Palo Alto Networks (NYSE:PANW) Price Target Increased to $265.00 by Analysts at Robert W. Baird

Palo Alto Networks (NYSE:PANW) had its price target lifted by Robert W. Baird from $235.00 to $265.00 in a research report released on Friday, Briefing.com Automated Import reports. The firm currently has an outperform rating on the network technology company’s stock.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. lowered shares of Palo Alto Networks from an overweight rating to a neutral rating and reduced their price target for the company from $284.00 to $236.00 in a research report on Tuesday, February 25th. Royal Bank of Canada upped their target price on shares of Palo Alto Networks from $175.00 to $225.00 and gave the company a sector perform rating in a report on Tuesday. Jefferies Financial Group upped their price objective on Palo Alto Networks from $200.00 to $275.00 and gave the stock a buy rating in a research note on Friday. Wedbush lowered their target price on Palo Alto Networks from $275.00 to $240.00 and set an outperform rating on the stock in a research report on Tuesday, February 25th. Finally, BTIG Research began coverage on Palo Alto Networks in a research report on Friday, March 27th. They issued a neutral rating for the company. Twelve equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Palo Alto Networks currently has an average rating of Buy and a consensus price target of $254.48.

PANW traded up $8.43 during mid-day trading on Friday, reaching $237.93. 4,098,348 shares of the company traded hands, compared to its average volume of 1,345,703. The company’s fifty day moving average price is $195.88 and its 200-day moving average price is $214.24. The stock has a market capitalization of $22.88 billion, a P/E ratio of -100.82 and a beta of 1.14. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.13. Palo Alto Networks has a 52-week low of $125.47 and a 52-week high of $251.10.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Thursday, May 21st. The network technology company reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $1.54. The company had revenue of $869.40 million during the quarter, compared to analyst estimates of $831.52 million. Palo Alto Networks had a negative return on equity of 5.65% and a negative net margin of 7.01%. Palo Alto Networks’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 earnings per share. As a group, sell-side analysts forecast that Palo Alto Networks will post -0.77 earnings per share for the current fiscal year.

In other Palo Alto Networks news, Director John Donovan bought 8,102 shares of Palo Alto Networks stock in a transaction dated Monday, March 2nd. The shares were purchased at an average cost of $185.35 per share, for a total transaction of $1,501,705.70. Following the acquisition, the director now directly owns 11,222 shares in the company, valued at approximately $2,079,997.70. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 986,875 shares of the company’s stock, valued at approximately $191,651,125. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in PANW. Nisa Investment Advisors LLC lifted its position in Palo Alto Networks by 50.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,968 shares of the network technology company’s stock worth $1,843,000 after buying an additional 2,668 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Palo Alto Networks by 5.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,079 shares of the network technology company’s stock valued at $1,868,000 after acquiring an additional 437 shares during the period. SeaCrest Wealth Management LLC lifted its holdings in shares of Palo Alto Networks by 6.1% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,286 shares of the network technology company’s stock worth $297,000 after acquiring an additional 74 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Palo Alto Networks by 27.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 702 shares of the network technology company’s stock worth $162,000 after purchasing an additional 150 shares during the period. Finally, CWM Advisors LLC grew its holdings in Palo Alto Networks by 6.5% during the 4th quarter. CWM Advisors LLC now owns 2,058 shares of the network technology company’s stock valued at $476,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 77.99% of the company’s stock.

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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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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