Palo Alto Networks (NYSE:PANW) PT Raised to $426.00


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Palo Alto Networks (NYSE:PANW) had its target price boosted by equities research analysts at Deutsche Bank Aktiengesellschaft from $423.00 to $426.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the network technology company’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 10.84% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of Palo Alto Networks from a “neutral” rating to an “underweight” rating and set a $308.00 target price for the company. in a report on Wednesday, December 9th. BTIG Research lifted their target price on shares of Palo Alto Networks from $419.00 to $460.00 and gave the company a “buy” rating in a report on Monday, February 8th. The Goldman Sachs Group lifted their target price on shares of Palo Alto Networks from $310.00 to $408.00 and gave the company a “buy” rating in a report on Friday, January 8th. KeyCorp lifted their target price on shares of Palo Alto Networks from $391.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, January 20th. Finally, Credit Suisse Group raised shares of Palo Alto Networks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $385.00 to $425.00 in a report on Tuesday, February 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-nine have given a buy rating to the company. Palo Alto Networks has a consensus rating of “Buy” and an average target price of $357.79.

PANW opened at $384.35 on Tuesday. Palo Alto Networks has a 12-month low of $125.47 and a 12-month high of $403.00. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 4.18. The firm has a market capitalization of $36.72 billion, a PE ratio of -123.98 and a beta of 1.50. The firm has a 50 day moving average of $372.13 and a two-hundred day moving average of $296.77.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Sunday, February 21st. The network technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.12. Palo Alto Networks had a negative net margin of 8.36% and a negative return on equity of 8.66%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $985.90 million. During the same period last year, the firm posted $1.19 EPS. Palo Alto Networks’s revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, analysts predict that Palo Alto Networks will post -1.69 EPS for the current fiscal year.

In other news, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction on Tuesday, December 1st. The stock was sold at an average price of $293.89, for a total transaction of $3,526,680.00. Also, Director Mark D. Mclaughlin sold 40,000 shares of Palo Alto Networks stock in a transaction on Friday, November 27th. The stock was sold at an average price of $294.97, for a total value of $11,798,800.00. Following the transaction, the director now owns 87,354 shares in the company, valued at approximately $25,766,809.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,195 shares of company stock worth $68,692,035. 2.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PANW. Viking Global Investors LP purchased a new position in shares of Palo Alto Networks during the 4th quarter worth $670,667,000. Duquesne Family Office LLC raised its holdings in shares of Palo Alto Networks by 457.8% during the 4th quarter. Duquesne Family Office LLC now owns 459,060 shares of the network technology company’s stock worth $163,145,000 after acquiring an additional 376,760 shares during the period. Frontier Capital Management Co. LLC purchased a new stake in Palo Alto Networks in the 4th quarter valued at about $94,102,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Palo Alto Networks in the 4th quarter valued at about $89,061,000. Finally, Clearbridge Investments LLC raised its holdings in Palo Alto Networks by 8.1% in the 4th quarter. Clearbridge Investments LLC now owns 2,784,934 shares of the network technology company’s stock valued at $989,738,000 after buying an additional 208,986 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software 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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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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