Palo Alto Networks (NASDAQ:PANW) Given New $435.00 Price Target at Susquehanna

Palo Alto Networks (NASDAQ:PANW) had its price target increased by Susquehanna from $420.00 to $435.00 in a report published on Thursday, MarketBeat Ratings reports. The firm currently has a positive rating on the network technology company’s stock.

PANW has been the topic of a number of other research reports. Jefferies Financial Group raised their price target on Palo Alto Networks from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday. TD Cowen upped their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. KeyCorp boosted their target price on Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Piper Sandler upped their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Barclays increased their price objective on shares of Palo Alto Networks from $410.00 to $425.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $401.78.

Palo Alto Networks Stock Down 4.4 %

PANW traded down $17.52 on Thursday, hitting $380.18. 1,653,304 shares of the company traded hands, compared to its average volume of 3,849,889. The stock has a market capitalization of $123.79 billion, a PE ratio of 54.82, a PEG ratio of 5.63 and a beta of 1.12. The company has a 50 day moving average of $363.59 and a 200-day moving average of $338.82. Palo Alto Networks has a 12-month low of $260.09 and a 12-month high of $408.53.

Palo Alto Networks’s stock is set to split on Monday, December 16th. The 2-1 split was announced on Wednesday, November 20th. The newly issued shares will be issued to shareholders after the closing bell on Friday, December 13th.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Wednesday, November 20th. The network technology company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.08. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. On average, research analysts anticipate that Palo Alto Networks will post 3.56 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. This represents a 3.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now owns 31,517 shares in the company, valued at $10,983,359.33. The trade was a 24.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,252 shares of company stock valued at $89,041,637. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Palo Alto Networks

Large investors have recently made changes to their positions in the company. Tradewinds LLC. boosted its position in shares of Palo Alto Networks by 1.2% during the third quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock valued at $791,000 after buying an additional 28 shares during the period. Kathmere Capital Management LLC grew its holdings in shares of Palo Alto Networks by 3.4% in the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares during the last quarter. FLC Capital Advisors increased its stake in Palo Alto Networks by 0.7% in the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after buying an additional 30 shares during the period. Cromwell Holdings LLC boosted its position in Palo Alto Networks by 3.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after buying an additional 30 shares during the period. Finally, Rosenberg Matthew Hamilton grew its stake in Palo Alto Networks by 9.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after acquiring an additional 30 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

About Palo Alto Networks

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.