Palo Alto Networks Price Target Increased to $95.00 by Analysts at Deutsche Bank (PANW)
Analysts at Deutsche Bank raised their price target on shares of Palo Alto Networks (NASDAQ:PANW) from $90.00 to $95.00 in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective points to a potential upside of 36.67% from the company’s current price.
The analysts wrote, “The surprising and positive settlement of the PANW-JNPR IP lawsuit overshadowed what was a very strong 3QF14 qtr. The $175m cash and share settlement (with no royalty fee) was considerably better than buy-side expectations (which we believe were for a ~$500m payment and a 2%-3% royalty). Coupled with PANW’s $20m payment last quarter to FTNT to release their legal claims, PANW has now materially de-risked the investment story. Maintain Buy.”
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at Goldman Sachs cut their price target on shares of Palo Alto Networks from $86.00 to $85.00 in a research note on Thursday, May 22nd. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $78.38.
In other Palo Alto Networks news, Director Asheem Chandna sold 26,250 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $65.70, for a total value of $1,724,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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’s 50-day moving average is $65.10 and its 200-day moving average is $62.69. The company’s market cap is $5.148 billion.
Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Wednesday, May 28th. The company reported $0.11 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.06 earnings per share. Palo Alto Networks’s revenue was up 48.8% compared to the same quarter last year. Analysts expect that Palo Alto Networks will post $0.38 EPS 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.