Goldman Sachs Group Increases Palo Alto Networks (NYSE:PANW) Price Target to $250.00

Palo Alto Networks (NYSE:PANW) had its target price upped by Goldman Sachs Group from $219.00 to $250.00 in a report issued on Friday, Briefing.com Automated Import reports. The firm currently has a “buy” rating on the network technology company’s stock. Goldman Sachs Group’s target price suggests a potential upside of 7.00% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Wedbush decreased their price target on shares of Palo Alto Networks from $275.00 to $240.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. Dougherty & Co upgraded Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Tuesday. Monness Crespi & Hardt upped their price objective on Palo Alto Networks from $210.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday. Robert W. Baird reissued a “buy” rating on shares of Palo Alto Networks in a report on Friday. Finally, DA Davidson raised Palo Alto Networks from a “neutral” rating to a “buy” rating and upped their target price for the stock from $270.00 to $290.00 in a research note on Monday. Twelve investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Palo Alto Networks has a consensus rating of “Buy” and an average price target of $254.48.

PANW traded up $4.15 during trading on Friday, reaching $233.65. 212,776 shares of the company were exchanged, compared to its average volume of 1,247,325. The company’s 50-day moving average is $194.57 and its two-hundred day moving average is $214.23. The company has a market cap of $23.38 billion, a price-to-earnings ratio of -129.69 and a beta of 1.14. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.13. Palo Alto Networks has a 12-month low of $125.47 and a 12-month high of $251.10.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Thursday, May 21st. The network technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of ($0.37) by $1.54. Palo Alto Networks had a negative return on equity of 2.19% and a negative net margin of 5.58%. The firm had revenue of $869.40 million for the quarter, compared to analysts’ expectations of $831.52 million. During the same quarter last year, the firm posted $1.31 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks will post -0.77 earnings per share for the current year.

In related news, Director John Donovan bought 8,127 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $184.62 per share, with a total value of $1,500,406.74. Following the transaction, the director now owns 11,222 shares in the company, valued at approximately $2,071,805.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $194.20, for a total transaction of $2,330,400.00. Following the completion of the sale, the executive vice president now directly owns 986,875 shares of the company’s stock, valued at $191,651,125. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Dai Ichi Life Insurance Company Ltd increased its stake in shares of Palo Alto Networks by 3.8% in the 4th quarter. Dai Ichi Life Insurance Company Ltd now owns 1,298 shares of the network technology company’s stock worth $300,000 after acquiring an additional 47 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Palo Alto Networks by 4.3% in the 4th quarter. Integrated Investment Consultants LLC now owns 1,168 shares of the network technology company’s stock worth $270,000 after acquiring an additional 48 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Palo Alto Networks by 21.1% in the 4th quarter. Quadrant Capital Group LLC now owns 275 shares of the network technology company’s stock worth $59,000 after acquiring an additional 48 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Palo Alto Networks by 2.0% in the 4th quarter. Parallel Advisors LLC now owns 2,784 shares of the network technology company’s stock worth $644,000 after acquiring an additional 54 shares in the last quarter. Finally, Montag A & Associates Inc. increased its stake in shares of Palo Alto Networks by 3.5% in the 1st quarter. Montag A & Associates Inc. now owns 1,956 shares of the network technology company’s stock worth $321,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 77.99% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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