Imperial Capital Increases Palo Alto Networks, Inc. (PANW) Price Target to $175.00
Palo Alto Networks, Inc. (NYSE:PANW) had its price objective lifted by investment analysts at Imperial Capital from $165.00 to $175.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “outperform” rating on the network technology company’s stock. Imperial Capital’s price objective points to a potential upside of 17.14% from the stock’s previous close.
Other equities analysts have also issued research reports about the stock. Piper Jaffray Companies set a $146.00 price target on shares of Palo Alto Networks and gave the stock a “buy” rating in a research report on Friday, August 25th. BidaskClub lowered shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $173.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, November 14th. Maxim Group restated a “buy” rating and set a $195.00 price objective (up previously from $168.00) on shares of Palo Alto Networks in a research report on Thursday, September 28th. Finally, Evercore ISI set a $145.00 price target on shares of Palo Alto Networks and gave the stock a “hold” rating in a research report on Thursday, November 16th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirty-two have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $162.72.
Shares of Palo Alto Networks (PANW) traded up $6.87 during midday trading on Wednesday, reaching $149.40. 9,120,900 shares of the company traded hands, compared to its average volume of 1,781,034. Palo Alto Networks has a one year low of $107.31 and a one year high of $157.65. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.65 and a quick ratio of 1.65.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.05%. The business had revenue of $505.50 million during the quarter, compared to analyst estimates of $489.36 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. equities analysts forecast that Palo Alto Networks will post -0.5 earnings per share for the current year.
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In other news, President Mark Anderson sold 44,429 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $143.10, for a total value of $6,357,789.90. Following the completion of the transaction, the president now directly owns 176,290 shares in the company, valued at $25,227,099. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nir Zuk sold 28,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $148.05, for a total transaction of $4,145,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 284,744 shares of company stock valued at $42,239,296. 4.80% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in PANW. First Trust Advisors LP raised its holdings in Palo Alto Networks by 55.1% during the 3rd quarter. First Trust Advisors LP now owns 204,302 shares of the network technology company’s stock worth $29,440,000 after purchasing an additional 72,573 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Palo Alto Networks by 32.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 95,049 shares of the network technology company’s stock worth $12,719,000 after purchasing an additional 23,292 shares in the last quarter. Synovus Financial Corp raised its position in Palo Alto Networks by 17.3% in the second quarter. Synovus Financial Corp now owns 14,361 shares of the network technology company’s stock valued at $1,919,000 after purchasing an additional 2,122 shares during the last quarter. Cambridge Trust Co. grew its stake in Palo Alto Networks by 48.5% during the third quarter. Cambridge Trust Co. now owns 137,115 shares of the network technology company’s stock worth $19,758,000 after purchasing an additional 44,759 shares during the period. Finally, Trellus Management Company LLC purchased a new position in shares of Palo Alto Networks during the third quarter valued at approximately $461,000. 78.34% of the stock is owned by institutional investors and hedge funds.
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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