Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $425.00

Palo Alto Networks (NASDAQ:PANW) had its price objective increased by research analysts at Barclays from $410.00 to $425.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the network technology company’s stock. Barclays‘s target price suggests a potential upside of 6.78% from the stock’s previous close.

A number of other equities research analysts have also weighed in on PANW. Susquehanna raised their price objective on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research note on Thursday, September 5th. BTIG Research upped their price target on shares of Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Bank of America raised their price objective on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Robert W. Baird upped their target price on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Finally, Evercore ISI lifted their price target on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $378.87.

Palo Alto Networks Stock Down 0.0 %

PANW opened at $398.02 on Monday. The firm’s 50 day moving average is $355.84 and its 200-day moving average is $333.78. Palo Alto Networks has a 52-week low of $234.15 and a 52-week high of $400.69. The firm has a market capitalization of $129.60 billion, a P/E ratio of 54.90, a P/E/G ratio of 5.68 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly 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. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. Equities analysts expect that Palo Alto Networks will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 255,252 shares of company stock valued at $89,383,077. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Palo Alto Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marco Investment Management LLC boosted its position in shares of Palo Alto Networks by 2.9% in the third quarter. Marco Investment Management LLC now owns 68,475 shares of the network technology company’s stock worth $23,405,000 after buying an additional 1,930 shares during the period. Penserra Capital Management LLC lifted its stake in Palo Alto Networks by 23.5% in the 3rd quarter. Penserra Capital Management LLC now owns 297,617 shares of the network technology company’s stock worth $101,725,000 after acquiring an additional 56,690 shares in the last quarter. Pitcairn Co. boosted its position in Palo Alto Networks by 29.5% during the 3rd quarter. Pitcairn Co. now owns 5,915 shares of the network technology company’s stock worth $2,022,000 after acquiring an additional 1,347 shares during the period. KKM Financial LLC grew its stake in Palo Alto Networks by 4.3% during the 3rd quarter. KKM Financial LLC now owns 10,984 shares of the network technology company’s stock valued at $3,754,000 after acquiring an additional 455 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Palo Alto Networks by 7.1% in the 3rd quarter. Cerity Partners LLC now owns 438,602 shares of the network technology company’s stock valued at $149,914,000 after purchasing an additional 29,122 shares during the period. 79.82% of the stock is currently owned by hedge funds and other 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.