Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $455.00 at Evercore ISI

Palo Alto Networks (NASDAQ:PANW - Get Free Report) had its target price raised by stock analysts at Evercore ISI from $395.00 to $455.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the network technology company's stock. Evercore ISI's price target points to a potential upside of 17.62% from the stock's current price.

PANW has been the topic of several other reports. Susquehanna boosted their price objective on shares of Palo Alto Networks from $340.00 to $420.00 and gave the stock a "positive" rating in a research report on Thursday, September 5th. Barclays boosted their price objective on shares of Palo Alto Networks from $410.00 to $425.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. TD Cowen boosted their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. Westpark Capital restated a "hold" rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Finally, The Goldman Sachs Group upped their target price on shares of Palo Alto Networks from $376.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average target price of $390.39.

Palo Alto Networks Trading Down 0.0 %

Shares of NASDAQ:PANW traded down $0.17 on Monday, reaching $386.83. 2,232,411 shares of the company were exchanged, compared to its average volume of 3,842,728. Palo Alto Networks has a 1-year low of $249.56 and a 1-year high of $408.53. The firm has a market cap of $125.95 billion, a price-to-earnings ratio of 53.72, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12. The company has a 50-day moving average of $359.86 and a 200-day moving average of $336.73.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the prior year, the company posted $0.80 EPS. The business's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, analysts forecast that Palo Alto Networks will post 3.56 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the company's stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 11.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 10,000 shares of the company's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now owns 31,517 shares of the company's stock, valued at $10,983,359.33. The trade was a 24.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,252 shares of company stock worth $89,041,637 over the last three months. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its position in Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company's stock valued at $1,113,948,000 after acquiring an additional 3,249,594 shares during the period. Jennison Associates LLC grew its position in Palo Alto Networks by 50.1% in the third quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company's stock valued at $1,075,718,000 after acquiring an additional 1,050,173 shares during the period. Swedbank AB bought a new stake in Palo Alto Networks in the first quarter valued at $177,933,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Palo Alto Networks in the third quarter valued at $174,124,000. Finally, Altshuler Shaham Ltd grew its position in Palo Alto Networks by 444,100.0% in the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company's stock valued at $150,520,000 after acquiring an additional 444,100 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

About Palo Alto Networks

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.