Palo Alto Networks, Inc. (PANW) PT Set at $175.00 by Northland Securities
Palo Alto Networks, Inc. (NYSE:PANW) received a $175.00 target price from equities researchers at Northland Securities in a report released on Wednesday. The brokerage currently has a “buy” rating on the network technology company’s stock. Northland Securities’ price objective points to a potential upside of 16.91% from the company’s current price.
A number of other analysts also recently weighed in on PANW. Evercore ISI reissued an “in-line” rating and issued a $145.00 price target (up from $140.00) on shares of Palo Alto Networks in a report on Friday, September 1st. UBS AG reissued a “neutral” rating and set a $146.00 price target (up from $140.00) on shares of Palo Alto Networks in a report on Friday, September 1st. Vetr raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $140.90 price target for the company in a report on Monday, July 3rd. Wells Fargo & Company restated an “outperform” rating and issued a $185.00 price objective (up previously from $180.00) on shares of Palo Alto Networks in a research report on Friday, September 1st. Finally, Maxim Group restated a “buy” rating and issued a $195.00 price objective (up previously from $168.00) on shares of Palo Alto Networks in a research report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty-one have assigned a buy rating to the stock. Palo Alto Networks has a consensus rating of “Buy” and a consensus price target of $160.33.
Shares of Palo Alto Networks (PANW) traded down 0.2119% on Wednesday, hitting $149.3728. The company had a trading volume of 191,741 shares. The company has a 50-day moving average of $143.90 and a 200 day moving average of $130.67. The stock’s market cap is $13.72 billion. Palo Alto Networks has a 12 month low of $107.31 and a 12 month high of $165.69.
Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The firm had revenue of $509.00 million during the quarter, compared to analysts’ expectations of $487.53 million. During the same quarter last year, the company posted $0.50 EPS. The firm’s revenue was up 27.0% compared to the same quarter last year. Analysts anticipate that Palo Alto Networks will post $3.33 EPS for the current fiscal year.
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In other Palo Alto Networks news, Director Carl M. Eschenbach sold 1,572 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $144.99, for a total transaction of $227,924.28. Following the transaction, the director now directly owns 3,619 shares in the company, valued at $524,718.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark D. Mclaughlin sold 35,000 shares of the company’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $149.70, for a total value of $5,239,500.00. The disclosure for this sale can be found here. Insiders sold 254,744 shares of company stock valued at $37,804,516 over the last quarter. 4.80% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in PANW. American Century Companies Inc. lifted its stake in Palo Alto Networks by 512.7% during the second quarter. American Century Companies Inc. now owns 1,747,339 shares of the network technology company’s stock worth $233,811,000 after purchasing an additional 1,462,162 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in shares of Palo Alto Networks by 13,115.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,172,176 shares of the network technology company’s stock valued at $8,760,000 after acquiring an additional 1,163,306 shares in the last quarter. Northern Trust Corp raised its stake in shares of Palo Alto Networks by 109.9% in the second quarter. Northern Trust Corp now owns 1,142,533 shares of the network technology company’s stock valued at $152,883,000 after acquiring an additional 598,115 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Palo Alto Networks by 5,177.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 496,610 shares of the network technology company’s stock valued at $55,958,000 after acquiring an additional 487,200 shares in the last quarter. Finally, ETF Managers Group LLC acquired a new stake in shares of Palo Alto Networks in the second quarter valued at $48,287,000. Institutional investors own 76.96% of the company’s stock.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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