Palo Alto Networks (NASDAQ:PANW) Given New $545.00 Price Target at UBS Group

Palo Alto Networks (NASDAQ:PANWGet Rating) had its price objective upped by UBS Group to $545.00 in a report published on Friday, Stock Target Advisor reports.

PANW has been the topic of a number of other research reports. Wedbush reduced their price target on Palo Alto Networks from $660.00 to $580.00 and set an outperform rating on the stock in a research report on Friday. KeyCorp boosted their price target on Palo Alto Networks from $610.00 to $729.00 and gave the company an overweight rating in a research note on Tuesday. Morgan Stanley lifted their price objective on shares of Palo Alto Networks from $670.00 to $823.00 and gave the company an overweight rating in a research note on Monday, April 25th. The Goldman Sachs Group raised their target price on Palo Alto Networks from $650.00 to $700.00 in a report on Tuesday, April 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Palo Alto Networks from $605.00 to $587.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirty have given a buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks currently has a consensus rating of Buy and an average target price of $626.48.

PANW opened at $478.68 on Friday. The stock has a fifty day moving average of $569.01 and a 200-day moving average of $540.54. The company has a market capitalization of $47.14 billion, a P/E ratio of -120.27 and a beta of 1.28. Palo Alto Networks has a fifty-two week low of $350.96 and a fifty-two week high of $640.90.

Palo Alto Networks (NASDAQ:PANWGet Rating) last issued its quarterly earnings data on Thursday, May 19th. The network technology company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.11. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Palo Alto Networks had a negative net margin of 7.54% and a negative return on equity of 54.57%. The business’s revenue was up 29.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.62) EPS. As a group, sell-side analysts expect that Palo Alto Networks will post -1.29 EPS for the current year.

In other news, EVP Lee Klarich sold 3,500 shares of the stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $479.46, for a total value of $1,678,110.00. Following the completion of the sale, the executive vice president now owns 252,551 shares in the company, valued at $121,088,102.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 25,250 shares of the firm’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $552.67, for a total transaction of $13,954,917.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,032 shares of company stock valued at $40,587,677. Company insiders own 2.20% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Capital Advisory Group Advisory Services LLC purchased a new position in Palo Alto Networks in the first quarter valued at about $29,000. Patriot Financial Group Insurance Agency LLC lifted its stake in Palo Alto Networks by 108.7% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 48 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 25 shares during the last quarter. North Star Investment Management Corp. bought a new position in Palo Alto Networks during the fourth quarter valued at $28,000. JNBA Financial Advisors increased its position in Palo Alto Networks by 900.0% in the first quarter. JNBA Financial Advisors now owns 50 shares of the network technology company’s stock worth $31,000 after buying an additional 45 shares during the last quarter. Finally, Worth Asset Management LLC bought a new stake in shares of Palo Alto Networks in the first quarter valued at $26,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Palo Alto Networks Company Profile (Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, 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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