Palo Alto Networks (PANW) PT Set at $180.00 by Evercore ISI
Palo Alto Networks (NYSE:PANW) has been assigned a $180.00 target price by investment analysts at Evercore ISI in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the network technology company’s stock. Evercore ISI’s target price points to a potential upside of 14.73% from the stock’s current price.
Several other analysts also recently commented on the company. William Blair raised Palo Alto Networks from a “market perform” rating to an “outperform” rating in a research note on Monday, December 4th. Zacks Investment Research downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. FBN Securities raised Palo Alto Networks from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, November 21st. BidaskClub downgraded Palo Alto Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Finally, Goldman Sachs Group downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and set a $168.00 price objective on the stock. in a research note on Monday, January 22nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and thirty-four have assigned a buy rating to the company’s stock. Palo Alto Networks presently has a consensus rating of “Buy” and a consensus price target of $167.39.
Palo Alto Networks (NYSE PANW) opened at $156.89 on Wednesday. The firm has a market capitalization of $14,265.76, a price-to-earnings ratio of -63.78 and a beta of 1.04. Palo Alto Networks has a 12 month low of $107.31 and a 12 month high of $160.83.
In other news, CEO Mark D. Mclaughlin sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $149.85, for a total value of $3,746,250.00. Following the completion of the transaction, the chief executive officer now owns 374,919 shares in the company, valued at approximately $56,181,612.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nir Zuk sold 2,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $144.28, for a total value of $288,560.00. The disclosure for this sale can be found here. Insiders sold a total of 396,644 shares of company stock valued at $59,381,588 in the last 90 days. 4.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in Palo Alto Networks by 18.4% during the fourth quarter. Renaissance Technologies LLC now owns 4,379,100 shares of the network technology company’s stock worth $634,707,000 after purchasing an additional 681,200 shares during the period. American Century Companies Inc. grew its holdings in Palo Alto Networks by 36.0% during the third quarter. American Century Companies Inc. now owns 2,376,862 shares of the network technology company’s stock worth $342,506,000 after purchasing an additional 629,523 shares during the period. Frontier Capital Management Co. LLC bought a new position in Palo Alto Networks during the fourth quarter worth about $70,582,000. Old Mutual Global Investors UK Ltd. bought a new position in Palo Alto Networks during the fourth quarter worth about $45,074,000. Finally, Ameriprise Financial Inc. grew its holdings in Palo Alto Networks by 35.5% during the third quarter. Ameriprise Financial Inc. now owns 1,068,289 shares of the network technology company’s stock worth $153,798,000 after purchasing an additional 279,602 shares during the period. Institutional investors own 79.18% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.thecerbatgem.com/2018/02/14/palo-alto-networks-panw-pt-set-at-180-00-by-evercore-isi.html.
About Palo Alto Networks
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.
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.