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

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

A number of other analysts have also weighed in on the company. JPMorgan Chase & Co. upped their target price on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Citigroup raised their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. BNP Paribas began coverage on shares of Palo Alto Networks in a report on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 price target on the stock. Finally, Robert W. Baird boosted their price objective on shares of Palo Alto Networks from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $390.39.

Palo Alto Networks Price Performance

PANW stock opened at $386.83 on Monday. Palo Alto Networks has a 1-year low of $249.56 and a 1-year high of $408.53. The business has a 50-day moving average price of $360.72 and a 200 day moving average price of $337.38. The company has a market capitalization of $125.95 billion, a P/E ratio of 53.36, a PEG ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate 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 business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts anticipate that Palo Alto Networks will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. The trade was a 27.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the transaction, the executive vice president now owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. This trade represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,252 shares of company stock valued at $89,041,637. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palo Alto Networks

Large investors have recently modified their holdings of the business. Capital Advisors Ltd. LLC boosted its position in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Palo Alto Networks in the 3rd quarter valued at about $29,000. Sound Income Strategies LLC lifted its stake in Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its position in shares of Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks during the first quarter worth approximately $25,000. 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.