BTIG Research Boosts Palo Alto Networks (NASDAQ:PANW) Price Target to $395.00

Palo Alto Networks (NASDAQ:PANW) had its target price upped by BTIG Research from $366.00 to $395.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the network technology company’s stock.

A number of other research firms also recently issued reports on PANW. KeyCorp lowered their price target on Palo Alto Networks from $384.00 to $380.00 and set an overweight rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. upped their target price on Palo Alto Networks from $340.00 to $365.00 and gave the stock an overweight rating in a research report on Thursday, August 15th. Evercore ISI decreased their target price on Palo Alto Networks from $405.00 to $385.00 and set an outperform rating for the company in a research report on Tuesday, May 14th. Susquehanna upped their target price on Palo Alto Networks from $325.00 to $340.00 and gave the stock a positive rating in a research report on Tuesday, May 21st. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $350.00 target price on shares of Palo Alto Networks in a research report on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $363.49.

Palo Alto Networks Trading Up 0.4 %

PANW stock opened at $350.75 on Tuesday. The stock has a 50-day moving average price of $330.16 and a two-hundred day moving average price of $311.49. Palo Alto Networks has a 12-month low of $224.64 and a 12-month high of $380.84. The company has a market cap of $113.57 billion, a PE ratio of 50.98, a price-to-earnings-growth ratio of 4.40 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks will post 2.94 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other news, Director John P. Key sold 2,163 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the sale, the director now directly owns 12,639 shares in the company, valued at approximately $3,860,076.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John P. Key sold 2,163 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the sale, the director now directly owns 12,639 shares in the company, valued at approximately $3,860,076.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 125,866 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the transaction, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at $55,791,570. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 366,372 shares of company stock worth $118,440,693. 3.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palo Alto Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC bought a new position in Palo Alto Networks in the 1st quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new position in Palo Alto Networks in the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its holdings in Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares in the last quarter. Ulland Investment Advisors LLC bought a new position in Palo Alto Networks during the 1st quarter valued at $30,000. Finally, ICA Group Wealth Management LLC bought a new position in Palo Alto Networks during the 4th quarter valued at $31,000. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Company Profile

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.