Susquehanna Increases Palo Alto Networks (NASDAQ:PANW) Price Target to $230.00

Palo Alto Networks (NASDAQ:PANW) had its target price increased by Susquehanna from $217.50 to $230.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a positive rating on the network technology company’s stock.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price objective on Palo Alto Networks from $193.50 to $224.50 and gave the stock an “overweight” rating in a report on Monday, November 18th. Rosenblatt Securities lifted their price objective on Palo Alto Networks from $212.50 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective on shares of Palo Alto Networks in a report on Thursday, November 21st. Finally, Barclays decreased their price objective on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.70.

Palo Alto Networks Stock Up 4.1 %

Shares of PANW stock opened at $208.28 on Tuesday. The business has a 50-day moving average price of $186.84 and a two-hundred day moving average price of $182.29. Palo Alto Networks has a 12-month low of $130.04 and a 12-month high of $208.35. The firm has a market cap of $136.67 billion, a P/E ratio of 54.24, a price-to-earnings-growth ratio of 5.36 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. As a group, research analysts expect that Palo Alto Networks will post 1.74 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 490,723 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at approximately $198,214,409.80. This represents a 31.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,458,864 shares of company stock valued at $269,397,331 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palo Alto Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vega Investment Solutions bought a new position in Palo Alto Networks in the 4th quarter valued at approximately $9,307,000. Strait & Sound Wealth Management LLC lifted its position in Palo Alto Networks by 102.8% in the 4th quarter. Strait & Sound Wealth Management LLC now owns 4,460 shares of the network technology company’s stock valued at $812,000 after acquiring an additional 2,261 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Palo Alto Networks by 109.4% during the 4th quarter. Sunbelt Securities Inc. now owns 4,140 shares of the network technology company’s stock valued at $763,000 after buying an additional 2,163 shares during the period. GTS Securities LLC lifted its holdings in shares of Palo Alto Networks by 104.9% during the 4th quarter. GTS Securities LLC now owns 6,368 shares of the network technology company’s stock valued at $1,159,000 after buying an additional 136,365 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Palo Alto Networks during the 4th quarter valued at $175,000. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.