Palo Alto Networks (NASDAQ:PANW) PT Raised to $220.00 at UBS Group

Palo Alto Networks (NASDAQ:PANW – Get Rating) had its price objective raised by equities research analysts at UBS Group from $200.00 to $220.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm currently has a “neutral” rating on the network technology company’s stock. UBS Group’s price objective points to a potential upside of 5.78% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Capital One Financial initiated coverage on Palo Alto Networks in a research report on Friday, May 12th. They issued an “overweight” rating and a $247.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Palo Alto Networks from $165.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. JPMorgan Chase & Co. increased their price objective on Palo Alto Networks from $195.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 22nd. Credit Suisse Group increased their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, February 23rd. Finally, Jefferies Financial Group increased their price objective on Palo Alto Networks from $215.00 to $230.00 in a research report on Thursday, May 18th. Five investment analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $232.19.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $207.98 on Wednesday. The company has a market cap of $62.94 billion, a P/E ratio of 330.13, a P/E/G ratio of 5.03 and a beta of 1.17. The stock’s fifty day moving average price is $192.20 and its two-hundred day moving average price is $178.00. Palo Alto Networks has a 1 year low of $132.22 and a 1 year high of $208.87.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last posted its earnings results on Tuesday, February 21st. The network technology company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.22. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. Palo Alto Networks had a return on equity of 69.46% and a net margin of 3.32%. On average, analysts expect that Palo Alto Networks will post 1.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 275 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $186.60, for a total value of $51,315.00. Following the completion of the sale, the chief accounting officer now directly owns 30,944 shares in the company, valued at $5,774,150.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Josh D. Paul sold 275 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $186.60, for a total transaction of $51,315.00. Following the completion of the transaction, the chief accounting officer now directly owns 30,944 shares in the company, valued at $5,774,150.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $182.57, for a total transaction of $6,572,520.00. Following the transaction, the executive vice president now owns 1,702,898 shares of the company’s stock, valued at $310,898,087.86. The disclosure for this sale can be found here. Insiders sold 267,330 shares of company stock worth $50,478,046 over the last three months. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Palo Alto Networks

Large investors have recently made changes to their positions in the business. JNBA Financial Advisors lifted its holdings in shares of Palo Alto Networks by 200.0% during the third quarter. JNBA Financial Advisors now owns 150 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Ten Capital Wealth Advisors LLC lifted its holdings in shares of Palo Alto Networks by 200.0% during the third quarter. Ten Capital Wealth Advisors LLC now owns 150 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. American National Bank raised its holdings in Palo Alto Networks by 600.0% in the 1st quarter. American National Bank now owns 126 shares of the network technology company’s stock worth $25,000 after acquiring an additional 108 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in Palo Alto Networks by 2,950.0% in the 4th quarter. Dark Forest Capital Management LP now owns 183 shares of the network technology company’s stock worth $26,000 after acquiring an additional 177 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC purchased a new position in Palo Alto Networks in the 4th quarter worth approximately $26,000. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Company Profile

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.