Palo Alto Networks Inc. Sets New 1-Year High at $67.40 (PANW)
Palo Alto Networks (NASDAQ:PANW)’s share price reached a new 52-week high during trading hours on Thursday, Analyst Ratings.Net reports. The company traded as high as $67.40 and last traded at $65.84, with a volume of 3,633,103 shares traded. The stock had previously closed at $59.95.
A number of analysts have recently weighed in on PANW shares. Analysts at Pacific Crest raised their price target on shares of Palo Alto Networks from $65.00 to $75.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Wells Fargo & Co. upgraded shares of Palo Alto Networks from a “market perform” rating to an “outperform” rating in a research note to investors on Monday. They now have a $78.00 price target on the stock, up previously from $54.50. Finally, analysts at Deutsche Bank initiated coverage on shares of Palo Alto Networks in a research note to investors on Wednesday, January 22nd. They set a “buy” rating and a $75.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $60.52.
In other Palo Alto Networks news, Director Asheem Chandna sold 26,250 shares of the company’s stock on the open market in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $60.92, for a total transaction of $1,599,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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 $59.40 and its 200-day moving average is $49.90. The company’s market cap is $4.853 billion.
Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, November 25th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter 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.
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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