Palo Alto Networks (NASDAQ:PANW) Price Target Increased to $420.00 by Analysts at Susquehanna

Palo Alto Networks (NASDAQ:PANW) had its price target boosted by analysts at Susquehanna from $340.00 to $420.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “positive” rating on the network technology company’s stock. Susquehanna’s price objective would indicate a potential upside of 22.49% from the company’s current price.

Other equities analysts have also issued reports about the stock. TD Cowen upped their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. BTIG Research upped their price target on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. BMO Capital Markets upped their target price on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Morgan Stanley upped their target price on shares of Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Bank of America upped their target price on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $366.08.

Palo Alto Networks Stock Down 0.9 %

Shares of PANW traded down $3.27 during trading hours on Thursday, reaching $342.88. 63,091 shares of the company traded hands, compared to its average volume of 4,330,700. The company’s fifty day moving average price is $335.82 and its two-hundred day moving average price is $310.46. The company has a market capitalization of $111.02 billion, a price-to-earnings ratio of 49.78, a price-to-earnings-growth ratio of 5.29 and a beta of 1.13. Palo Alto Networks has a 12 month low of $224.64 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts expect that Palo Alto Networks will post 3.55 EPS for the current year.

Insiders Place Their Bets

In other news, Director John P. Key sold 2,163 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the transaction, the director now owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares in the company, valued at $6,452,097.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John P. Key sold 2,163 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the completion of the sale, the director now owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The disclosure for this sale can be found here. Insiders have sold a total of 339,572 shares of company stock valued at $111,126,265 over the last 90 days. 3.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palo Alto Networks

Institutional investors have recently made changes to their positions in the stock. Coronation Fund Managers Ltd. bought a new stake in Palo Alto Networks during the second quarter worth $8,489,000. Brown Financial Advisors bought a new stake in Palo Alto Networks during the second quarter worth $1,828,000. Gordian Capital Singapore Pte Ltd lifted its stake in Palo Alto Networks by 255.8% during the second quarter. Gordian Capital Singapore Pte Ltd now owns 2,003 shares of the network technology company’s stock worth $679,000 after purchasing an additional 1,440 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in Palo Alto Networks during the second quarter worth $258,000. Finally, KPP Advisory Services LLC bought a new position in shares of Palo Alto Networks in the 2nd quarter valued at $221,000. 79.82% of the stock is currently owned by institutional investors.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.