Palo Alto Networks (NASDAQ:PANW) PT Raised to $255.00 at JMP Securities

Palo Alto Networks (NASDAQ:PANW – Get Rating) had its target price lifted by research analysts at JMP Securities from $230.00 to $255.00 in a research report issued on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the network technology company’s stock. JMP Securities’ target price points to a potential upside of 22.61% from the company’s previous close.

Several other brokerages have also recently issued reports on PANW. Oppenheimer raised their price objective on Palo Alto Networks from $220.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, April 17th. Scotiabank raised their price objective on Palo Alto Networks from $195.00 to $212.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 22nd. Wedbush raised their price objective on Palo Alto Networks from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 22nd. StockNews.com started coverage on Palo Alto Networks in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Palo Alto Networks from $165.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Five research analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $232.19.

Palo Alto Networks Trading Up 1.8 %

Palo Alto Networks stock opened at $207.98 on Wednesday. The stock has a market cap of $62.94 billion, a P/E ratio of 330.13, a price-to-earnings-growth ratio of 5.03 and a beta of 1.17. The stock has a 50 day moving average of $192.20 and a 200-day moving average of $178.00. Palo Alto Networks has a 52 week low of $132.22 and a 52 week high of $208.87.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last released its earnings results on Tuesday, February 21st. The network technology company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.12 by $0.22. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Palo Alto Networks had a return on equity of 69.46% and a net margin of 3.32%. As a group, equities analysts predict that Palo Alto Networks will post 1.2 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $183.12, for a total transaction of $8,240,400.00. Following the completion of the sale, the executive vice president now directly owns 605,212 shares in the company, valued at approximately $110,826,421.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $187.20, for a total transaction of $6,739,200.00. Following the completion of the sale, the executive vice president now directly owns 1,774,898 shares in the company, valued at approximately $332,260,905.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $183.12, for a total value of $8,240,400.00. Following the sale, the executive vice president now owns 605,212 shares of the company’s stock, valued at $110,826,421.44. The disclosure for this sale can be found here. Insiders sold 267,330 shares of company stock worth $50,478,046 in the last quarter. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palo Alto Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in PANW. JNBA Financial Advisors raised its stake in shares of Palo Alto Networks by 200.0% during the 3rd quarter. JNBA Financial Advisors now owns 150 shares of the network technology company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Ten Capital Wealth Advisors LLC raised its stake in shares of Palo Alto Networks by 200.0% in the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 150 shares of the network technology company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. American National Bank raised its stake in shares of Palo Alto Networks by 600.0% in the 1st quarter. American National Bank now owns 126 shares of the network technology company’s stock valued at $25,000 after acquiring an additional 108 shares in the last quarter. Dark Forest Capital Management LP raised its stake in shares of Palo Alto Networks by 2,950.0% in the 4th quarter. Dark Forest Capital Management LP now owns 183 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 177 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC bought a new position in shares of Palo Alto Networks in the 4th quarter valued at approximately $26,000. 81.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Company Profile

(Get Rating)

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: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.