Palo Alto Networks (NYSE:PANW) had its target price boosted by research analysts at Credit Suisse Group from $230.00 to $270.00 in a research note issued on Tuesday, The Fly reports. The firm presently has a “neutral” rating on the network technology company’s stock. Credit Suisse Group’s price target would indicate a potential downside of 3.97% from the stock’s current price.
Several other equities analysts have also issued reports on the company. ValuEngine raised Palo Alto Networks from a “hold” rating to a “buy” rating in a report on Monday, October 12th. Monness Crespi & Hardt raised their price objective on Palo Alto Networks from $295.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup raised their price objective on Palo Alto Networks from $265.00 to $315.00 in a report on Thursday, August 20th. BTIG Research raised Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $313.00 price objective on the stock in a report on Tuesday, August 4th. Finally, Piper Sandler raised their price objective on Palo Alto Networks from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $301.88.
Palo Alto Networks stock traded up $2.65 during midday trading on Tuesday, reaching $281.15. The company’s stock had a trading volume of 39,237 shares, compared to its average volume of 1,334,547. Palo Alto Networks has a fifty-two week low of $125.47 and a fifty-two week high of $279.06. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 2.80. The company has a market cap of $26.45 billion, a P/E ratio of -102.59 and a beta of 1.17. The business has a 50-day simple moving average of $243.50 and a 200-day simple moving average of $239.93.
Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Monday, November 16th. The network technology company reported $1.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.29. Palo Alto Networks had a negative return on equity of 9.61% and a negative net margin of 7.83%. As a group, equities analysts forecast that Palo Alto Networks will post -0.21 earnings per share for the current year.
In other news, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $258.54, for a total transaction of $3,102,480.00. Following the completion of the sale, the executive vice president now directly owns 930,726 shares in the company, valued at approximately $240,629,900.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 7,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $247.58, for a total transaction of $1,733,060.00. Following the sale, the executive vice president now owns 285,639 shares of the company’s stock, valued at $70,718,503.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,134 shares of company stock valued at $12,035,563. Insiders own 2.30% of the company’s stock.
Several institutional investors have recently modified their holdings of PANW. Wedbush Securities Inc. raised its position in shares of Palo Alto Networks by 22.8% during the 2nd quarter. Wedbush Securities Inc. now owns 1,597 shares of the network technology company’s stock worth $367,000 after purchasing an additional 296 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Palo Alto Networks by 2.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 35,969 shares of the network technology company’s stock worth $8,261,000 after acquiring an additional 851 shares during the period. Kistler Tiffany Companies LLC grew its stake in Palo Alto Networks by 17.2% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 1,164 shares of the network technology company’s stock worth $267,000 after acquiring an additional 171 shares during the period. Tributary Capital Management LLC purchased a new stake in Palo Alto Networks in the 2nd quarter worth approximately $2,343,000. Finally, Belpointe Asset Management LLC grew its stake in Palo Alto Networks by 13.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 739 shares of the network technology company’s stock worth $170,000 after acquiring an additional 85 shares during the period. Hedge funds and other institutional investors own 78.50% of the company’s stock.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software deployed on an end-customer's network as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.
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