Palo Alto Networks (NASDAQ:PANW) Given “Market Outperform” Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Palo Alto Networks (NASDAQ:PANWFree Report) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $380.00 price target on the network technology company’s stock.

A number of other research analysts also recently weighed in on PANW. Wedbush reaffirmed an outperform rating and issued a $375.00 target price on shares of Palo Alto Networks in a research report on Tuesday. Mizuho decreased their target price on shares of Palo Alto Networks from $405.00 to $350.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Oppenheimer reaffirmed an outperform rating and issued a $330.00 target price on shares of Palo Alto Networks in a research report on Tuesday. Rosenblatt Securities downgraded shares of Palo Alto Networks from a buy rating to a neutral rating and decreased their target price for the company from $290.00 to $265.00 in a research report on Wednesday, February 21st. Finally, Redburn Atlantic increased their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Twelve investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of Moderate Buy and a consensus price target of $317.45.

View Our Latest Stock Analysis on Palo Alto Networks

Palo Alto Networks Trading Up 0.9 %

Shares of NASDAQ PANW opened at $311.44 on Tuesday. Palo Alto Networks has a 1-year low of $194.08 and a 1-year high of $380.84. The company has a market cap of $100.84 billion, a PE ratio of 45.27, a P/E/G ratio of 5.03 and a beta of 1.18. The company has a 50-day moving average of $289.58 and a two-hundred day moving average of $299.15.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last announced its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. As a group, equities research analysts forecast that Palo Alto Networks will post 2.77 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 121,276 shares of Palo Alto Networks stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the sale, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $49,895,983.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares in the company, valued at approximately $7,629,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 121,276 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the completion of the transaction, the executive vice president now owns 166,542 shares in the company, valued at approximately $49,895,983.20. The disclosure for this sale can be found here. Insiders have sold a total of 278,326 shares of company stock worth $80,147,130 in the last ninety days. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Frank Rimerman Advisors LLC bought a new stake in Palo Alto Networks during the 4th quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. increased its stake in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares in the last quarter. Webster Bank N. A. increased its stake in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC increased its stake in Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares in the last quarter. Finally, Ulland Investment Advisors LLC bought a new stake in Palo Alto Networks during the 1st quarter valued at $30,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

About Palo Alto Networks

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Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.

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Analyst Recommendations for Palo Alto Networks (NASDAQ:PANW)

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