Palo Alto Networks (PANW) – Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Palo Alto Networks (NASDAQ: PANW):

• 8/21/2024 – Palo Alto Networks had its price target raised by analysts at Bank of America Co. from $370.00 to $400.00. They now have a “neutral” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Scotiabank from $385.00 to $400.00. They now have a “sector outperform” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Barclays PLC from $350.00 to $370.00. They now have an “overweight” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Wells Fargo & Company from $385.00 to $416.00. They now have an “overweight” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Morgan Stanley from $360.00 to $390.00. They now have an “overweight” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at KeyCorp from $380.00 to $400.00. They now have an “overweight” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Oppenheimer Holdings Inc. from $390.00 to $410.00. They now have an “outperform” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at BMO Capital Markets from $334.00 to $390.00. They now have an “outperform” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Evercore ISI from $385.00 to $395.00. They now have an “outperform” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Sanford C. Bernstein from $364.00 to $399.00. They now have an “outperform” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Royal Bank of Canada from $390.00 to $410.00. They now have an “outperform” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at UBS Group AG from $345.00 to $355.00. They now have a “neutral” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Piper Sandler from $300.00 to $330.00. They now have a “neutral” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Northland Securities from $275.00 to $350.00. They now have a “market perform” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $380.00 price target on the stock.
• 8/20/2024 – Palo Alto Networks had its “hold” rating reaffirmed by analysts at Westpark Capital.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at The Goldman Sachs Group, Inc. from $330.00 to $376.00. They now have a “buy” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Citigroup Inc. from $385.00 to $395.00. They now have a “buy” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at TD Cowen from $350.00 to $400.00. They now have a “buy” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Truist Financial Co. from $350.00 to $400.00. They now have a “buy” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at DA Davidson from $380.00 to $415.00. They now have a “buy” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $330.00 to $395.00. They now have a “buy” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Needham & Company LLC from $345.00 to $385.00. They now have a “buy” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at Stifel Nicolaus from $360.00 to $385.00. They now have a “buy” rating on the stock.
• 8/20/2024 – Palo Alto Networks had its price target raised by analysts at BTIG Research from $366.00 to $395.00. They now have a “buy” rating on the stock.
• 8/19/2024 – Palo Alto Networks had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $350.00 price target on the stock.
• 8/19/2024 – Palo Alto Networks had its price target raised by analysts at Rosenblatt Securities from $300.00 to $345.00. They now have a “neutral” rating on the stock.
• 8/16/2024 – Palo Alto Networks had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $375.00 price target on the stock.
• 8/16/2024 – Palo Alto Networks had its price target raised by analysts at Robert W. Baird from $360.00 to $375.00. They now have an “outperform” rating on the stock.
• 8/15/2024 – Palo Alto Networks had its price target raised by analysts at JPMorgan Chase & Co. from $340.00 to $365.00. They now have an “overweight” rating on the stock.
• 8/14/2024 – Palo Alto Networks had its price target raised by analysts at Scotiabank from $337.00 to $385.00. They now have a “sector outperform” rating on the stock.
• 8/14/2024 – Palo Alto Networks had its “hold” rating reaffirmed by analysts at Westpark Capital.
• 8/14/2024 – Palo Alto Networks had its price target raised by analysts at Citigroup Inc. from $345.00 to $385.00. They now have a “buy” rating on the stock.
• 8/13/2024 – Palo Alto Networks had its price target raised by analysts at UBS Group AG from $300.00 to $345.00. They now have a “neutral” rating on the stock.
• 8/12/2024 – Palo Alto Networks had its price target raised by analysts at Stifel Nicolaus from $330.00 to $360.00. They now have a “buy” rating on the stock.
• 8/9/2024 – Palo Alto Networks had its price target raised by analysts at Barclays PLC from $325.00 to $350.00. They now have an “overweight” rating on the stock.
• 7/18/2024 – Palo Alto Networks was downgraded by analysts at Redburn Atlantic from a “buy” rating to a “neutral” rating. They now have a $325.00 price target on the stock, down previously from $350.00.
• 7/17/2024 – Palo Alto Networks had its price target lowered by analysts at KeyCorp from $384.00 to $380.00. They now have an “overweight” rating on the stock.

Palo Alto Networks Stock Performance

PANW opened at $347.12 on Tuesday. The firm’s fifty day moving average is $330.71 and its two-hundred day moving average is $310.77. The firm has a market cap of $112.40 billion, a PE ratio of 50.45, a price-to-earnings-growth ratio of 4.40 and a beta of 1.14. Palo Alto Networks, Inc. has a twelve month low of $224.64 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares of the company’s stock, valued at $14,175,564.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,475 shares of Palo Alto Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the transaction, the president now directly owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 366,372 shares of company stock valued at $118,440,693. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Palo Alto Networks

Hedge funds have recently modified their holdings of the stock. Beacon Pointe Advisors LLC lifted its stake in shares of Palo Alto Networks by 31.4% during the 4th quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock worth $33,038,000 after buying an additional 26,767 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Palo Alto Networks by 9.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock worth $7,291,000 after purchasing an additional 2,225 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Palo Alto Networks by 91.0% during the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock worth $478,000 after purchasing an additional 802 shares during the period. American National Bank raised its position in shares of Palo Alto Networks by 67.4% in the fourth quarter. American National Bank now owns 231 shares of the network technology company’s stock valued at $68,000 after buying an additional 93 shares in the last quarter. Finally, Smithfield Trust Co boosted its stake in shares of Palo Alto Networks by 2.3% in the fourth quarter. Smithfield Trust Co now owns 2,762 shares of the network technology company’s stock valued at $814,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

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.