Barclays Lowers Palo Alto Networks (NASDAQ:PANW) Price Target to $213.00

Palo Alto Networks (NASDAQ:PANW) had its price target reduced by analysts at Barclays from $425.00 to $213.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the network technology company’s stock. Barclays‘s price target points to a potential upside of 12.84% from the company’s previous close.

Several other equities research analysts have also recently issued reports on PANW. Evercore ISI raised their target price on Palo Alto Networks from $197.50 to $227.50 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Scotiabank raised their price objective on Palo Alto Networks from $192.50 to $200.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Truist Financial upped their target price on shares of Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a research report on Monday, November 18th. BNP Paribas started coverage on shares of Palo Alto Networks in a research report on Tuesday, October 8th. They set an “outperform” rating and a $205.00 price target for the company. Finally, Bank of America upped their price objective on shares of Palo Alto Networks from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.03.

Palo Alto Networks Stock Down 6.2 %

NASDAQ PANW opened at $188.76 on Tuesday. The business’s fifty day simple moving average is $191.80 and its 200-day simple moving average is $175.21. The firm has a market cap of $61.93 billion, a PE ratio of 24.58, a P/E/G ratio of 5.75 and a beta of 1.12. Palo Alto Networks has a 52 week low of $130.04 and a 52 week high of $207.24.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Wednesday, November 20th. The network technology company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. Palo Alto Networks’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. Research analysts expect that Palo Alto Networks will post 3.49 EPS for the current year.

Insider Buying and Selling

In related news, CEO Nikesh Arora sold 163,172 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $184.00, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now owns 1,237,430 shares of the company’s stock, valued at $227,680,932.85. This trade represents a 11.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nir Zuk sold 336,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $193.70, for a total value of $65,081,520.00. Following the sale, the executive vice president now directly owns 3,643,516 shares of the company’s stock, valued at approximately $705,730,831.62. This represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 571,172 shares of company stock worth $107,074,352 in the last quarter. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Capital Advisors Ltd. LLC increased its stake in Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 55 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Palo Alto Networks during the third quarter worth about $29,000. Finally, True Wealth Design LLC boosted its holdings in Palo Alto Networks by 2,933.3% in 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. Institutional investors and hedge funds own 79.82% of the company’s stock.

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.