Palo Alto Networks (NASDAQ:PANW) Receives Overweight Rating from Cantor Fitzgerald

Palo Alto Networks (NASDAQ:PANWGet Free Report)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a report released on Monday, MarketBeat reports. They currently have a $400.00 target price on the network technology company’s stock, up from their previous target price of $280.00. Cantor Fitzgerald’s price target points to a potential upside of 9.17% from the stock’s previous close.

A number of other research firms have also recently commented on PANW. Raymond James cut Palo Alto Networks from an “outperform” rating to a “market perform” rating in a research report on Monday, December 18th. JMP Securities lifted their price objective on Palo Alto Networks from $300.00 to $380.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 31st. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a report on Monday, January 29th. Sanford C. Bernstein started coverage on Palo Alto Networks in a report on Thursday, January 18th. They issued an “outperform” rating on the stock. Finally, KeyCorp lifted their price objective on Palo Alto Networks from $315.00 to $390.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Six research analysts have rated the stock with a hold rating and thirty-five have issued a buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $297.49.

Check Out Our Latest Analysis on Palo Alto Networks

Palo Alto Networks Stock Down 0.1 %

Shares of NASDAQ:PANW traded down $0.47 during trading on Monday, reaching $366.41. 3,262,885 shares of the company’s stock traded hands, compared to its average volume of 3,245,665. Palo Alto Networks has a fifty-two week low of $165.36 and a fifty-two week high of $380.84. The firm has a market cap of $115.53 billion, a PE ratio of 208.19, a P/E/G ratio of 5.04 and a beta of 1.26. The company has a 50-day simple moving average of $324.89 and a 200-day simple moving average of $273.24.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its earnings results on Wednesday, November 15th. The network technology company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. Palo Alto Networks had a return on equity of 48.58% and a net margin of 8.52%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.84 billion. On average, equities research analysts forecast that Palo Alto Networks will post 2.64 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $286.59, for a total value of $12,896,550.00. Following the completion of the sale, the executive vice president now directly owns 185,217 shares of the company’s stock, valued at $53,081,340.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Lee Klarich sold 45,000 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $286.59, for a total transaction of $12,896,550.00. Following the completion of the transaction, the executive vice president now directly owns 185,217 shares of the company’s stock, valued at $53,081,340.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikesh Arora sold 40,848 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $267.07, for a total transaction of $10,909,275.36. Following the transaction, the chief executive officer now directly owns 866,395 shares of the company’s stock, valued at $231,388,112.65. The disclosure for this sale can be found here. Insiders sold 419,426 shares of company stock worth $119,134,439 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Worth Asset Management LLC acquired a new stake in shares of Palo Alto Networks in the first quarter valued at approximately $26,000. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks during the fourth quarter worth approximately $27,000. Fortis Capital Advisors LLC acquired a new stake in Palo Alto Networks during the fourth quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in Palo Alto Networks during the second quarter worth approximately $28,000. Finally, First Pacific Financial boosted its position in Palo Alto Networks by 421.7% during the third quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. 85.69% of the stock is currently owned by institutional investors and hedge funds.

About Palo Alto Networks

(Get Free Report)

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.

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Analyst Recommendations for Palo Alto Networks (NASDAQ:PANW)

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