Analysts Set Palo Alto Networks, Inc. (NASDAQ:PANW) Price Target at $654.88

Shares of Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-four brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $654.88.

Several research firms have commented on PANW. Wolfe Research boosted their price target on shares of Palo Alto Networks from $700.00 to $715.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 23rd. Wells Fargo & Company boosted their price target on shares of Palo Alto Networks from $700.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 23rd. Wedbush boosted their target price on shares of Palo Alto Networks from $580.00 to $620.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 23rd. Credit Suisse Group boosted their target price on shares of Palo Alto Networks from $635.00 to $685.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palo Alto Networks from $605.00 to $625.00 in a research note on Tuesday, August 23rd.

Insider Buying and Selling

In other news, CEO Nikesh Arora sold 3,125 shares of the business’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $527.09, for a total value of $1,647,156.25. Following the completion of the transaction, the chief executive officer now directly owns 481,142 shares of the company’s stock, valued at $253,605,136.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, CFO Dipak Golechha sold 500 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $525.00, for a total transaction of $262,500.00. Following the transaction, the chief financial officer now directly owns 30,780 shares of the company’s stock, valued at $16,159,500. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nikesh Arora sold 3,125 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $527.09, for a total transaction of $1,647,156.25. Following the transaction, the chief executive officer now directly owns 481,142 shares in the company, valued at $253,605,136.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,466 shares of company stock valued at $418,599,046. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brinker Capital Investments LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter worth $980,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Palo Alto Networks by 24.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 46,442 shares of the network technology company’s stock worth $25,856,000 after buying an additional 9,126 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Palo Alto Networks by 15.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,938 shares of the network technology company’s stock valued at $1,635,000 after purchasing an additional 387 shares during the last quarter. Baird Financial Group Inc. increased its stake in Palo Alto Networks by 1.2% during the fourth quarter. Baird Financial Group Inc. now owns 46,134 shares of the network technology company’s stock valued at $25,686,000 after purchasing an additional 531 shares during the last quarter. Finally, AXS Investments LLC bought a new stake in Palo Alto Networks during the fourth quarter valued at $5,912,000. 86.17% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

PANW stock opened at $556.81 on Monday. Palo Alto Networks has a one year low of $421.55 and a one year high of $640.90. The firm’s 50 day moving average price is $514.93 and its 200-day moving average price is $533.93. The firm has a market cap of $55.48 billion, a PE ratio of -204.71, a PEG ratio of 8.75 and a beta of 1.18.

Shares of Palo Alto Networks are going to split before the market opens on Wednesday, September 14th. The 3-1 split was announced on Monday, August 22nd. The newly created shares will be payable to shareholders after the market closes on Tuesday, September 13th.

Palo Alto Networks (NASDAQ:PANWGet Rating) last posted its earnings results on Monday, August 22nd. The network technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.11. Palo Alto Networks had a negative net margin of 4.85% and a negative return on equity of 38.85%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm earned ($0.63) EPS. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. Equities research analysts predict that Palo Alto Networks will post 2.03 EPS for the current fiscal year.

Palo Alto Networks Company Profile

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Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, 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.

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Analyst Recommendations for Palo Alto Networks (NASDAQ:PANW)

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