Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $250.00 at Rosenblatt Securities

Palo Alto Networks (NASDAQ:PANW) had its target price lifted by Rosenblatt Securities from $225.00 to $250.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the network technology company’s stock.

A number of other brokerages have also recently issued reports on PANW. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 19th. Mizuho upped their target price on shares of Palo Alto Networks from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday. Truist Financial set a $220.00 price target on shares of Palo Alto Networks and gave the company a “buy” rating in a research report on Tuesday, August 19th. Robert W. Baird upped their price objective on Palo Alto Networks from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. Finally, Wedbush reissued an “outperform” rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Monday, September 15th. Twenty-nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $224.14.

Palo Alto Networks Stock Down 0.9%

PANW stock opened at $201.00 on Tuesday. The business has a 50 day moving average of $209.25 and a 200 day moving average of $197.42. The firm has a market cap of $137.48 billion, a PE ratio of 125.23, a price-to-earnings-growth ratio of 4.82 and a beta of 0.95. Palo Alto Networks has a twelve month low of $144.15 and a twelve month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 18th. The network technology company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. Palo Alto Networks had a return on equity of 17.66% and a net margin of 12.30%.The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, research analysts expect that Palo Alto Networks will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In other news, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $219.97, for a total value of $153,979.00. Following the transaction, the chief accounting officer directly owned 47,505 shares in the company, valued at $10,449,674.85. This trade represents a 1.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nikesh Arora sold 846,408 shares of Palo Alto Networks stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $204.06, for a total value of $172,718,016.48. Following the completion of the sale, the chief executive officer directly owned 275,013 shares of the company’s stock, valued at $56,119,152.78. The trade was a 75.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,215,830 shares of company stock worth $249,160,428. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PANW. Darwin Wealth Management LLC purchased a new position in shares of Palo Alto Networks in the second quarter worth approximately $25,000. Whipplewood Advisors LLC raised its position in Palo Alto Networks by 6,400.0% in the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after acquiring an additional 128 shares during the period. Briaud Financial Planning Inc bought a new position in Palo Alto Networks in the second quarter worth approximately $28,000. Howard Hughes Medical Institute purchased a new position in shares of Palo Alto Networks during the 2nd quarter worth $29,000. Finally, Winch Advisory Services LLC grew its position in shares of Palo Alto Networks by 96.1% during the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 73 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

About Palo Alto Networks

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.