Palo Alto Networks, Inc. (NASDAQ:PANW) Receives $372.28 Average Target Price from Analysts

Palo Alto Networks, Inc. (NASDAQ:PANW) has earned a consensus rating of “Moderate Buy” from the forty-two analysts that are covering the stock, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation, thirty have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $372.28.

PANW has been the subject of a number of research reports. Rosenblatt Securities lifted their target price on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. BTIG Research boosted their price objective on Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Bank of America boosted their price objective on Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Sanford C. Bernstein boosted 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, The Goldman Sachs Group boosted their price target on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 66,666 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the completion of the sale, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at $219,505,142.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Nikesh Arora sold 66,666 shares of Palo Alto Networks stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the transaction, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the transaction, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 269,866 shares of company stock valued at $88,620,447. 3.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palo Alto Networks

Hedge funds have recently bought and sold shares of the stock. Wesbanco Bank Inc. increased its stake in Palo Alto Networks by 2.9% in the third quarter. Wesbanco Bank Inc. now owns 55,282 shares of the network technology company’s stock valued at $18,895,000 after purchasing an additional 1,533 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Palo Alto Networks in the third quarter worth about $88,000. Grove Bank & Trust grew its stake in shares of Palo Alto Networks by 18.4% in the third quarter. Grove Bank & Trust now owns 251 shares of the network technology company’s stock valued at $86,000 after buying an additional 39 shares in the last quarter. Elmwood Wealth Management Inc. raised its stake in shares of Palo Alto Networks by 58.9% during the third quarter. Elmwood Wealth Management Inc. now owns 1,351 shares of the network technology company’s stock valued at $462,000 after purchasing an additional 501 shares during the period. Finally, Fiduciary Alliance LLC purchased a new stake in Palo Alto Networks during the 3rd quarter worth $541,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

PANW opened at $373.91 on Friday. The business’s 50-day moving average is $343.80 and its two-hundred day moving average is $320.63. Palo Alto Networks has a 1 year low of $233.81 and a 1 year high of $380.84. The firm has a market capitalization of $121.07 billion, a PE ratio of 54.35, a price-to-earnings-growth ratio of 5.26 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. As a group, sell-side analysts expect that Palo Alto Networks will post 3.56 EPS for the current year.

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.