Palo Alto Networks (NASDAQ:PANW) PT Raised to $364.00 at Sanford C. Bernstein

Palo Alto Networks (NASDAQ:PANW) had its price objective lifted by Sanford C. Bernstein from $335.00 to $364.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the network technology company’s stock.

PANW has been the subject of several other research reports. Westpark Capital reaffirmed a hold rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Redburn Atlantic upped their target price on Palo Alto Networks from $275.00 to $350.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Truist Financial raised their price target on Palo Alto Networks from $330.00 to $385.00 and gave the company a buy rating in a research note on Tuesday, February 20th. Loop Capital downgraded Palo Alto Networks from a buy rating to a hold rating and set a $300.00 price objective for the company. in a report on Wednesday, February 21st. Finally, Oppenheimer increased their target price on shares of Palo Alto Networks from $305.00 to $330.00 and gave the stock an outperform rating in a report on Wednesday, April 17th. Twelve equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of Moderate Buy and an average price target of $317.45.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $311.44 on Tuesday. Palo Alto Networks has a fifty-two week low of $194.08 and a fifty-two week high of $380.84. The company has a market cap of $100.84 billion, a price-to-earnings ratio of 45.27, a PEG ratio of 5.03 and a beta of 1.18. The business’s 50 day moving average price is $289.58 and its 200-day moving average price is $299.15.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. Sell-side analysts predict that Palo Alto Networks will post 2.77 earnings per share for the current year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The disclosure for this sale can be found here. Insiders sold a total of 278,326 shares of company stock valued at $80,147,130 over the last 90 days. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Palo Alto Networks

A number of institutional investors have recently modified their holdings of the business. Koesten Hirschmann & Crabtree INC. acquired a new position in Palo Alto Networks in the 1st quarter worth about $49,000. BigSur Wealth Management LLC raised its stake in shares of Palo Alto Networks by 110.2% during the 1st quarter. BigSur Wealth Management LLC now owns 22,505 shares of the network technology company’s stock worth $6,394,000 after buying an additional 11,800 shares during the period. Swedbank AB acquired a new position in shares of Palo Alto Networks during the 1st quarter worth approximately $177,933,000. Sanibel Captiva Trust Company Inc. lifted its position in shares of Palo Alto Networks by 56.9% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 7,915 shares of the network technology company’s stock valued at $2,249,000 after buying an additional 2,870 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Palo Alto Networks in the 1st quarter valued at $53,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

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.