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

Palo Alto Networks (NASDAQ:PANW) had its target price increased by Barclays from $410.00 to $425.00 in a report released on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the network technology company’s stock.

A number of other research firms have also commented on PANW. TD Cowen increased their price target on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Wells Fargo & Company raised their price target on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Sanford C. Bernstein upped their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Truist Financial lifted their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley upped their target price on Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $381.56.

Palo Alto Networks Stock Down 2.0 %

Shares of PANW opened at $394.39 on Monday. The business’s fifty day moving average is $357.82 and its 200 day moving average is $335.01. Palo Alto Networks has a 12-month low of $234.15 and a 12-month high of $408.53. The stock has a market cap of $128.41 billion, a P/E ratio of 54.40, a P/E/G ratio of 5.84 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the company earned $0.80 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. On average, analysts expect that Palo Alto Networks will post 3.56 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the sale, the executive vice president now owns 159,009 shares in the company, valued at $54,854,924.82. This represents a 27.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 11.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,252 shares of company stock valued at $89,383,077. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Community Bank N.A. boosted its position in Palo Alto Networks by 5.0% during the third quarter. Community Bank N.A. now owns 2,573 shares of the network technology company’s stock worth $879,000 after purchasing an additional 122 shares in the last quarter. Concentric Capital Strategies LP grew its position in shares of Palo Alto Networks by 220.5% in the third quarter. Concentric Capital Strategies LP now owns 16,481 shares of the network technology company’s stock valued at $5,633,000 after purchasing an additional 11,339 shares during the period. Beacon Investment Advisory Services Inc. increased its stake in shares of Palo Alto Networks by 1.0% during the third quarter. Beacon Investment Advisory Services Inc. now owns 50,359 shares of the network technology company’s stock worth $17,213,000 after purchasing an additional 484 shares in the last quarter. Beck Capital Management LLC raised its position in shares of Palo Alto Networks by 26.1% during the 3rd quarter. Beck Capital Management LLC now owns 20,384 shares of the network technology company’s stock worth $6,967,000 after purchasing an additional 4,215 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in Palo Alto Networks by 406.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 29,744 shares of the network technology company’s stock valued at $10,166,000 after buying an additional 23,873 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

About Palo Alto Networks

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.