Palo Alto Networks (NASDAQ:PANW) Now Covered by Cantor Fitzgerald

Stock analysts at Cantor Fitzgerald initiated coverage on shares of Palo Alto Networks (NASDAQ:PANW) in a report released on Thursday, StockNewsAPI reports. The firm set an “overweight” rating and a $415.00 price target on the network technology company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 15.44% from the company’s current price.

A number of other equities analysts also recently issued reports on PANW. DA Davidson increased their price target on Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Needham & Company LLC increased their price objective on Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. TD Cowen increased their price objective on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Sanford C. Bernstein raised their price target on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, Stifel Nicolaus lifted their target price on Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $378.49.

Palo Alto Networks Stock Down 0.0 %

PANW traded down $0.01 during midday trading on Thursday, reaching $359.50. The company had a trading volume of 1,081,334 shares, compared to its average volume of 3,938,040. Palo Alto Networks has a 1 year low of $233.81 and a 1 year high of $384.00. The business has a 50-day moving average of $352.23 and a two-hundred day moving average of $328.16. The company has a market cap of $117.05 billion, a P/E ratio of 49.55, a P/E/G ratio of 5.31 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results 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 firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts predict that Palo Alto Networks will post 3.57 EPS for the current year.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the transaction, the director now directly owns 31,517 shares in the company, valued at $10,983,359.33. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,252 shares of company stock worth $107,138,877. 3.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palo Alto Networks

A number of large investors have recently modified their holdings of the stock. Capital Advisors Ltd. LLC increased its stake in Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 41 shares in the last quarter. Sound Income Strategies LLC grew its position 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 purchasing an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its stake in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks during the 1st quarter worth about $25,000. Finally, First PREMIER Bank raised its stake in Palo Alto Networks by 48.4% in the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after purchasing an additional 31 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Company Profile

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.