Analysts Set Palo Alto Networks Inc (PANW) PT at $165.46

Shares of Palo Alto Networks Inc (NYSE:PANW) have received a consensus recommendation of “Buy” from the forty-six research firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $165.46.

Several research analysts have issued reports on the company. Zacks Investment Research raised Palo Alto Networks from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research report on Tuesday, November 28th. Jefferies Group reissued a “buy” rating and issued a $183.00 target price (up from $168.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. Piper Jaffray Companies reissued an “overweight” rating and issued a $173.00 target price (up from $155.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. Royal Bank of Canada raised their target price on Palo Alto Networks from $159.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 21st. Finally, Maxim Group reissued a “buy” rating and issued a $195.00 target price (up from $168.00) on shares of Palo Alto Networks in a research report on Thursday, September 28th.

In related news, CMO Rene Bonvanie sold 16,596 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $151.83, for a total value of $2,519,770.68. Following the transaction, the chief marketing officer now directly owns 95,584 shares of the company’s stock, valued at approximately $14,512,518.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James J. Goetz sold 68,000 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $146.85, for a total value of $9,985,800.00. Following the completion of the transaction, the director now directly owns 203,645 shares in the company, valued at $29,905,268.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 559,387 shares of company stock worth $83,054,580. 4.80% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC increased its stake in Palo Alto Networks by 12.6% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 105,008 shares of the network technology company’s stock worth $15,132,000 after acquiring an additional 11,774 shares during the last quarter. AXA increased its stake in Palo Alto Networks by 12.0% in the 3rd quarter. AXA now owns 119,513 shares of the network technology company’s stock worth $17,222,000 after acquiring an additional 12,826 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Palo Alto Networks in the 3rd quarter worth approximately $717,000. Public Employees Retirement System of Ohio increased its stake in Palo Alto Networks by 31.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 52,196 shares of the network technology company’s stock worth $7,521,000 after acquiring an additional 12,605 shares during the last quarter. Finally, IFM Investors Pty Ltd bought a new stake in Palo Alto Networks in the 3rd quarter worth approximately $366,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks (NYSE:PANW) traded up $3.71 during midday trading on Tuesday, reaching $152.97. The company had a trading volume of 1,407,554 shares, compared to its average volume of 1,031,714. Palo Alto Networks has a 52 week low of $107.31 and a 52 week high of $157.65. The company has a market cap of $14,060.00, a P/E ratio of -62.18 and a beta of 0.99.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.06. The business had revenue of $505.50 million for the quarter, compared to analysts’ expectations of $489.36 million. Palo Alto Networks had a negative return on equity of 15.77% and a negative net margin of 11.97%. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. sell-side analysts anticipate that Palo Alto Networks will post -0.37 EPS for the current fiscal year.

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Palo Alto Networks Company Profile

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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