks Given New $72.00 Price Target at Stifel Nicolaus (PANW)
Equities research analysts at Stifel Nicolaus increased their target price on shares of Palo Alto Networks (NASDAQ:PANW) from $60.00 to $72.00 in a research note issued to investors on Wednesday, AmericanBankingNews.com reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 17.13% from the company’s current price.
In other Palo Alto Networks news, VP Rajiv Batra sold 100,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $62.58, for a total transaction of $6,258,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Palo Alto Networks (NASDAQ:PANW) opened at 61.47 on Wednesday. Palo Alto Networks has a one year low of $39.08 and a one year high of $64.92. The stock’s 50-day moving average is $56.62 and its 200-day moving average is $48.79. The company’s market cap is $4.456 billion.
Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, November 25th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.07 by $0.01. The company had revenue of $128.20 million for the quarter, compared to the consensus estimate of $120.81 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 49.2% on a year-over-year basis. On average, analysts predict that Palo Alto Networks will post $0.42 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at TheStreet upgraded shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a research note to investors on Tuesday, December 17th. Separately, analysts at Zacks upgraded shares of Palo Alto Networks from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, December 13th. They now have a $53.10 price target on the stock. Finally, analysts at Raymond James downgraded shares of Palo Alto Networks from a “strong-buy” rating to an “outperform” rating in a research note to investors on Monday, December 2nd. They now have a $56.00 price target on the stock, down previously from $63.00. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $58.70.
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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