Wolfe Research Cuts Palo Alto Networks (NASDAQ:PANW) Price Target to $238.00

Palo Alto Networks (NASDAQ:PANWGet Rating) had its price target lowered by research analysts at Wolfe Research to $238.00 in a research note issued on Wednesday, September 14th, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the network technology company’s stock. Wolfe Research’s price objective would indicate a potential upside of 45.91% from the company’s current price.

Several other research firms also recently commented on PANW. Royal Bank of Canada lifted their price target on shares of Palo Alto Networks from $226.67 to $233.33 in a research note on Tuesday, August 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $274.33 target price on shares of Palo Alto Networks in a research note on Wednesday, September 14th. BMO Capital Markets lifted their target price on shares of Palo Alto Networks from $216.67 to $225.00 in a research note on Tuesday, August 23rd. Guggenheim boosted their price objective on shares of Palo Alto Networks from $208.33 to $213.33 and gave the company a “buy” rating in a research report on Tuesday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palo Alto Networks from $201.67 to $208.33 in a research report on Tuesday, August 23rd. Four equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.79.

Palo Alto Networks Trading Down 1.8 %

Shares of PANW stock traded down $3.07 during trading hours on Wednesday, hitting $163.11. 57,506 shares of the company’s stock were exchanged, compared to its average volume of 3,907,362. The company has a market capitalization of $48.80 billion, a PE ratio of -183.29, a PEG ratio of 8.05 and a beta of 1.13. Palo Alto Networks has a 12-month low of $140.52 and a 12-month high of $213.63. The business’s 50 day simple moving average is $182.39 and its 200-day simple moving average is $180.69.

Palo Alto Networks (NASDAQ:PANWGet Rating) last posted its quarterly earnings results on Monday, August 22nd. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.76 by $0.04. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. Palo Alto Networks had a negative net margin of 4.85% and a negative return on equity of 42.61%. The business’s revenue was up 27.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.21) earnings per share. Equities analysts anticipate that Palo Alto Networks will post 0.68 EPS for the current year.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $501.62, for a total transaction of $6,019,440.00. Following the completion of the transaction, the executive vice president now directly owns 684,273 shares in the company, valued at $343,245,022.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $501.62, for a total value of $6,019,440.00. Following the completion of the sale, the executive vice president now directly owns 684,273 shares in the company, valued at $343,245,022.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nikesh Arora sold 12,500 shares of Palo Alto Networks stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $554.56, for a total value of $6,932,000.00. Following the completion of the sale, the chief executive officer now directly owns 462,514 shares in the company, valued at $256,491,763.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,034 shares of company stock worth $23,954,654. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palo Alto Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PANW. Dimensional Fund Advisors LP raised its holdings in shares of Palo Alto Networks by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 109,216 shares of the network technology company’s stock valued at $60,809,000 after buying an additional 499 shares during the period. Confluence Wealth Services Inc. acquired a new position in shares of Palo Alto Networks during the 4th quarter worth about $43,000. Exencial Wealth Advisors LLC boosted its position in shares of Palo Alto Networks by 31.8% during the 4th quarter. Exencial Wealth Advisors LLC now owns 555 shares of the network technology company’s stock worth $309,000 after acquiring an additional 134 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Palo Alto Networks by 0.8% during the 4th quarter. Private Advisor Group LLC now owns 4,950 shares of the network technology company’s stock worth $2,756,000 after acquiring an additional 39 shares in the last quarter. Finally, Stonegate Investment Group LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter worth about $347,000. Institutional investors and hedge funds own 86.17% of the company’s stock.

Palo Alto Networks Company Profile

(Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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