Palo Alto Networks (NASDAQ:PANW) Given New $205.00 Price Target at Truist Financial

Palo Alto Networks (NASDAQ:PANW) had its price objective lowered by stock analysts at Truist Financial from $213.00 to $205.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the network technology company’s stock. Truist Financial’s target price would indicate a potential upside of 18.66% from the company’s previous close.

Several other equities research analysts have also weighed in on PANW. Barclays reduced their price objective on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Loop Capital decreased their price target on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. KeyCorp boosted their price objective on Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Guggenheim cut shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price for the company. in a report on Monday, January 6th. Finally, BTIG Research lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.87.

Palo Alto Networks Trading Down 1.0 %

Shares of Palo Alto Networks stock opened at $172.76 on Monday. Palo Alto Networks has a 52 week low of $132.50 and a 52 week high of $208.39. The stock has a market cap of $114.38 billion, a PE ratio of 97.33, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. The company’s 50-day moving average price is $187.39 and its two-hundred day moving average price is $185.49.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. On average, equities analysts predict that Palo Alto Networks will post 1.76 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 490,723 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. This represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Palo Alto Networks

Hedge funds and other institutional investors have recently modified their holdings of the stock. SJS Investment Consulting Inc. grew its position in Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after purchasing an additional 69 shares during the last quarter. Transce3nd LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $25,000. Valued Wealth Advisors LLC grew its position in Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after buying an additional 101 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its stake in Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Finally, Abound Wealth Management increased its stake in Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

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.