Truist Financial Lowers Palo Alto Networks (NASDAQ:PANW) Price Target to $205.00

Palo Alto Networks (NASDAQ:PANW) had its price objective reduced by Truist Financial from $213.00 to $205.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the network technology company’s stock.

Several other equities research analysts have also weighed in on the stock. BTIG Research lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. KeyCorp upped their price objective on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Scotiabank boosted their target price on Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Evercore ISI decreased their price target on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. Finally, Morgan Stanley set a $230.00 price objective on Palo Alto Networks in a research report on Tuesday, March 18th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $204.27.

Palo Alto Networks Stock Up 1.1 %

NASDAQ:PANW opened at $173.18 on Monday. The firm has a 50-day moving average price of $186.72 and a 200 day moving average price of $185.38. The firm has a market capitalization of $114.66 billion, a PE ratio of 97.57, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. Palo Alto Networks has a 12-month low of $132.50 and a 12-month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, research analysts expect that Palo Alto Networks will post 1.76 EPS for the current year.

Insider Activity

In other news, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the sale, the chief accounting officer now directly owns 47,976 shares in the company, valued at $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 120,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the transaction, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,122,864 shares of company stock worth $204,315,811 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Palo Alto Networks

Several institutional investors have recently bought and sold shares of PANW. Itau Unibanco Holding S.A. bought a new stake in shares of Palo Alto Networks in the third quarter worth $29,000. True Wealth Design LLC increased its stake in Palo Alto Networks by 2,933.3% in the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock valued at $31,000 after buying an additional 88 shares during the last quarter. Transce3nd LLC bought a new stake in Palo Alto Networks during the 4th quarter worth about $25,000. SJS Investment Consulting Inc. boosted its stake in shares of Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after buying an additional 69 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL grew its holdings in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. 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.