Palo Alto Networks (NASDAQ:PANW) had its price target increased by Citigroup Inc. to $52.00 in a research report sent to investors on Tuesday morning, StockRatingsNetwork reports. The firm currently has a hold rating on the stock.
Palo Alto Networks (NASDAQ:PANW) traded up 0.99% on Tuesday, hitting $49.98. The stock had a trading volume of 1,259,012 shares. Palo Alto Networks has a 1-year low of $39.08 and a 1-year high of $62.19. The stock’s 50-day moving average is $43.71 and its 200-day moving average is $46.39. The company’s market cap is $3.582 billion.
Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, November 25th. The company reported $0.08 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.07 by $0.01. The company had revenue of $128.20 million for the quarter, compared to the consensus estimate of $120.81 million. During the same quarter last year, the company posted $0.04 earnings per share. Palo Alto Networks’s revenue was up 49.2% compared to the same quarter last year. On average, analysts predict that Palo Alto Networks will post $0.42 earnings per share for the current fiscal year.
In other Palo Alto Networks news, Director Asheem Chandna sold 17,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.73, for a total value of $800,275.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other analysts have also recently weighed in on PANW. Analysts at Goldman Sachs Group Inc. reiterated a buy rating on shares of Palo Alto Networks in a research note to investors on Tuesday. They now have a $75.00 price target on the stock. Separately, analysts at Northland Securities reiterated an outperform rating on shares of Palo Alto Networks in a research note to investors on Tuesday. Finally, analysts at Needham & Company raised their EPS on shares of Palo Alto Networks in a research note to investors on Tuesday. They now have a buy rating on the stock. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $57.54.
Palo Alto Networks, Inc offers a network security platform that allows enterprises, service providers, and government entities to secure their networks.
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