Palo Alto Networks Given New $90.00 Price Target at FBN Securities (PANW)
Equities research analysts at FBN Securities increased their price objective on shares of Palo Alto Networks (NASDAQ:PANW) from $65.00 to $90.00 in a research note issued to investors on Monday, StockRatingsNetwork reports. FBN Securities’ price objective would indicate a potential upside of 22.25% from the company’s current price.
A number of other analysts have also recently weighed in on PANW. Analysts at FBR Capital Markets raised their price target on shares of Palo Alto Networks from $49.00 to $80.00 in a research note on Monday. They now have a “market perform” rating on the stock. Separately, analysts at Pacific Crest raised their price target on shares of Palo Alto Networks from $65.00 to $75.00 in a research note on Tuesday, February 4th. They now have an “outperform” rating on the stock. Finally, analysts at Wells Fargo & Co. upgraded shares of Palo Alto Networks from a “market perform” rating to an “outperform” rating in a research note on Monday, February 3rd. They now have a $78.00 price target on the stock, up previously from $54.50. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $62.96.
In other Palo Alto Networks news, CMO Rene Bonvanie unloaded 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $72.00, for a total value of $3,600,000.00. Following the completion of the transaction, the chief marketing officer now directly owns 226,578 shares in the company, valued at approximately $16,313,616. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Palo Alto Networks (NASDAQ:PANW) traded up 5.35% on Monday, hitting $77.56. 2,385,215 shares of the company’s stock traded hands. Palo Alto Networks has a 52 week low of $39.08 and a 52 week high of $74.28. The stock has a 50-day moving average of $63.98 and a 200-day moving average of $51.49. The company’s market cap is $5.622 billion.
Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, February 24th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $141.10 million for the quarter, compared to the consensus estimate of $139.62 million. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.