Palo Alto Networks, Inc. (NASDAQ:PANW – Get Free Report)’s stock price was up 4.3% during mid-day trading on Tuesday after Scotiabank raised their price target on the stock from $200.00 to $225.00. Scotiabank currently has a sector outperform rating on the stock. Palo Alto Networks traded as high as $186.15 and last traded at $184.77. Approximately 2,460,327 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 6,106,095 shares. The stock had previously closed at $177.11.
Other analysts have also recently issued reports about the company. Wells Fargo & Company upped their target price on Palo Alto Networks from $208.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. JMP Securities reiterated a “market outperform” rating and set a $208.00 price target on shares of Palo Alto Networks in a report on Tuesday, January 14th. Northland Securities reiterated a “market perform” rating and set a $185.00 price target (up from $175.00) on shares of Palo Alto Networks in a report on Thursday, November 21st. TD Cowen increased their price target on Palo Alto Networks from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets raised their target price on Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.85.
Read Our Latest Report on Palo Alto Networks
Insider Buying and Selling at Palo Alto Networks
Hedge Funds Weigh In On Palo Alto Networks
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC boosted its stake in Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 41 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Palo Alto Networks during the 3rd quarter valued at $29,000. Sound Income Strategies LLC boosted its stake in Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares in the last quarter. Finally, True Wealth Design LLC boosted its stake in Palo Alto Networks by 2,933.3% during the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 88 shares in the last quarter. 79.82% of the stock is owned by institutional investors.
Palo Alto Networks Stock Performance
The business has a 50 day simple moving average of $188.87 and a 200-day simple moving average of $178.81. The stock has a market capitalization of $123.17 billion, a P/E ratio of 48.88, a price-to-earnings-growth ratio of 5.07 and a beta of 1.14.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last issued its quarterly earnings results on Wednesday, November 20th. The network technology company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. Equities research analysts forecast that Palo Alto Networks, Inc. will post 1.74 EPS for the current fiscal year.
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.
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