Maxim Group Boosts Palo Alto Networks (PANW) Price Target to $280.00

Palo Alto Networks (NYSE:PANW) had its price target upped by Maxim Group from $274.00 to $280.00 in a report issued on Friday, Marketbeat reports. Maxim Group currently has a buy rating on the network technology company’s stock.

Several other equities research analysts have also recently issued reports on PANW. ValuEngine raised shares of Palo Alto Networks from a buy rating to a strong-buy rating in a research report on Friday, August 3rd. Zacks Investment Research cut shares of Palo Alto Networks from a hold rating to a sell rating in a research report on Tuesday, August 7th. Raymond James raised their target price on shares of Palo Alto Networks from $240.00 to $254.00 and gave the stock an outperform rating in a research report on Wednesday, September 5th. Evercore ISI reissued a buy rating and issued a $270.00 target price on shares of Palo Alto Networks in a research report on Friday, September 7th. Finally, Jefferies Financial Group raised their target price on shares of Palo Alto Networks to $267.00 and gave the stock a buy rating in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $240.26.

PANW opened at $172.95 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.93 and a current ratio of 1.93. Palo Alto Networks has a 1 year low of $140.12 and a 1 year high of $239.50. The company has a market capitalization of $16.31 billion, a P/E ratio of -314.45, a P/E/G ratio of 12.15 and a beta of 1.22.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Thursday, November 29th. The network technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Palo Alto Networks had a negative net margin of 5.04% and a negative return on equity of 1.99%. The business had revenue of $656.00 million for the quarter, compared to analysts’ expectations of $632.16 million. During the same period last year, the company earned $0.74 earnings per share. The company’s quarterly revenue was up 30.7% on a year-over-year basis. As a group, equities research analysts anticipate that Palo Alto Networks will post 0.61 EPS for the current year.

In other news, President Mark Anderson sold 30,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $231.92, for a total transaction of $6,957,600.00. Following the sale, the president now owns 140,841 shares in the company, valued at $32,663,844.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 8,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $231.91, for a total transaction of $1,855,280.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 284,711 shares of company stock worth $62,090,136. 3.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Belpointe Asset Management LLC purchased a new stake in shares of Palo Alto Networks during the third quarter valued at approximately $130,000. Vanguard Group Inc. raised its stake in shares of Palo Alto Networks by 1.2% during the third quarter. Vanguard Group Inc. now owns 7,709,183 shares of the network technology company’s stock valued at $1,736,571,000 after purchasing an additional 94,743 shares during the period. Morgan Stanley raised its stake in shares of Palo Alto Networks by 5.4% during the third quarter. Morgan Stanley now owns 1,433,131 shares of the network technology company’s stock valued at $322,827,000 after purchasing an additional 73,391 shares during the period. Legal & General Group Plc raised its stake in shares of Palo Alto Networks by 1.2% during the third quarter. Legal & General Group Plc now owns 471,811 shares of the network technology company’s stock valued at $106,280,000 after purchasing an additional 5,639 shares during the period. Finally, Kepos Capital LP purchased a new stake in shares of Palo Alto Networks during the third quarter valued at approximately $6,485,000. Institutional investors own 81.73% 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.

Further Reading: Diversification in Investing

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit