Palo Alto Networks (NYSE:PANW) had its target price boosted by Royal Bank of Canada to $250.00 in a report published on Friday, The Fly reports.

A number of other equities research analysts also recently issued reports on PANW. Deutsche Bank boosted their price target on Palo Alto Networks from $210.00 to $240.00 and gave the company a buy rating in a research report on Thursday, May 24th. Deutsche Bank boosted their price target on Palo Alto Networks from $210.00 to $240.00 and gave the company a buy rating in a research report on Thursday, May 24th. Barclays boosted their price target on Palo Alto Networks from $206.00 to $235.00 and gave the company an overweight rating in a research report on Wednesday, May 30th. Stifel Nicolaus boosted their price target on Palo Alto Networks from $200.00 to $240.00 and gave the company a buy rating in a research report on Wednesday, May 30th. Finally, BMO Capital Markets boosted their price objective on Palo Alto Networks from $190.00 to $220.00 and gave the stock a market perform rating in a research note on Thursday, May 31st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $234.19.

PANW stock traded up $7.24 during trading on Friday, reaching $227.61. 3,209,412 shares of the stock traded hands, compared to its average volume of 1,246,415. Palo Alto Networks has a 52-week low of $135.85 and a 52-week high of $234.35. The company has a market cap of $20.47 billion, a PE ratio of -413.84, a price-to-earnings-growth ratio of 19.69 and a beta of 0.83.

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

In related news, CFO Kathleen Bonanno sold 467 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $213.03, for a total value of $99,485.01. Following the transaction, the chief financial officer now owns 34,954 shares in the company, valued at $7,446,250.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stanley J. Meresman sold 1,979 shares of the business’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $212.17, for a total value of $419,884.43. Following the completion of the transaction, the director now owns 315,667 shares in the company, valued at approximately $66,975,067.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 242,662 shares of company stock worth $49,447,386. Insiders own 4.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its stake in shares of Palo Alto Networks by 193.7% in the second quarter. Bank of Montreal Can now owns 545,383 shares of the network technology company’s stock worth $112,061,000 after acquiring an additional 359,685 shares in the last quarter. Atria Investments LLC raised its stake in Palo Alto Networks by 37.0% during the second quarter. Atria Investments LLC now owns 3,289 shares of the network technology company’s stock valued at $676,000 after buying an additional 889 shares in the last quarter. Engineers Gate Manager LP raised its stake in Palo Alto Networks by 11.9% during the first quarter. Engineers Gate Manager LP now owns 40,984 shares of the network technology company’s stock valued at $7,439,000 after buying an additional 4,358 shares in the last quarter. IBM Retirement Fund acquired a new stake in Palo Alto Networks during the first quarter valued at approximately $480,000. Finally, Montecito Bank & Trust raised its stake in Palo Alto Networks by 69.7% during the second quarter. Montecito Bank & Trust now owns 1,887 shares of the network technology company’s stock valued at $388,000 after buying an additional 775 shares in the last quarter. Institutional investors and hedge funds own 81.59% of the company’s stock.

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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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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