Palo Alto Networks (NYSE:PANW) Price Target Raised to $265.00 at Oppenheimer

Palo Alto Networks (NYSE:PANW) had its price objective boosted by Oppenheimer from $225.00 to $265.00 in a research note issued to investors on Friday, AnalystRatings.com reports. Oppenheimer currently has an outperform rating on the network technology company’s stock.

Several other research firms also recently commented on PANW. Credit Suisse Group raised Palo Alto Networks from an underperform rating to a neutral rating and set a $190.00 price objective for the company in a report on Thursday, April 23rd. Mizuho lifted their price objective on shares of Palo Alto Networks from $240.00 to $265.00 and gave the company a buy rating in a research report on Friday. BTIG Research assumed coverage on shares of Palo Alto Networks in a research note on Friday, March 27th. They set a neutral rating on the stock. Wedbush cut their target price on shares of Palo Alto Networks from $275.00 to $240.00 and set an outperform rating for the company in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada boosted their price target on Palo Alto Networks from $175.00 to $225.00 and gave the stock a sector perform rating in a research report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Palo Alto Networks has an average rating of Buy and an average target price of $254.48.

Shares of Palo Alto Networks stock traded up $8.43 during trading hours on Friday, reaching $237.93. 4,098,348 shares of the company’s stock were exchanged, compared to its average volume of 1,345,703. The company has a 50 day moving average of $195.88 and a two-hundred day moving average of $214.24. Palo Alto Networks has a fifty-two week low of $125.47 and a fifty-two week high of $251.10. 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 stock has a market cap of $22.88 billion, a P/E ratio of -100.82 and a beta of 1.14.

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

In related news, Director John Donovan purchased 8,102 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average price of $185.35 per share, for a total transaction of $1,501,705.70. Following the completion of the transaction, the director now owns 11,222 shares of the company’s stock, valued at $2,079,997.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $194.20, for a total value 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. Corporate insiders own 2.30% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Howard Wealth Management LLC bought a new position in Palo Alto Networks in the fourth quarter valued at approximately $25,000. Keebeck Wealth Management LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at $37,000. Advisory Alpha LLC increased its stake in shares of Palo Alto Networks by 1,153.8% in the 4th quarter. Advisory Alpha LLC now owns 163 shares of the network technology company’s stock valued at $39,000 after purchasing an additional 150 shares during the last quarter. Clean Yield Group acquired a new position in shares of Palo Alto Networks during the 1st quarter worth $30,000. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of Palo Alto Networks by 74.8% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 187 shares of the network technology company’s stock worth $43,000 after buying an additional 80 shares during the last quarter. 77.99% of the stock is owned by institutional investors.

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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