Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $410.00 at Barclays

Palo Alto Networks (NASDAQ:PANW) had its target price boosted by Barclays from $370.00 to $410.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the network technology company’s stock.

Several other research firms also recently issued reports on PANW. Susquehanna boosted their price target on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research note on Thursday, September 5th. Oppenheimer lifted their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Royal Bank of Canada increased their target price on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group lifted their price target on shares of Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, KeyCorp increased their price target on Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.28.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $376.15 on Thursday. Palo Alto Networks has a fifty-two week low of $233.81 and a fifty-two week high of $380.84. The firm has a market capitalization of $121.80 billion, a PE ratio of 54.67, a P/E/G ratio of 5.26 and a beta of 1.13. The company’s 50-day moving average is $347.80 and its 200-day moving average is $322.01.

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

Insider Buying and Selling

In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,452 shares of company stock valued at $118,643,279 over the last ninety days. 3.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palo Alto Networks

Several large investors have recently added to or reduced their stakes in PANW. Pathway Financial Advisers LLC bought a new position in shares of Palo Alto Networks in the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in 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 worth $28,000 after acquiring an additional 96 shares during the period. Sound Income Strategies LLC boosted its position in Palo Alto Networks by 352.6% in the third 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 during the last quarter. Central Bank & Trust Co. boosted its position in Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Finally, Cape Investment Advisory Inc. grew its stake in Palo Alto Networks by 1,111.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. 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.