Palo Alto Networks (NASDAQ:PANW) PT Raised to $395.00 at Deutsche Bank Aktiengesellschaft

Palo Alto Networks (NASDAQ:PANW) had its target price increased by equities researchers at Deutsche Bank Aktiengesellschaft from $330.00 to $395.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the network technology company’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 9.80% from the company’s previous close.

A number of other equities research analysts have also recently commented on PANW. Barclays increased their price objective on shares of Palo Alto Networks from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Susquehanna lifted their price objective on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research report on Tuesday, May 21st. Robert W. Baird increased their target price on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Royal Bank of Canada boosted their price target on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, UBS Group increased their price objective on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $363.49.

Palo Alto Networks Trading Down 2.2 %

Shares of Palo Alto Networks stock opened at $359.75 on Tuesday. The company has a 50-day moving average of $328.90 and a two-hundred day moving average of $311.18. Palo Alto Networks has a 12-month low of $224.64 and a 12-month high of $380.84. The stock has a market cap of $116.49 billion, a PE ratio of 52.29, a price-to-earnings-growth ratio of 4.48 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.80 EPS. On average, sell-side analysts forecast that Palo Alto Networks will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, Director John P. Key sold 2,163 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $305.41, for a total transaction of $660,601.83. Following the transaction, the director now directly owns 12,639 shares in the company, valued at approximately $3,860,076.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palo Alto Networks news, Director John P. Key sold 2,163 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the sale, the director now owns 12,639 shares in the company, valued at $3,860,076.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President William D. Jenkins, Jr. sold 1,475 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the transaction, the president now owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 366,372 shares of company stock worth $118,440,693. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Pathway Financial Advisers LLC bought a new position in Palo Alto Networks in the first quarter worth about $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its stake in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares during the last quarter. Ulland Investment Advisors LLC acquired a new stake in Palo Alto Networks in the first quarter worth $30,000. Finally, Central Bank & Trust Co. grew its position in shares of Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after acquiring an additional 50 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

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.