Palo Alto Networks (NASDAQ:PANW) PT Raised to $376.00

Palo Alto Networks (NASDAQ:PANW) had its target price raised by The Goldman Sachs Group from $330.00 to $376.00 in a research report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the network technology company’s stock.

Several other research firms have also recently weighed in on PANW. Rosenblatt Securities increased their target price on shares of Palo Alto Networks from $300.00 to $345.00 and gave the company a neutral rating in a research note on Monday, August 19th. Macquarie increased their target price on shares of Palo Alto Networks from $270.00 to $285.00 and gave the company a neutral rating in a research note on Tuesday, May 21st. Wells Fargo & Company increased their target price on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an overweight rating in a research note on Tuesday. JMP Securities reissued a market outperform rating and issued a $380.00 price target on shares of Palo Alto Networks in a research report on Tuesday. Finally, Truist Financial increased their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a buy rating in a research report on Tuesday. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $363.49.

Palo Alto Networks Trading Up 0.4 %

Shares of NASDAQ:PANW opened at $350.75 on Tuesday. Palo Alto Networks has a 1 year low of $224.64 and a 1 year high of $380.84. The firm has a fifty day moving average price of $330.16 and a 200 day moving average price of $311.49. The stock has a market capitalization of $113.57 billion, a PE ratio of 50.98, a P/E/G ratio of 4.40 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts forecast that Palo Alto Networks will post 2.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the transaction, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the sale, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the sale, the chief accounting officer now directly owns 24,982 shares in the company, valued at $8,443,916. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 366,372 shares of company stock valued at $118,440,693. 3.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palo Alto Networks

Institutional investors and hedge funds have recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks in the 1st quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its position in shares of Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares in the last quarter. Ulland Investment Advisors LLC acquired a new position in shares of Palo Alto Networks during the 1st quarter worth approximately $30,000. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Palo Alto Networks during the 4th quarter worth approximately $31,000. 79.82% of the stock is owned by institutional investors.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.