Trade Report: Today, Palo Alto Networks Inc. (PANW) Given New $180.00 Price Target at Imperial Capital

Today, Palo Alto Networks Inc. (PANW) Given New $180.00 Price Target at Imperial Capital

Palo Alto Networks Inc. (NYSE:PANW) had its price objective reduced by equities researchers at Imperial Capital from $190.00 to $180.00 in a research note issued on Tuesday, StockTargetPrices.com reports. The brokerage currently has an “outperform” rating on the network technology company’s stock. Imperial Capital’s price objective suggests a potential upside of 32.10% from the stock’s current price.

A number of other equities analysts have also commented on PANW. Barclays PLC reduced their price target on shares of Palo Alto Networks from $200.00 to $175.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 22nd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $184.00 target price on shares of Palo Alto Networks in a research note on Monday. RBC Capital Markets reaffirmed an “outperform” rating and issued a $175.00 target price (down from $185.00) on shares of Palo Alto Networks in a research note on Wednesday, August 31st. Argus reaffirmed a “buy” rating and issued a $205.00 target price on shares of Palo Alto Networks in a research note on Saturday, September 3rd. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $170.00 target price (up from $167.00) on shares of Palo Alto Networks in a research note on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $180.06.

Shares of Palo Alto Networks (NYSE:PANW) opened at 136.26 on Tuesday. Palo Alto Networks has a one year low of $111.09 and a one year high of $194.73. The company’s market capitalization is $12.24 billion. The company’s 50-day moving average is $151.57 and its 200-day moving average is $140.38.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Monday, November 21st. The network technology company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The firm had revenue of $398.10 million for the quarter, compared to analyst estimates of $400.20 million. Palo Alto Networks had a negative net margin of 16.83% and a negative return on equity of 35.75%. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. Equities analysts predict that Palo Alto Networks will post $2.78 earnings per share for the current year.

In related news, CFO Steffan Tomlinson sold 2,332 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $148.98, for a total value of $347,421.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nir Zuk sold 103,152 shares of the firm’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $159.36, for a total transaction of $16,438,302.72. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in shares of Palo Alto Networks during the second quarter worth about $2,381,000. Tocqueville Asset Management L.P. raised its position in shares of Palo Alto Networks by 7.4% in the second quarter. Tocqueville Asset Management L.P. now owns 83,440 shares of the network technology company’s stock worth $10,233,000 after buying an additional 5,785 shares during the period. Essex Investment Management Co. LLC raised its position in shares of Palo Alto Networks by 3.8% in the second quarter. Essex Investment Management Co. LLC now owns 84,320 shares of the network technology company’s stock worth $10,341,000 after buying an additional 3,116 shares during the period. Trillium Asset Management LLC raised its position in shares of Palo Alto Networks by 8.4% in the second quarter. Trillium Asset Management LLC now owns 117,742 shares of the network technology company’s stock worth $14,440,000 after buying an additional 9,134 shares during the period. Finally, Penserra Capital Management LLC raised its position in shares of Palo Alto Networks by 24.2% in the second quarter. Penserra Capital Management LLC now owns 223,416 shares of the network technology company’s stock worth $27,400,000 after buying an additional 43,521 shares during the period. Institutional investors and hedge funds own 87.20% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s Next-Generation Firewall delivers application, user, and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

Related posts

Leave a Comment