Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $435.00

Palo Alto Networks (NASDAQ:PANW) had its price target increased by Susquehanna from $420.00 to $435.00 in a report published on Thursday, Marketbeat reports. Susquehanna currently has a positive rating on the network technology company’s stock.

Several other research analysts have also issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Palo Alto Networks from $385.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their price target on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Scotiabank raised their target price on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. UBS Group boosted their price target on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Evercore ISI lifted their price objective on shares of Palo Alto Networks from $395.00 to $455.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $402.03.

Palo Alto Networks Stock Down 3.6 %

PANW stock opened at $383.36 on Thursday. The company has a 50-day simple moving average of $364.32 and a 200 day simple moving average of $339.89. The company has a market capitalization of $124.82 billion, a P/E ratio of 49.92, a PEG ratio of 5.76 and a beta of 1.12. Palo Alto Networks has a fifty-two week low of $260.09 and a fifty-two week high of $408.53.

Shares of Palo Alto Networks are set to split before the market opens on Monday, December 16th. The 2-1 split was announced on Wednesday, November 20th. The newly created shares will be issued to shareholders after the closing bell on Friday, December 13th.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Wednesday, November 20th. The network technology company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.08. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. Equities analysts anticipate that Palo Alto Networks will post 3.57 EPS for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the sale, the director now owns 31,517 shares in the company, valued at $10,983,359.33. The trade was a 24.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the transaction, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,252 shares of company stock worth $89,041,637 in the last ninety days. Insiders own 2.50% of the company’s stock.

Institutional Trading of Palo Alto Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks in the 1st quarter valued at approximately $25,000. Capital Advisors Ltd. LLC grew its holdings in shares of Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after purchasing an additional 41 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its position in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 55 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in Palo Alto Networks during the third quarter worth about $29,000. Institutional investors own 79.82% of the company’s stock.

About Palo Alto Networks

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.