Palo Alto Networks (NASDAQ:PANW) PT Raised to $410.00

Palo Alto Networks (NASDAQ:PANW) had its price objective increased by research analysts at Barclays from $370.00 to $410.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the network technology company’s stock. Barclays‘s price objective would indicate a potential upside of 9.38% from the stock’s previous close.

A number of other brokerages also recently weighed in on PANW. Morgan Stanley boosted their target price on shares of Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Piper Sandler boosted their price objective on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Susquehanna upped their price objective on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, The Goldman Sachs Group upped their price target on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $375.79.

Palo Alto Networks Trading Down 0.4 %

NASDAQ PANW opened at $374.83 on Thursday. The firm has a market cap of $122.04 billion, a price-to-earnings ratio of 51.70, a PEG ratio of 5.42 and a beta of 1.13. Palo Alto Networks has a 1-year low of $233.81 and a 1-year high of $380.84. The company has a 50 day moving average of $348.67 and a 200-day moving average of $322.67.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. On average, analysts forecast that Palo Alto Networks will post 3.56 earnings per share for the current year.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,452 shares of company stock worth $118,643,279 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Palo Alto Networks

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks during the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. raised its position in Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 67 shares during the last quarter. Central Bank & Trust Co. grew its position in shares of Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the period. Finally, Cape Investment Advisory Inc. increased its stake in shares of Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

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.