Why Has Evercore ISI Given Palo Alto Networks (NYSE:PANW) a $215.00 Price Target
Evercore ISI has just issued a “Buy” rating for Palo Alto Networks (NYSE:PANW) shares. The firm began issuing coverage on shares of PANW in a note issued to investors and clients on Tuesday morning. This Estimated Target Price would indicate upside of 15.57% from the last stock close of Palo Alto Networks (NYSE:PANW).
From a total of 32 analysts covering Palo Alto Networks (NYSE:PANW) stock, 31 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 84% of the ratings are positive. The highest target price is $235 while the lowest target price is $186. The mean of all analyst targets is $208.19 with a 10.22% above today’s ($185.88) stock price. Palo Alto Networks was the topic of 35 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. FBR Capital maintained shares on December 3 with “Outperform” rating. RBC Capital Markets maintained shares with “Outperform” rating and $205 target share price in a report from a November 24. Imperial Capital maintained PANW stock in a recent report from November 25 with “Outperform” rating. Stifel Nicolaus maintained the rating on November 24. Stifel Nicolaus has a “Buy” rating and a $210 price target on shares. Finally, Oppenheimer maintained the stock with “Outperform” rating in a report issued on a November 24.
Approximately 913,126 shares of stock traded hands. Palo Alto Networks Inc (NYSE:PANW) has risen 21.11% since May 12, 2015 and is uptrending. It has outperformed by 24.79% the S&P500.
The overall sentiment of institutions has increased to 1.39 in Q2 2015. Its up 0.15, from 1.24 in 2015Q2. The ratio improved, as 50 institutions have sold all the shares of Palo Alto Networks Inc that they owned while 153 funds have taken shares off the table. 83 funds have purchased shares for the first time while 199 added to their positions. These institutions now hold 59.77 million shares or 10.21% less than the 66.56 million shares they owned in 2015Q2.
The Fund Sc Xi Management Llc currently is holding shares equating to 69.96% of its total portfolio in Palo Alto Networks Inc representing a total of 2.02 million shares. Another fund,Hamilton Lane Advisors Llc, is holding a total of 105,924 shares equating to 8.98% of their holdings. Additionally, Afton Capital Management Llc has a 11,500 share stake in Palo Alto Networks Inc which represents 5.85% of their total portfolio. The Fund, Scge Management L.P., based out of California, has also built up a stake in the stock, which represents a total of 5.57% of their total portfolio. Finally Westend Capital Management Llc, a fund which is based in the state of California reported a total holdings of 23,467 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 10, 2015, shareholders of Palo Alto Networks Inc have witnessed 0 insider purchases, and a total of 40 selling transactions equating to a net activity of approximately $73.08 million . Bonvanie Rene sold 224 shares worth approximately $36,202. Tomlinson Steffan sold 237 shares worth approximately $38,304. Zuk Nir sold 224 shares worth approximately $36,202. Mclaughlin Mark D sold 35,000 shares worth approximately $5.88M. The company insider Warmenhoven Daniel J sold 5,000 shares worth $872,116.
Palo Alto Networks, Inc. is a security company. The company has a market cap of $15.70 billion. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. It currently has negative earnings. The Company’s Next-Generation Firewall delivers application, user, and content visibility and control, as well as protection against network cyber threats integrated within the firewall through its hardware and software architecture.
According to Zacks Investment Research, “Palo Alto Networks, Inc. offers a network security platform that allows enterprises, service providers, and government entities to secure their networks. The core of its platform is the Company’s firewall that delivers natively integrated application, user, and content visibility and control through its operating system, hardware, and software architecture. It serves the enterprise network security market, which consists of Firewall, Unified Threat Management, Web Gateway, Intrusion Detection and Prevention, and Virtual Private Network technologies. Palo Alto Networks, Inc. is headquartered in Santa Clara, California.”