Palo Alto Networks (NYSE:PANW) had its target price hoisted by Piper Jaffray Companies to $250.00 in a research note released on Friday, The Fly reports. The firm currently has an overweight rating on the network technology company’s stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada increased their target price on Palo Alto Networks to $220.00 and gave the company an outperform rating in a research note on Wednesday, May 23rd. Deutsche Bank increased their target price on Palo Alto Networks from $210.00 to $240.00 and gave the company a buy rating in a research note on Thursday, May 24th. Deutsche Bank increased their target price on Palo Alto Networks from $210.00 to $240.00 and gave the company a buy rating in a research note on Thursday, May 24th. Barclays increased their target price on Palo Alto Networks from $206.00 to $235.00 and gave the company an overweight rating in a research note on Wednesday, May 30th. Finally, Stifel Nicolaus increased their target price on Palo Alto Networks from $200.00 to $240.00 and gave the company a buy rating in a research note on Wednesday, May 30th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. Palo Alto Networks currently has an average rating of Buy and an average target price of $234.19.

NYSE PANW traded up $7.24 on Friday, reaching $227.61. The company had a trading volume of 3,209,412 shares, compared to its average volume of 1,246,415. The stock has a market cap of $20.47 billion, a PE ratio of -413.84, a P/E/G ratio of 19.69 and a beta of 0.83. Palo Alto Networks has a 1 year low of $135.85 and a 1 year high of $234.35.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Thursday, September 6th. The network technology company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.11. The firm had revenue of $658.10 million during the quarter, compared to analysts’ expectations of $634.14 million. Palo Alto Networks had a negative return on equity of 4.57% and a negative net margin of 6.51%. Palo Alto Networks’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 EPS. equities analysts anticipate that Palo Alto Networks will post 0.48 EPS for the current fiscal year.

In other news, CEO Nikesh Arora acquired 15,750 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, June 13th. The shares were purchased at an average cost of $212.23 per share, for a total transaction of $3,342,622.50. Following the completion of the purchase, the chief executive officer now directly owns 232,152 shares of the company’s stock, valued at approximately $49,269,618.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Mark Anderson sold 30,000 shares of the stock in a transaction on Monday, June 11th. The stock was sold at an average price of $199.44, for a total value of $5,983,200.00. Following the completion of the sale, the president now directly owns 173,441 shares in the company, valued at $34,591,073.04. The disclosure for this sale can be found here. Insiders have sold 242,662 shares of company stock worth $49,447,386 over the last 90 days. 4.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PANW. DekaBank Deutsche Girozentrale increased its position in Palo Alto Networks by 241.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 41,647 shares of the network technology company’s stock worth $7,470,000 after buying an additional 29,435 shares during the period. Sandy Spring Bank increased its position in Palo Alto Networks by 473.7% in the first quarter. Sandy Spring Bank now owns 2,725 shares of the network technology company’s stock worth $495,000 after buying an additional 2,250 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Palo Alto Networks by 16.9% in the first quarter. Robeco Institutional Asset Management B.V. now owns 113,354 shares of the network technology company’s stock worth $20,575,000 after buying an additional 16,407 shares during the period. Chicago Equity Partners LLC acquired a new stake in Palo Alto Networks in the first quarter worth $4,412,000. Finally, Columbia Asset Management acquired a new stake in Palo Alto Networks in the first quarter worth $209,000. 81.59% of the stock is currently owned by hedge funds and other institutional investors.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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