Palo Alto Networks, Inc. (NASDAQ:PANW) Receives $326.29 Consensus Price Target from Brokerages

Shares of Palo Alto Networks, Inc. (NASDAQ:PANWGet Free Report) have received an average recommendation of “Moderate Buy” from the forty-two research firms that are covering the stock, Marketbeat reports. Eleven analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $326.29.

PANW has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a report on Friday, June 21st. JPMorgan Chase & Co. increased their target price on shares of Palo Alto Networks from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Wedbush reaffirmed an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. Finally, Royal Bank of Canada dropped their target price on shares of Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st.

Check Out Our Latest Research Report on PANW

Insider Buying and Selling

In related news, President William D. Jenkins, Jr. sold 1,621 shares of Palo Alto Networks stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total transaction of $497,517.32. Following the sale, the president now owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, President William D. Jenkins, Jr. sold 1,621 shares of Palo Alto Networks stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total transaction of $497,517.32. Following the sale, the president now owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the completion of the sale, the executive vice president now directly owns 1,295,567 shares of the company’s stock, valued at approximately $373,434,232.08. The disclosure for this sale can be found here. Insiders have sold 428,391 shares of company stock valued at $136,147,317 in the last quarter. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Palo Alto Networks

Several hedge funds and other institutional investors have recently modified their holdings of PANW. Norges Bank bought a new stake in shares of Palo Alto Networks in the 4th quarter worth about $1,563,020,000. International Assets Investment Management LLC boosted its holdings in shares of Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after buying an additional 2,050,917 shares during the period. Jennison Associates LLC boosted its holdings in shares of Palo Alto Networks by 83.1% in the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after buying an additional 1,187,915 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Palo Alto Networks by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock valued at $8,129,800,000 after buying an additional 1,058,127 shares during the period. Finally, Axiom Investors LLC DE boosted its holdings in shares of Palo Alto Networks by 359.3% in the 4th quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock valued at $282,406,000 after buying an additional 749,199 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.3 %

NASDAQ PANW opened at $337.06 on Thursday. The stock has a market capitalization of $109.14 billion, a P/E ratio of 48.99, a P/E/G ratio of 5.17 and a beta of 1.14. Palo Alto Networks has a 52-week low of $201.17 and a 52-week high of $380.84. The firm has a 50-day moving average price of $314.98 and a 200 day moving average price of $309.12.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. On average, equities research analysts expect that Palo Alto Networks will post 2.94 earnings per share for the current fiscal year.

About Palo Alto Networks

(Get Free Report

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.

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Analyst Recommendations for Palo Alto Networks (NASDAQ:PANW)

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