Weekly Investment Analysts’ Ratings Changes for Palo Alto Networks (PANW)

Posted by Jared Coughlin on Nov 15th, 2024

Palo Alto Networks (NASDAQ: PANW) recently received a number of ratings updates from brokerages and research firms:

11/15/2024 – Palo Alto Networks had its price target raised by analysts at Robert W. Baird from $385.00 to $425.00. They now have an “outperform” rating on the stock.
11/14/2024 – Palo Alto Networks had its price target raised by analysts at Stifel Nicolaus from $385.00 to $440.00. They now have a “buy” rating on the stock.
11/11/2024 – Palo Alto Networks had its price target raised by analysts at Barclays PLC from $410.00 to $425.00. They now have an “overweight” rating on the stock.
11/7/2024 – Palo Alto Networks had its “negative” rating reaffirmed by analysts at OTR Global.
11/4/2024 – Palo Alto Networks had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $380.00 price target on the stock.
11/1/2024 – Palo Alto Networks was upgraded by analysts at Cantor Fitzgerald to a “strong-buy” rating.
10/31/2024 – Palo Alto Networks is now covered by analysts at Cantor Fitzgerald. They set an “overweight” rating and a $415.00 price target on the stock.
10/22/2024 – Palo Alto Networks had its price target raised by analysts at Oppenheimer Holdings Inc. from $410.00 to $450.00. They now have an “outperform” rating on the stock.
10/18/2024 – Palo Alto Networks had its price target raised by analysts at KeyCorp from $400.00 to $435.00. They now have an “overweight” rating on the stock.
10/17/2024 – Palo Alto Networks had its price target raised by analysts at Barclays PLC from $370.00 to $410.00. They now have an “overweight” rating on the stock.
10/11/2024 – Palo Alto Networks had its price target raised by analysts at Morgan Stanley from $390.00 to $421.00. They now have an “overweight” rating on the stock.
10/8/2024 – Palo Alto Networks is now covered by analysts at BNP Paribas. They set an “outperform” rating and a $410.00 price target on the stock.
10/8/2024 – Palo Alto Networks had its price target raised by analysts at The Goldman Sachs Group, Inc. from $376.00 to $425.00. They now have a “buy” rating on the stock.

Palo Alto Networks Trading Down 1.8 %

PANW traded down $7.02 during trading on Friday, hitting $387.37. The company’s stock had a trading volume of 876,918 shares, compared to its average volume of 3,844,012. The firm has a market capitalization of $126.13 billion, a price-to-earnings ratio of 53.43, a P/E/G ratio of 5.84 and a beta of 1.12. The business’s fifty day simple moving average is $358.84 and its 200 day simple moving average is $335.42. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $408.53.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. The trade was a 11.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the sale, the director now directly owns 41,517 shares of the company’s stock, valued at $14,175,564.48. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,252 shares of company stock worth $89,383,077 in the last 90 days. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Palo Alto Networks

A number of hedge funds have recently modified their holdings of the company. Tradewinds LLC. increased its holdings in shares of Palo Alto Networks by 1.2% during the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after buying an additional 28 shares during the last quarter. Kathmere Capital Management LLC grew its position in Palo Alto Networks by 3.4% in the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after acquiring an additional 30 shares during the period. FLC Capital Advisors increased its stake in Palo Alto Networks by 0.7% during the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after acquiring an additional 30 shares during the last quarter. Cromwell Holdings LLC raised its position in Palo Alto Networks by 3.0% in the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after purchasing an additional 30 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its stake in shares of Palo Alto Networks by 9.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

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.