KeyCorp Raises Palo Alto Networks (NASDAQ:PANW) Price Target to $400.00

Palo Alto Networks (NASDAQ:PANW) had its price objective raised by KeyCorp from $380.00 to $400.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the network technology company’s stock.

PANW has been the subject of a number of other research reports. Oppenheimer reiterated an outperform rating and issued a $330.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Westpark Capital reiterated a hold rating on shares of Palo Alto Networks in a research note on Wednesday, August 14th. UBS Group increased their price target on shares of Palo Alto Networks from $300.00 to $345.00 and gave the company a neutral rating in a research note on Tuesday, August 13th. Daiwa America upgraded shares of Palo Alto Networks to a strong-buy rating in a research note on Wednesday, May 29th. Finally, Citigroup increased their price target on shares of Palo Alto Networks from $345.00 to $385.00 and gave the company a buy rating in a research note on Wednesday, August 14th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $363.49.

Palo Alto Networks Trading Down 2.9 %

Shares of PANW opened at $349.48 on Tuesday. Palo Alto Networks has a 12 month low of $224.64 and a 12 month high of $380.84. The firm has a fifty day simple moving average of $329.49 and a 200 day simple moving average of $311.45. The stock has a market capitalization of $113.16 billion, a price-to-earnings ratio of 50.80, a PEG ratio of 4.40 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 earnings per share. As a group, research analysts predict that Palo Alto Networks will post 2.94 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 1,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $293.31, for a total transaction of $10,559,160.00. Following the completion of the sale, the executive vice president now owns 1,259,567 shares in the company, valued at $369,443,596.77. The disclosure for this sale can be found here. Insiders have sold a total of 366,372 shares of company stock valued at $118,440,693 in the last ninety days. 3.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palo Alto Networks

Hedge funds have recently made changes to their positions in the stock. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares in the last quarter. Ulland Investment Advisors LLC acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at approximately $30,000. Finally, Central Bank & Trust Co. boosted its position in Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

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.