Evercore ISI set a $180.00 target price on Palo Alto Networks (NYSE:PANW) in a research report sent to investors on Wednesday. The firm currently has a buy rating on the network technology company’s stock.
A number of other brokerages also recently commented on PANW. Goldman Sachs Group downgraded Palo Alto Networks from a buy rating to a neutral rating and set a $168.00 price objective for the company. in a research report on Monday, January 22nd. Zacks Investment Research upgraded Palo Alto Networks from a hold rating to a strong-buy rating and set a $181.00 price objective for the company in a research report on Monday, January 22nd. KeyCorp increased their price objective on Palo Alto Networks from $170.00 to $190.00 and gave the company an overweight rating in a research report on Monday, February 5th. Deutsche Bank upgraded Palo Alto Networks from a hold rating to a buy rating and set a $180.00 price objective for the company in a research report on Tuesday, January 23rd. Finally, Dougherty & Co reiterated a buy rating and set a $180.00 price objective (up previously from $170.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirty-four have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $167.39.
Shares of Palo Alto Networks (NYSE PANW) opened at $162.08 on Wednesday. Palo Alto Networks has a 52-week low of $107.31 and a 52-week high of $163.88. The company has a market capitalization of $14,756.45, a price-to-earnings ratio of -65.89 and a beta of 1.04.
Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Monday, November 20th. The network technology company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The company had revenue of $505.50 million during the quarter, compared to the consensus estimate of $489.36 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. research analysts expect that Palo Alto Networks will post -0.37 earnings per share for the current year.
In other Palo Alto Networks news, Director James J. Goetz sold 78,000 shares of the stock in a transaction on Friday, December 29th. The shares were sold at an average price of $146.78, for a total transaction of $11,448,840.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Nir Zuk sold 30,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $158.82, for a total transaction of $4,764,600.00. The disclosure for this sale can be found here. Insiders sold 396,644 shares of company stock worth $59,381,588 over the last ninety days. 4.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of PANW. Cerebellum GP LLC acquired a new position in Palo Alto Networks during the fourth quarter worth $127,000. Penserra Capital Management LLC acquired a new position in Palo Alto Networks during the third quarter worth $162,000. Benjamin F. Edwards & Company Inc. increased its position in Palo Alto Networks by 495.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock worth $178,000 after buying an additional 1,025 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Palo Alto Networks during the fourth quarter worth $192,000. Finally, Shelton Capital Management acquired a new position in Palo Alto Networks during the second quarter worth $201,000. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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