Palo Alto Networks (NASDAQ:PANW) Given New $430.00 Price Target at Bank of America

Palo Alto Networks (NASDAQ:PANW) had its price objective increased by equities research analysts at Bank of America from $400.00 to $430.00 in a research note issued on Thursday,Briefing.com Automated Import reports. The firm presently has a “neutral” rating on the network technology company’s stock. Bank of America‘s price target suggests a potential upside of 9.45% from the company’s current price.

PANW has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Cantor Fitzgerald upgraded Palo Alto Networks to a “strong-buy” rating in a report on Friday, November 1st. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Piper Sandler boosted their price objective on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Evercore ISI boosted their price objective on Palo Alto Networks from $395.00 to $455.00 and gave the stock an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $402.56.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $392.89 on Thursday. The stock has a market capitalization of $127.92 billion, a price-to-earnings ratio of 54.19, a PEG ratio of 5.63 and a beta of 1.12. The business has a 50-day moving average of $362.55 and a 200-day moving average of $338.41. Palo Alto Networks has a fifty-two week low of $258.17 and a fifty-two week high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Wednesday, November 20th. The network technology company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter last year, the company posted $0.63 earnings per share. Palo Alto Networks’s quarterly revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts expect that Palo Alto Networks will post 3.56 EPS for the current year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the sale, the director now directly owns 31,517 shares in the company, valued at $10,983,359.33. This trade represents a 24.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,252 shares of company stock valued at $89,041,637 over the last 90 days. 2.50% of the stock is owned by insiders.

Institutional Trading of Palo Alto Networks

Institutional investors have recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its position in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 41 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Palo Alto Networks during the third quarter valued at about $29,000. Sound Income Strategies LLC raised its holdings in shares of Palo Alto Networks by 352.6% during the third 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 during the period. Strategic Investment Solutions Inc. IL raised its holdings 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 valued at $29,000 after purchasing an additional 55 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks during the first quarter valued at about $25,000. Institutional investors 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.