Palo Alto Networks (PANW) Price Target Raised to $220.00
Palo Alto Networks (NYSE:PANW) had its price target hoisted by JPMorgan Chase & Co. to $220.00 in a research report released on Tuesday, The Fly reports. They currently have an overweight rating on the network technology company’s stock.
Several other equities research analysts have also recently issued reports on PANW. BMO Capital Markets lifted their price objective on Palo Alto Networks from $170.00 to $190.00 and gave the stock a market perform rating in a report on Tuesday. Barclays lifted their price objective on Palo Alto Networks from $173.00 to $206.00 and gave the stock an overweight rating in a report on Tuesday. Cleveland Research upgraded Palo Alto Networks from a neutral rating to a buy rating in a report on Thursday, February 22nd. Piper Jaffray Companies restated an overweight rating and set a $173.00 target price (up from $155.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. Finally, Oppenheimer restated a buy rating and set a $180.00 target price (up from $173.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-eight have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $180.63.
Shares of Palo Alto Networks (PANW) opened at $176.77 on Tuesday. Palo Alto Networks has a twelve month low of $107.31 and a twelve month high of $179.15. The stock has a market capitalization of $16,240.00, a PE ratio of -78.92 and a beta of 0.91.
A number of hedge funds and other institutional investors have recently made changes to their positions in PANW. Cerebellum GP LLC purchased a new stake in Palo Alto Networks in the fourth quarter valued at approximately $127,000. Penserra Capital Management LLC purchased a new stake in Palo Alto Networks in the third quarter valued at approximately $162,000. SeaCrest Wealth Management LLC purchased a new stake in Palo Alto Networks in the fourth quarter valued at approximately $192,000. Commerce Bank purchased a new stake in Palo Alto Networks in the third quarter valued at approximately $221,000. Finally, First Mercantile Trust Co. purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth $226,000. 78.92% of the stock is currently owned by institutional investors.
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.
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.