Palo Alto Networks (NYSE:PANW) had its target price lifted by equities researchers at Telsey Advisory Group from $165.00 to $175.00 in a research report issued to clients and investors on Wednesday, November 22nd, MarketBeat Ratings reports.
The firm presently has an “outperform” rating on the network technology company’s stock.
Telsey Advisory Group’s target price would indicate a potential upside of 21.62% from the company’s current price.
PANW has been the subject of a number of other research reports.
BidaskClub lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Vetr raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $138.40 price objective for the company in a report on Monday, July 31st. ValuEngine raised shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a report on Saturday, August 12th.
Imperial Capital reissued an “outperform” rating and issued a $137.00 price objective on shares of Palo Alto Networks in a report on Friday, August 18th. Finally, Piper Jaffray Companies set a $146.00 target price on shares of Palo Alto Networks and gave the company a “buy” rating in a research report on Friday, August 25th.
Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-three have issued a buy rating to the company.
The stock has a consensus rating of “Buy” and a consensus target price of $162.84.
Palo Alto Networks (NYSE:PANW) traded up $1.06 during trading on Wednesday, hitting $143.89. 1,111,266 shares of the stock were exchanged, compared to its average volume of 2,042,402. Palo Alto Networks has a fifty-two week low of $107.31 and a fifty-two week high of $157.65.
Palo Alto Networks (NYSE:PANW) last released its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%.
The business had revenue of $505.50 million during the quarter, compared to analyst estimates of $489.36 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share.
The company’s revenue for the quarter was up 27.0% compared to the same quarter last year.
Equities research analysts forecast that Palo Alto Networks will post -0.37 EPS for the current fiscal year.
In related news, EVP Nir Zuk sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $144.28, for a total transaction of $288,560.00.
The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Mark Anderson sold 15,614 shares of the business’s stock in a transaction that occurred 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 transaction, the president now directly owns 186,413 shares in the company, valued at $26,873,298.08.
The disclosure for this sale can be found here. Insiders have sold a total of 345,213 shares of company stock worth $51,243,441 over the last three months. 4.80% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in PANW.
American Century Companies Inc. raised its position in shares of Palo Alto Networks by 512.7% in the 2nd quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock valued at $233,811,000 after purchasing an additional 1,462,162 shares in the last quarter.
Harbour Capital Advisors LLC raised its position in shares of Palo Alto Networks by 13,115.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock valued at $8,760,000 after purchasing an additional 1,163,306 shares in the last quarter. Northern Trust Corp raised its position in shares of Palo Alto Networks by 109.9% in the 2nd quarter.
Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock valued at $152,883,000 after purchasing an additional 598,115 shares in the last quarter.
ETF Managers Group LLC acquired a new position in shares of Palo Alto Networks in the 2nd quarter valued at approximately $48,287,000. Finally, Sirios Capital Management L P acquired a new position in shares of Palo Alto Networks in the 2nd quarter valued at approximately $40,567,000. 79.98% of the stock is currently owned by institutional investors.
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.