Palo Alto Networks (NYSE:PANW) Price Target Raised to $230.00 at BMO Capital Markets

Palo Alto Networks (NYSE:PANW) had its price target increased by BMO Capital Markets from $220.00 to $230.00 in a report issued on Monday, BenzingaRatingsTable reports. The firm currently has a market perform rating on the network technology company’s stock.

A number of other brokerages have also recently commented on PANW. Credit Suisse Group upgraded shares of Palo Alto Networks from an underperform rating to a neutral rating and set a $190.00 price target on the stock in a research note on Thursday, April 23rd. DA Davidson raised shares of Palo Alto Networks from a neutral rating to a buy rating and upped their target price for the stock from $270.00 to $290.00 in a report on Monday. Barclays decreased their target price on shares of Palo Alto Networks from $260.00 to $236.00 and set an overweight rating on the stock in a report on Tuesday, February 25th. Northland Securities raised shares of Palo Alto Networks from a market perform rating to an outperform rating in a report on Wednesday, May 6th. Finally, Mizuho decreased their target price on shares of Palo Alto Networks from $245.00 to $215.00 and set a buy rating on the stock in a report on Wednesday, April 1st. Twelve research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Palo Alto Networks currently has a consensus rating of Buy and a consensus target price of $254.48.

Shares of PANW stock traded up $8.43 during trading on Monday, reaching $237.93. 4,103,310 shares of the company’s stock traded hands, compared to its average volume of 1,523,308. The company has a market capitalization of $23.38 billion, a P/E ratio of -132.19 and a beta of 1.14. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.13. The firm’s 50-day moving average is $194.57 and its 200 day moving average is $214.23. Palo Alto Networks has a 1 year low of $125.47 and a 1 year high of $251.10.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings results on Thursday, May 21st. The network technology company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $1.54. The company had revenue of $869.40 million for the quarter, compared to analysts’ expectations of $831.52 million. Palo Alto Networks had a negative net margin of 5.58% and a negative return on equity of 2.19%. Palo Alto Networks’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.31 EPS. As a group, sell-side analysts predict that Palo Alto Networks will post -0.77 earnings per share for the current fiscal year.

In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $194.20, for a total transaction of $2,330,400.00. Following the completion of the sale, the executive vice president now owns 986,875 shares of the company’s stock, valued at approximately $191,651,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Donovan purchased 8,102 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were purchased at an average cost of $185.35 per share, with a total value of $1,501,705.70. Following the transaction, the director now directly owns 11,222 shares in the company, valued at $2,079,997.70. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dai Ichi Life Insurance Company Ltd lifted its position in shares of Palo Alto Networks by 3.8% in the 4th quarter. Dai Ichi Life Insurance Company Ltd now owns 1,298 shares of the network technology company’s stock worth $300,000 after purchasing an additional 47 shares during the period. Integrated Investment Consultants LLC lifted its position in shares of Palo Alto Networks by 4.3% in the 4th quarter. Integrated Investment Consultants LLC now owns 1,168 shares of the network technology company’s stock worth $270,000 after purchasing an additional 48 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Palo Alto Networks by 21.1% in the 4th quarter. Quadrant Capital Group LLC now owns 275 shares of the network technology company’s stock worth $59,000 after purchasing an additional 48 shares during the period. OLD National Bancorp IN lifted its position in shares of Palo Alto Networks by 3.3% in the 4th quarter. OLD National Bancorp IN now owns 1,550 shares of the network technology company’s stock worth $358,000 after purchasing an additional 50 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of Palo Alto Networks by 2.0% in the 4th quarter. Parallel Advisors LLC now owns 2,784 shares of the network technology company’s stock worth $644,000 after purchasing an additional 54 shares during the period. 77.99% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances 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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