Palo Alto Networks Inc (NYSE:PANW) Receives $262.65 Average Price Target from Analysts

Shares of Palo Alto Networks Inc (NYSE:PANW) have received an average rating of “Buy” from the thirty-six ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, twenty-five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $262.65.

PANW has been the subject of a number of research analyst reports. Credit Suisse Group reiterated a “buy” rating and issued a $241.00 target price on shares of FedEx in a research note on Thursday, May 30th. BMO Capital Markets upgraded shares of Tourmaline Oil from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 30th. Barclays upgraded shares of Encompass Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $68.00 to $70.00 in a research note on Thursday, May 30th. Deutsche Bank set a $18.00 target price on shares of Commercial Metals and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $265.00 target price (down previously from $280.00) on shares of Palo Alto Networks in a research note on Thursday, May 30th.

NYSE PANW traded down $0.72 during trading on Friday, reaching $216.94. 799,037 shares of the company traded hands, compared to its average volume of 1,104,810. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a 50 day moving average price of $205.69. The firm has a market capitalization of $20.89 billion, a P/E ratio of -394.44, a price-to-earnings-growth ratio of 10.68 and a beta of 0.91. Palo Alto Networks has a 1-year low of $160.08 and a 1-year high of $260.63.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Wednesday, May 29th. The network technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Palo Alto Networks had a negative net margin of 2.30% and a positive return on equity of 5.42%. The firm had revenue of $726.60 million during the quarter, compared to the consensus estimate of $704.89 million. During the same quarter last year, the firm posted $0.99 EPS. The business’s revenue was up 28.0% on a year-over-year basis. Equities research analysts forecast that Palo Alto Networks will post 0.87 earnings per share for the current fiscal year.

In other Palo Alto Networks news, EVP Nir Zuk sold 30,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $247.28, for a total transaction of $7,418,400.00. Following the completion of the sale, the executive vice president now owns 968,243 shares in the company, valued at approximately $239,427,129.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen Bonanno sold 7,210 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $200.00, for a total transaction of $1,442,000.00. Following the sale, the chief financial officer now owns 31,796 shares of the company’s stock, valued at approximately $6,359,200. The disclosure for this sale can be found here. Insiders sold a total of 201,172 shares of company stock valued at $44,058,169 in the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. increased its stake in shares of Palo Alto Networks by 59.1% in the 4th quarter. Advisors Asset Management Inc. now owns 10,967 shares of the network technology company’s stock worth $2,066,000 after acquiring an additional 4,074 shares during the last quarter. Comerica Securities Inc. grew its holdings in shares of Palo Alto Networks by 3.5% during the 4th quarter. Comerica Securities Inc. now owns 3,103 shares of the network technology company’s stock worth $584,000 after purchasing an additional 105 shares during the period. Eagle Asset Management Inc. purchased a new position in shares of Palo Alto Networks during the 4th quarter worth $360,000. State of Tennessee Treasury Department purchased a new position in shares of Palo Alto Networks during the 4th quarter worth $4,825,000. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in shares of Palo Alto Networks by 6.8% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 15,785 shares of the network technology company’s stock worth $2,601,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 79.04% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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