Palo Alto Networks Inc (NYSE:PANW) shares gapped up before the market opened on Tuesday after Imperial Capital raised their price target on the stock from $175.00 to $200.00. The stock had previously closed at $167.68, but opened at $173.24. Imperial Capital currently has an outperform rating on the stock. Palo Alto Networks shares last traded at $173.24, with a volume of 6557633 shares trading hands.
PANW has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Piper Jaffray Companies set a $155.00 price target on shares of Palo Alto Networks and gave the company a “buy” rating in a research report on Sunday, November 12th. Oppenheimer reiterated a “buy” rating and issued a $173.00 price target on shares of Palo Alto Networks in a research report on Tuesday, November 14th. Evercore ISI set a $145.00 price target on shares of Palo Alto Networks and gave the company a “hold” rating in a research report on Thursday, November 16th. Finally, BMO Capital Markets increased their price target on shares of Palo Alto Networks from $160.00 to $170.00 and gave the company a “market perform” rating in a research report on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirty-eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $179.56.
In other news, CEO Mark D. Mclaughlin sold 5,000 shares of Palo Alto Networks stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. Following the completion of the sale, the chief executive officer now owns 323,610 shares of the company’s stock, valued at $51,777,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Mark Anderson sold 15,614 shares of Palo Alto Networks stock in a transaction on Monday, December 4th. The stock was sold at an average price of $144.16, for a total value of $2,250,914.24. Following the sale, the president now directly owns 186,413 shares of the company’s stock, valued at approximately $26,873,298.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 352,217 shares of company stock valued at $52,688,992. Company insiders own 4.80% of the company’s stock.
The company has a market capitalization of $15,930.00, a price-to-earnings ratio of -77.40 and a beta of 1.04.
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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.
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