Evercore ISI Reiterates $145.00 Price Target for Palo Alto Networks, Inc. (PANW)

Palo Alto Networks, Inc. (NYSE:PANW) received a $145.00 target price from analysts at Evercore ISI in a research note issued to investors on Thursday. The brokerage currently has a “hold” rating on the network technology company’s stock. Evercore ISI’s price target points to a potential upside of 4.54% from the company’s current price.

Several other research analysts have also weighed in on the stock. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $173.00 target price on shares of Palo Alto Networks in a research report on Tuesday. Piper Jaffray Companies set a $155.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a research report on Sunday, November 12th. Zacks Investment Research lowered shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a research report on Monday. BidaskClub lowered shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Finally, Northland Securities set a $175.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $160.33.

Palo Alto Networks (NYSE:PANW) opened at $138.70 on Thursday. Palo Alto Networks has a one year low of $107.31 and a one year high of $165.69. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.69.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The firm had revenue of $509.00 million for the quarter, compared to analyst estimates of $487.53 million. During the same quarter last year, the firm earned $0.50 earnings per share. The company’s revenue was up 27.0% compared to the same quarter last year. sell-side analysts expect that Palo Alto Networks will post -0.5 earnings per share for the current year.

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In other news, President Mark Anderson sold 44,429 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $143.10, for a total value of $6,357,789.90. Following the transaction, the president now directly owns 176,290 shares in the company, valued at approximately $25,227,099. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stanley J. Meresman sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $151.01, for a total transaction of $302,020.00. The disclosure for this sale can be found here. Insiders have sold a total of 284,744 shares of company stock worth $42,239,296 over the last quarter. 4.80% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Sun Life Financial INC lifted its position in Palo Alto Networks by 785.0% in the 2nd quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock valued at $134,000 after purchasing an additional 887 shares during the last quarter. Global X Management Co. LLC lifted its position in Palo Alto Networks by 24.4% in the 2nd quarter. Global X Management Co. LLC now owns 1,168 shares of the network technology company’s stock valued at $156,000 after purchasing an additional 229 shares during the last quarter. Penserra Capital Management LLC bought a new stake in Palo Alto Networks in the 3rd quarter valued at about $162,000. Benjamin F. Edwards & Company Inc. lifted its position in Palo Alto Networks by 495.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock valued at $178,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in Palo Alto Networks by 30.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock valued at $188,000 after purchasing an additional 322 shares during the last quarter. Institutional investors own 77.50% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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