Robert W. Baird Increases Palo Alto Networks (NASDAQ:PANW) Price Target to $235.00

Palo Alto Networks (NASDAQ:PANW – Get Rating) had its price target boosted by analysts at Robert W. Baird from $230.00 to $235.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the network technology company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 12.99% from the company’s previous close.

A number of other research analysts also recently issued reports on PANW. Capital One Financial started coverage on Palo Alto Networks in a research report on Friday, May 12th. They set an “overweight” rating and a $247.00 target price on the stock. UBS Group upped their target price on Palo Alto Networks from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup increased their price target on Palo Alto Networks from $195.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, February 22nd. Royal Bank of Canada increased their price objective on Palo Alto Networks from $216.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, BTIG Research increased their price objective on Palo Alto Networks from $240.00 to $253.00 and gave the stock a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $232.19.

Palo Alto Networks Stock Up 1.8 %

PANW stock opened at $207.98 on Wednesday. Palo Alto Networks has a twelve month low of $132.22 and a twelve month high of $208.87. The company has a market cap of $62.94 billion, a price-to-earnings ratio of 330.13, a P/E/G ratio of 5.03 and a beta of 1.17. The business has a 50 day moving average price of $192.20 and a two-hundred day moving average price of $178.00.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The network technology company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.22. Palo Alto Networks had a return on equity of 69.46% and a net margin of 3.32%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. On average, equities research analysts anticipate that Palo Alto Networks will post 1.2 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 13,800 shares of the business’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $201.42, for a total transaction of $2,779,596.00. Following the sale, the chief executive officer now owns 1,177,193 shares in the company, valued at $237,110,214.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $187.20, for a total transaction of $6,739,200.00. Following the completion of the sale, the executive vice president now owns 1,774,898 shares of the company’s stock, valued at $332,260,905.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikesh Arora sold 13,800 shares of Palo Alto Networks stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $201.42, for a total value of $2,779,596.00. Following the sale, the chief executive officer now directly owns 1,177,193 shares of the company’s stock, valued at approximately $237,110,214.06. The disclosure for this sale can be found here. Insiders have sold 267,330 shares of company stock worth $50,478,046 over the last quarter. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Palo Alto Networks

A number of institutional investors and hedge funds have recently modified their holdings of PANW. Nisa Investment Advisors LLC lifted its holdings in Palo Alto Networks by 186.0% in the third quarter. Nisa Investment Advisors LLC now owns 33,658 shares of the network technology company’s stock valued at $5,520,000 after acquiring an additional 21,890 shares during the period. Ropes Wealth Advisors LLC raised its stake in shares of Palo Alto Networks by 9.8% during the 4th quarter. Ropes Wealth Advisors LLC now owns 1,674 shares of the network technology company’s stock worth $234,000 after buying an additional 150 shares during the period. Aviva PLC raised its stake in shares of Palo Alto Networks by 285.4% during the 3rd quarter. Aviva PLC now owns 52,833 shares of the network technology company’s stock worth $8,654,000 after buying an additional 39,124 shares during the period. Greenleaf Trust raised its stake in shares of Palo Alto Networks by 204.4% during the 3rd quarter. Greenleaf Trust now owns 2,094 shares of the network technology company’s stock worth $343,000 after buying an additional 1,406 shares during the period. Finally, Kestra Private Wealth Services LLC raised its stake in shares of Palo Alto Networks by 2.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 9,506 shares of the network technology company’s stock worth $1,327,000 after buying an additional 255 shares during the period. Institutional investors and hedge funds own 81.82% of the company’s stock.

Palo Alto Networks Company Profile

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.