Palo Alto Networks (NYSE:PANW) Price Target Increased to $540.00 by Analysts at Robert W. Baird

Palo Alto Networks (NYSE:PANW) had its price target raised by Robert W. Baird from $480.00 to $540.00 in a research report sent to investors on Tuesday, The Fly reports. Robert W. Baird currently has an outperform rating on the network technology company’s stock.

Several other brokerages have also recently issued reports on PANW. Cowen lifted their price objective on Palo Alto Networks from $425.00 to $475.00 and gave the company an outperform rating in a research note on Tuesday, August 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Palo Alto Networks from $490.00 to $515.00 and gave the company a buy rating in a research note on Tuesday, August 24th. Royal Bank of Canada lifted their price objective on Palo Alto Networks from $475.00 to $525.00 and gave the company an outperform rating in a research note on Friday, September 10th. The Goldman Sachs Group boosted their target price on Palo Alto Networks from $515.00 to $535.00 and gave the stock a buy rating in a research note on Monday. Finally, Summit Insights restated a buy rating and set a $500.00 target price (up previously from $425.00) on shares of Palo Alto Networks in a research note on Tuesday, August 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $504.72.

Shares of Palo Alto Networks stock opened at $484.83 on Tuesday. The business has a 50-day moving average of $411.18 and a 200 day moving average of $371.94. Palo Alto Networks has a 12 month low of $219.34 and a 12 month high of $495.92. The stock has a market capitalization of $47.23 billion, a price-to-earnings ratio of -93.60 and a beta of 1.40. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.91 and a quick ratio of 1.38.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Sunday, August 22nd. The network technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.16. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Palo Alto Networks had a negative return on equity of 17.08% and a negative net margin of 11.72%. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 EPS. Equities research analysts anticipate that Palo Alto Networks will post -0.47 earnings per share for the current year.

In other Palo Alto Networks news, EVP Lee Klarich sold 6,870 shares of the business’s stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $462.48, for a total transaction of $3,177,237.60. Following the sale, the executive vice president now directly owns 265,453 shares in the company, valued at $122,766,703.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $369.01, for a total value of $4,428,120.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,184 shares of company stock worth $20,813,424. Company insiders own 2.30% of the company’s stock.

Several large investors have recently modified their holdings of PANW. Viking Global Investors LP increased its stake in Palo Alto Networks by 32.9% in the first quarter. Viking Global Investors LP now owns 2,508,314 shares of the network technology company’s stock valued at $807,828,000 after purchasing an additional 621,184 shares during the last quarter. Northern Trust Corp increased its stake in Palo Alto Networks by 1.6% in the first quarter. Northern Trust Corp now owns 1,214,474 shares of the network technology company’s stock valued at $391,133,000 after purchasing an additional 18,646 shares during the last quarter. Geode Capital Management LLC increased its stake in Palo Alto Networks by 4.8% in the second quarter. Geode Capital Management LLC now owns 1,132,615 shares of the network technology company’s stock valued at $419,581,000 after purchasing an additional 51,760 shares during the last quarter. Altshuler Shaham Ltd increased its stake in Palo Alto Networks by 2.0% in the first quarter. Altshuler Shaham Ltd now owns 1,081,033 shares of the network technology company’s stock valued at $348,157,000 after purchasing an additional 21,105 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Palo Alto Networks by 9.7% in the second quarter. Legal & General Group Plc now owns 753,898 shares of the network technology company’s stock valued at $279,734,000 after purchasing an additional 66,500 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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