Palo Alto Networks PT Raised to $87.50 at Credit Suisse (PANW)
Credit Suisse lifted their price objective on shares of Palo Alto Networks (NASDAQ:PANW) from $82.50 to $87.50 in a research note issued on Thursday. Credit Suisse’s price target suggests a potential upside of 25.88% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of Palo Alto Networks from $90.00 to $95.00 in a research note on Thursday. Separately, analysts at Zacks upgraded shares of Palo Alto Networks from an “underperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $68.00 price target on the stock. Finally, analysts at Nomura upgraded shares of Palo Alto Networks from a “neutral” rating to a “buy” rating in a research note on Tuesday. They now have a $80.00 price target on the stock, up previously from $60.00. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Palo Alto Networks has a consensus rating of “Buy” and a consensus price target of $75.50.
In other Palo Alto Networks news, Director Asheem Chandna unloaded 26,250 shares of the stock on the open market in a transaction dated Friday, May 23rd. The stock was sold at an average price of $65.70, for a total transaction of $1,724,625.00. The transaction 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 69.51 on Thursday. Palo Alto Networks has a 52-week low of $39.08 and a 52-week high of $80.84. The stock has a 50-day moving average of $65.10 and a 200-day moving average of $62.69. The company’s market cap is $5.148 billion.
Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Wednesday, May 28th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.10 by $0.01. The company had revenue of $150.70 million for the quarter, compared to the consensus estimate of $146.13 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 48.8% on a year-over-year basis. On average, analysts predict that Palo Alto Networks will post $0.38 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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