Palo Alto Networks (NASDAQ:PANW) Price Target Increased to $365.00 by Analysts at JPMorgan Chase & Co.

Palo Alto Networks (NASDAQ:PANW) had its price target lifted by JPMorgan Chase & Co. from $340.00 to $365.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the network technology company’s stock.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets upped their price target on shares of Palo Alto Networks from $327.00 to $334.00 and gave the stock an outperform rating in a report on Tuesday, May 21st. Susquehanna increased their price objective on shares of Palo Alto Networks from $325.00 to $340.00 and gave the company a positive rating in a research report on Tuesday, May 21st. Macquarie increased their price target on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock a neutral rating in a report on Tuesday, May 21st. Sanford C. Bernstein increased their price target on shares of Palo Alto Networks from $335.00 to $364.00 and gave the stock an outperform rating in a report on Tuesday, May 21st. Finally, Robert W. Baird raised their price objective on shares of Palo Alto Networks from $340.00 to $360.00 and gave the stock an outperform rating in a research note on Thursday, June 27th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of Moderate Buy and an average target price of $331.63.

Palo Alto Networks Stock Performance

Shares of PANW opened at $334.11 on Thursday. The company’s fifty day moving average is $326.31 and its 200 day moving average is $310.65. Palo Alto Networks has a fifty-two week low of $201.17 and a fifty-two week high of $380.84. The stock has a market capitalization of $108.18 billion, a PE ratio of 48.56, a P/E/G ratio of 4.48 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. As a group, research analysts forecast that Palo Alto Networks will post 2.94 earnings per share for the current year.

Insider Activity

In related news, Director Aparna Bawa sold 322 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total value of $99,820.00. Following the completion of the sale, the director now owns 3,767 shares in the company, valued at $1,167,770. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Aparna Bawa sold 322 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total value of $99,820.00. Following the completion of the transaction, the director now owns 3,767 shares in the company, valued at $1,167,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Key sold 2,163 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 12,639 shares of the company’s stock, valued at approximately $3,860,076.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 367,315 shares of company stock valued at $118,696,590. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Palo Alto Networks

Institutional investors and hedge funds have recently made changes to their positions in the company. Core Alternative Capital lifted its position in Palo Alto Networks by 2.0% in the 2nd quarter. Core Alternative Capital now owns 14,081 shares of the network technology company’s stock valued at $4,774,000 after acquiring an additional 281 shares in the last quarter. Regal Investment Advisors LLC lifted its position in Palo Alto Networks by 3.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 2,589 shares of the network technology company’s stock worth $878,000 after buying an additional 83 shares in the last quarter. Quarry LP lifted its position in Palo Alto Networks by 565.9% during the 2nd quarter. Quarry LP now owns 273 shares of the network technology company’s stock worth $93,000 after buying an additional 232 shares in the last quarter. Sunbelt Securities Inc. lifted its position in Palo Alto Networks by 15.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,935 shares of the network technology company’s stock worth $656,000 after buying an additional 252 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Palo Alto Networks by 23.5% during the 2nd quarter. NewEdge Advisors LLC now owns 49,608 shares of the network technology company’s stock worth $16,818,000 after buying an additional 9,446 shares in the last quarter. Institutional investors and hedge funds 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.