Palo Alto Networks (NASDAQ:PANW) Stock Price Up 1.6% (2024)

Palo Alto Networks, Inc. (NASDAQ:PANW – Get Free Report)’s share price traded up 1.6% on Tuesday . The stock traded as high as $321.79 and last traded at $321.59. 351,459 shares were traded during trading, a decline of 93% from the average session volume of 4,848,596 shares. The stock had previously closed at $316.68.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PANW shares. Citigroup boosted their price target on Palo Alto Networks from $335.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Sanford C. Bernstein upped their target price on shares of Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Oppenheimer reiterated an “outperform” rating and set a $330.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 21st. Needham & Company LLC reissued a “buy” rating and set a $345.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Finally, DA Davidson assumed coverage on shares of Palo Alto Networks in a research report on Friday, June 21st. They set a “buy” rating and a $380.00 target price on the stock. Twelve investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $324.17.

View Our Latest Analysis on PANW

Palo Alto Networks Stock Up 0.8 %

The firm’s 50 day simple moving average is $303.68 and its 200 day simple moving average is $306.50. The company has a market cap of $105.32 billion, a price-to-earnings ratio of 47.28, a price-to-earnings-growth ratio of 4.94 and a beta of 1.10.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last posted its earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period last year, the firm earned $0.38 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. Analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 121,276 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $49,895,983.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Lee Klarich sold 121,276 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at $49,895,983.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John P. Key sold 2,163 shares of Palo Alto Networks stock in a transaction on Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the transaction, the director now owns 12,639 shares in the company, valued at $3,860,076.99. The disclosure for this sale can be found here. Insiders sold 258,182 shares of company stock valued at $74,850,597 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

Institutional Trading of Palo Alto Networks

Large investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks during the 1st quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Webster Bank N. A. boosted its position in shares of Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Finally, Cedar Mountain Advisors LLC raised its holdings in Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after buying an additional 47 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Company Profile

(Get Free Report)

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.

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