Palo Alto Networks (NYSE:PANW) PT Raised to $225.00 at Royal Bank of Canada

Palo Alto Networks (NYSE:PANW) had its target price hoisted by Royal Bank of Canada from $175.00 to $225.00 in a report released on Tuesday morning, The Fly reports. They currently have a sector perform rating on the network technology company’s stock.

Other equities analysts also recently issued reports about the stock. ValuEngine upgraded shares of Palo Alto Networks from a hold rating to a buy rating in a research note on Tuesday, February 25th. Morgan Stanley decreased their price target on shares of Palo Alto Networks from $300.00 to $200.00 and set an overweight rating on the stock in a research note on Wednesday, March 25th. Monness Crespi & Hardt decreased their price target on shares of Palo Alto Networks from $250.00 to $210.00 and set a buy rating on the stock in a research note on Wednesday, April 1st. BTIG Research initiated coverage on shares of Palo Alto Networks in a research note on Friday, March 27th. They issued a neutral rating on the stock. Finally, UBS Group downgraded shares of Palo Alto Networks from a buy rating to a neutral rating and upped their price target for the company from $216.00 to $221.00 in a research note on Monday, May 18th. Twelve research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $254.48.

NYSE:PANW opened at $237.93 on Tuesday. Palo Alto Networks has a one year low of $125.47 and a one year high of $251.10. The company has a market cap of $22.88 billion, a P/E ratio of -100.82 and a beta of 1.14. The firm’s fifty day moving average price is $195.88 and its two-hundred day moving average price is $214.24. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.78 and a quick ratio of 1.78.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, May 21st. The network technology company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $1.54. Palo Alto Networks had a negative net margin of 7.01% and a negative return on equity of 5.65%. The firm had revenue of $869.40 million for the quarter, compared to the consensus estimate of $831.52 million. During the same period in the previous year, the company earned $1.31 earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, equities research analysts expect that Palo Alto Networks will post -0.77 earnings per share for the current year.

In related news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $194.20, for a total value of $2,330,400.00. Following the completion of the transaction, the executive vice president now owns 986,875 shares in the company, valued at approximately $191,651,125. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Donovan acquired 8,102 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was acquired at an average price of $185.35 per share, with a total value of $1,501,705.70. Following the acquisition, the director now owns 11,222 shares in the company, valued at $2,079,997.70. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cim Investment Mangement Inc. bought a new position in Palo Alto Networks in the 1st quarter valued at approximately $408,000. APG Asset Management N.V. raised its holdings in Palo Alto Networks by 29.5% in the 1st quarter. APG Asset Management N.V. now owns 173,386 shares of the network technology company’s stock valued at $28,428,000 after buying an additional 39,467 shares during the last quarter. Eminence Capital LP bought a new position in Palo Alto Networks in the 1st quarter valued at approximately $87,267,000. Squarepoint Ops LLC bought a new position in Palo Alto Networks in the 1st quarter valued at approximately $371,000. Finally, Tower Research Capital LLC TRC bought a new position in Palo Alto Networks in the 1st quarter valued at approximately $405,000. Institutional investors and hedge funds own 77.99% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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