Rosenblatt Securities Raises Palo Alto Networks (NASDAQ:PANW) Price Target to $390.00

Palo Alto Networks (NASDAQ:PANW - Get Free Report) had its price objective upped by Rosenblatt Securities from $345.00 to $390.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the network technology company's stock. Rosenblatt Securities' price target would suggest a potential upside of 0.82% from the stock's current price.

Several other analysts have also recently weighed in on PANW. Royal Bank of Canada lifted their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 20th. TD Cowen increased their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. BNP Paribas started coverage on Palo Alto Networks in a report on Tuesday, October 8th. They issued an "outperform" rating and a $410.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. Finally, Westpark Capital reaffirmed a "hold" rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and an average price target of $390.39.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW traded down $0.17 during midday trading on Monday, reaching $386.83. 2,232,411 shares of the stock were exchanged, compared to its average volume of 3,842,728. The business has a 50-day simple moving average of $359.86 and a two-hundred day simple moving average of $336.73. Palo Alto Networks has a 12 month low of $249.56 and a 12 month high of $408.53. The company has a market capitalization of $125.95 billion, a price-to-earnings ratio of 53.72, a P/E/G ratio of 5.61 and a beta of 1.12.

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

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the sale, the director now owns 31,517 shares in the company, valued at $10,983,359.33. This trade represents a 24.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now owns 1,115,567 shares of the company's stock, valued at $370,926,027.50. This represents a 3.13 % 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 valued at $89,041,637 in the last three months. Company insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Palo Alto Networks

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Palo Alto Networks by 3.0% in the third quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company's stock valued at $2,609,486,000 after acquiring an additional 220,900 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Palo Alto Networks by 34,318.2% during the 3rd 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 purchasing an additional 3,249,594 shares in the last quarter. Legal & General Group Plc increased its position in shares of Palo Alto Networks by 8.5% during the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company's stock valued at $1,099,564,000 after buying an additional 255,060 shares during the period. Jennison Associates LLC raised its stake 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 worth $1,075,718,000 after buying an additional 1,050,173 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Palo Alto Networks by 5.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company's stock worth $757,321,000 after buying an additional 114,742 shares during the period. Hedge funds and other institutional investors own 79.82% of the company's stock.

Palo Alto Networks Company Profile

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.