Palo Alto Networks (NASDAQ:PANW) PT Raised to $370.00

Palo Alto Networks (NASDAQ:PANW) had its price target upped by Barclays from $350.00 to $370.00 in a research note published on Tuesday, Benzinga reports. They currently have an overweight rating on the network technology company’s stock.

A number of other brokerages have also commented on PANW. Susquehanna upped their price target on shares of Palo Alto Networks from $325.00 to $340.00 and gave the company a positive rating in a research note on Tuesday, May 21st. TD Cowen upped their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a buy rating in a research note on Tuesday. BMO Capital Markets increased their target price on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an outperform rating in a research report on Tuesday. Argus increased their target price on shares of Palo Alto Networks from $336.00 to $348.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. Finally, Redburn Atlantic lowered shares of Palo Alto Networks from a buy rating to a neutral rating and decreased their target price for the stock from $350.00 to $325.00 in a research report on Thursday, July 18th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $363.49.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $350.75 on Tuesday. The firm 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. The company’s 50-day moving average is $330.16 and its 200-day moving average is $311.49. Palo Alto Networks has a fifty-two week low of $224.64 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 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 business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business earned $0.80 EPS. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, analysts expect that Palo Alto Networks will post 2.94 EPS for the current year.

Insider Activity at Palo Alto Networks

In related news, President William D. Jenkins, Jr. sold 1,475 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares in the company, valued at approximately $6,452,097.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President William D. Jenkins, Jr. sold 1,475 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares in the company, valued at $6,452,097.12. The disclosure for this sale can be found here. Insiders sold 366,372 shares of company stock worth $118,440,693 in the last three months. 3.30% of the stock is owned by insiders.

Institutional Trading of Palo Alto Networks

Several institutional investors have recently bought and sold shares of PANW. Norges Bank bought a new stake in Palo Alto Networks during the 4th quarter worth approximately $1,563,020,000. Vanguard Group Inc. lifted its position in shares of Palo Alto Networks by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after purchasing an additional 1,058,127 shares during the last quarter. Axiom Investors LLC DE lifted its position in shares of Palo Alto Networks by 359.3% during the fourth quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock worth $282,406,000 after purchasing an additional 749,199 shares during the last quarter. Swedbank AB bought a new stake in shares of Palo Alto Networks during the first quarter worth $177,933,000. Finally, Altshuler Shaham Ltd lifted its position in shares of Palo Alto Networks by 444,100.0% during the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after purchasing an additional 444,100 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

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.