Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $425.00

Palo Alto Networks (NASDAQ:PANW) had its price target raised by Truist Financial from $400.00 to $425.00 in a report released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the network technology company’s stock.

Other research analysts also recently issued research reports about the stock. Oppenheimer raised their target price on shares of Palo Alto Networks from $410.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. BNP Paribas initiated coverage on shares of Palo Alto Networks in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 price objective on the stock. OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. Barclays lifted their price objective on shares of Palo Alto Networks from $410.00 to $425.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Evercore ISI lifted their price objective on shares of Palo Alto Networks from $395.00 to $455.00 and gave the stock an “outperform” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $391.92.

Palo Alto Networks Price Performance

Shares of PANW opened at $392.89 on Monday. The firm has a market capitalization of $127.92 billion, a price-to-earnings ratio of 54.19, a PEG ratio of 5.61 and a beta of 1.12. The company has a 50-day moving average of $362.55 and a 200 day moving average of $338.41. Palo Alto Networks has a 1-year low of $258.17 and a 1-year high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Wednesday, November 20th. The network technology company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.08. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. On average, equities analysts anticipate that Palo Alto Networks will post 3.56 earnings per share for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This represents a 11.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. The trade was a 3.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,252 shares of company stock valued at $89,041,637 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palo Alto Networks

A number of hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after buying an additional 3,249,594 shares during the last quarter. Jennison Associates LLC lifted its position in Palo Alto Networks by 50.1% in the third quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock valued at $1,075,718,000 after buying an additional 1,050,173 shares during the last quarter. Swedbank AB acquired a new position in Palo Alto Networks in the first quarter valued at about $177,933,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Palo Alto Networks in the third quarter valued at about $174,124,000. Finally, Altshuler Shaham Ltd lifted its position in Palo Alto Networks by 444,100.0% in the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after buying an additional 444,100 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

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.