Palo Alto Networks (NYSE:PANW) had its target price raised by investment analysts at Robert W. Baird from $235.00 to $265.00 in a research report issued on Friday, Briefing.com Automated Import reports. The firm currently has an “outperform” rating on the network technology company’s stock. Robert W. Baird’s target price suggests a potential upside of 13.42% from the stock’s previous close.
A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $284.00 to $236.00 in a report on Tuesday, February 25th. ValuEngine raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Bank of America reissued a “neutral” rating and set a $255.00 price target (up previously from $200.00) on shares of Palo Alto Networks in a report on Friday. Mizuho boosted their price target on shares of Palo Alto Networks from $240.00 to $265.00 and gave the company a “buy” rating in a report on Friday. Finally, Credit Suisse Group raised shares of Palo Alto Networks from an “underperform” rating to a “neutral” rating and set a $190.00 price target for the company in a report on Thursday, April 23rd. Twelve analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Palo Alto Networks currently has an average rating of “Buy” and a consensus target price of $254.48.
Palo Alto Networks stock traded up $4.15 during mid-day trading on Friday, reaching $233.65. The company’s stock had a trading volume of 212,776 shares, compared to its average volume of 1,247,325. The firm has a market cap of $23.38 billion, a price-to-earnings ratio of -129.69 and a beta of 1.14. The business has a 50 day moving average price of $194.57 and a 200-day moving average price of $214.23. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.13. Palo Alto Networks has a twelve month low of $125.47 and a twelve month high of $251.10.
Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, May 21st. The network technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $1.54. The firm had revenue of $869.40 million during the quarter, compared to the consensus estimate of $831.52 million. Palo Alto Networks had a negative net margin of 5.58% and a negative return on equity of 2.19%. The firm’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.31 earnings per share. On average, equities analysts expect that Palo Alto Networks will post -0.77 EPS for the current fiscal year.
In other Palo Alto Networks news, Director John Donovan purchased 8,127 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $184.62 per share, for a total transaction of $1,500,406.74. Following the purchase, the director now directly owns 11,222 shares in the company, valued at approximately $2,071,805.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $165.75, for a total transaction of $1,989,000.00. Following the transaction, the executive vice president now owns 838,699 shares in the company, valued at approximately $139,014,359.25. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of PANW. Howard Wealth Management LLC bought a new stake in Palo Alto Networks during the fourth quarter worth approximately $25,000. Clean Yield Group bought a new stake in Palo Alto Networks during the first quarter worth approximately $30,000. Keebeck Wealth Management LLC bought a new stake in Palo Alto Networks during the fourth quarter worth approximately $37,000. Farmers & Merchants Investments Inc. boosted its position in shares of Palo Alto Networks by 2,150.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 225 shares of the network technology company’s stock valued at $37,000 after acquiring an additional 215 shares during the period. Finally, Advisory Alpha LLC increased its stake in Palo Alto Networks by 1,153.8% during the fourth quarter. Advisory Alpha LLC now owns 163 shares of the network technology company’s stock valued at $39,000 after acquiring an additional 150 shares during the period. 77.99% of the stock is currently owned by institutional investors and hedge funds.
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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