Stifel Nicolaus Increases Palo Alto Networks (NASDAQ:PANW) Price Target to $240.00

Palo Alto Networks (NASDAQ:PANW – Get Rating) had its price target hoisted by investment analysts at Stifel Nicolaus from $225.00 to $240.00 in a report released on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the network technology company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 15.40% from the company’s current price.

Other analysts have also recently issued reports about the company. BTIG Research raised their target price on Palo Alto Networks from $240.00 to $253.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup raised their target price on Palo Alto Networks from $195.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Rosenblatt Securities began coverage on Palo Alto Networks in a research note on Monday, May 1st. They issued a “buy” rating and a $250.00 target price on the stock. Mizuho raised their target price on Palo Alto Networks from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird raised their price objective on shares of Palo Alto Networks from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, February 22nd. Five analysts have rated the stock with a hold rating and thirty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $232.19.

Palo Alto Networks Stock Up 1.8 %

NASDAQ PANW opened at $207.98 on Wednesday. The stock’s 50-day simple moving average is $192.20 and its two-hundred day simple moving average is $178.00. Palo Alto Networks has a twelve month low of $132.22 and a twelve month high of $208.87. The company has a market capitalization of $62.94 billion, a price-to-earnings ratio of 330.13, a PEG ratio of 5.03 and a beta of 1.17.

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

Insiders Place Their Bets

In other Palo Alto Networks news, Director Aparna Bawa sold 555 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $184.59, for a total value of $102,447.45. Following the sale, the director now owns 5,223 shares in the company, valued at approximately $964,113.57. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $182.57, for a total transaction of $6,572,520.00. Following the transaction, the executive vice president now directly owns 1,702,898 shares in the company, valued at approximately $310,898,087.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aparna Bawa sold 555 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $184.59, for a total transaction of $102,447.45. Following the transaction, the director now owns 5,223 shares in the company, valued at $964,113.57. The disclosure for this sale can be found here. Insiders have sold a total of 267,330 shares of company stock worth $50,478,046 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palo Alto Networks

Hedge funds have recently added to or reduced their stakes in the stock. JNBA Financial Advisors boosted its stake in shares of Palo Alto Networks by 200.0% during the third quarter. JNBA Financial Advisors now owns 150 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Ten Capital Wealth Advisors LLC boosted its stake in shares of Palo Alto Networks by 200.0% during the third quarter. Ten Capital Wealth Advisors LLC now owns 150 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. American National Bank boosted its stake in shares of Palo Alto Networks by 600.0% during the first quarter. American National Bank now owns 126 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 108 shares in the last quarter. Dark Forest Capital Management LP boosted its stake in shares of Palo Alto Networks by 2,950.0% during the fourth quarter. Dark Forest Capital Management LP now owns 183 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 177 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC bought a new position in shares of Palo Alto Networks during the fourth quarter valued at approximately $26,000. 81.82% of the stock is currently owned by institutional investors.

About Palo Alto Networks

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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.