Palo Alto Networks (NASDAQ:PANW) Price Target Increased to $334.00 by Analysts at BMO Capital Markets

Palo Alto Networks (NASDAQ:PANW) had its target price boosted by BMO Capital Markets from $327.00 to $334.00 in a report issued on Tuesday, Benzinga reports. They currently have an outperform rating on the network technology company’s stock.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Palo Alto Networks from $330.00 to $340.00 and gave the company an overweight rating in a report on Thursday, May 16th. Morgan Stanley reissued an overweight rating and set a $360.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 15th. Redburn Atlantic increased their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Scotiabank lowered their target price on Palo Alto Networks from $363.00 to $337.00 and set a sector outperform rating for the company in a research note on Wednesday, February 21st. Finally, Westpark Capital reaffirmed a hold rating on shares of Palo Alto Networks in a research report on Monday, January 29th. Twelve analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of Moderate Buy and an average target price of $321.39.

Palo Alto Networks Stock Up 3.3 %

Shares of NASDAQ:PANW opened at $321.60 on Tuesday. The company’s fifty day moving average is $290.37 and its two-hundred day moving average is $299.74. The company has a market cap of $104.13 billion, a P/E ratio of 46.74, a price-to-earnings-growth ratio of 5.04 and a beta of 1.18. Palo Alto Networks has a 12-month low of $201.17 and a 12-month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. Equities research analysts anticipate that Palo Alto Networks will post 2.79 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at approximately $7,629,160. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 121,276 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at $49,895,983.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 278,326 shares of company stock valued at $80,147,130. 3.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palo Alto Networks

Several hedge funds have recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC bought a new position in Palo Alto Networks during the 4th quarter worth $27,000. Webster Bank N. A. boosted its holdings in Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares during the last quarter. Financial Synergies Wealth Advisors Inc. increased its position in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares during the period. Cedar Mountain Advisors LLC raised its holdings in Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares during the last quarter. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $30,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

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.