Palo Alto Networks (NYSE:PANW) Given New $425.00 Price Target at Piper Sandler


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Palo Alto Networks (NYSE:PANW) had its price target raised by investment analysts at Piper Sandler from $400.00 to $425.00 in a report issued on Tuesday, Analyst Price Targets reports. The brokerage presently has an “overweight” rating on the network technology company’s stock. Piper Sandler’s price objective would indicate a potential upside of 13.52% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Robert W. Baird increased their target price on shares of Palo Alto Networks from $295.00 to $320.00 and gave the stock an “outperform” rating in a report on Tuesday, November 17th. DA Davidson increased their target price on shares of Palo Alto Networks from $325.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday. The Goldman Sachs Group raised their price objective on shares of Palo Alto Networks from $310.00 to $408.00 and gave the stock a “buy” rating in a report on Friday, January 8th. BMO Capital Markets upgraded shares of Palo Alto Networks from a “market perform” rating to an “outperform” rating and set a $455.00 price objective for the company in a report on Tuesday. Finally, Monness Crespi & Hardt raised their price objective on shares of Palo Alto Networks from $315.00 to $440.00 in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the company. Palo Alto Networks currently has a consensus rating of “Buy” and an average price target of $366.62.

Shares of NYSE:PANW traded down $9.97 on Tuesday, reaching $374.38. 103,973 shares of the company traded hands, compared to its average volume of 1,112,484. The business’s 50-day simple moving average is $372.13 and its 200 day simple moving average is $296.77. Palo Alto Networks has a 52 week low of $125.47 and a 52 week high of $403.00. The stock has a market capitalization of $35.77 billion, a P/E ratio of -120.83 and a beta of 1.50. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 4.18.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Sunday, February 21st. The network technology company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.12. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $985.90 million. Palo Alto Networks had a negative net margin of 8.36% and a negative return on equity of 8.66%. Palo Alto Networks’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. Sell-side analysts expect that Palo Alto Networks will post -1.69 EPS for the current fiscal year.

In other Palo Alto Networks news, CAO Jean Compeau sold 900 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, January 5th. The shares were sold at an average price of $347.37, for a total value of $312,633.00. Following the completion of the sale, the chief accounting officer now owns 23,266 shares of the company’s stock, valued at approximately $8,081,910.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Amit K. Singh sold 1,378 shares of Palo Alto Networks stock in a transaction that occurred on Friday, December 4th. The stock was sold at an average price of $302.86, for a total transaction of $417,341.08. Following the completion of the sale, the president now directly owns 132,539 shares of the company’s stock, valued at approximately $40,140,761.54. The disclosure for this sale can be found here. Insiders have sold 209,195 shares of company stock valued at $68,692,035 in the last three months. 2.30% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in PANW. CWM LLC increased its holdings in shares of Palo Alto Networks by 151.1% in the 3rd quarter. CWM LLC now owns 344 shares of the network technology company’s stock worth $84,000 after buying an additional 207 shares during the last quarter. NEXT Financial Group Inc bought a new stake in shares of Palo Alto Networks in the 3rd quarter worth about $212,000. MAI Capital Management increased its holdings in shares of Palo Alto Networks by 70.4% in the 3rd quarter. MAI Capital Management now owns 4,911 shares of the network technology company’s stock worth $1,202,000 after buying an additional 2,029 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC increased its holdings in shares of Palo Alto Networks by 171.6% in the 3rd quarter. Landsberg Bennett & Dubbaneh LLC now owns 6,917 shares of the network technology company’s stock worth $1,705,000 after buying an additional 4,370 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT bought a new stake in shares of Palo Alto Networks in the 3rd quarter worth about $1,441,000. Institutional investors and hedge funds own 80.76% 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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Analyst Recommendations for Palo Alto Networks (NYSE:PANW)

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