BTIG Research Forecasts Strong Price Appreciation for Palo Alto Networks (NASDAQ:PANW) Stock

Palo Alto Networks (NASDAQ:PANWGet Free Report) had its price target upped by BTIG Research from $216.00 to $268.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the network technology company’s stock. BTIG Research’s target price suggests a potential upside of 2.85% from the stock’s current price.

Several other research analysts also recently commented on PANW. Morgan Stanley lifted their target price on Palo Alto Networks from $223.00 to $253.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. UBS Group set a $183.00 target price on Palo Alto Networks in a report on Thursday, February 19th. JPMorgan Chase & Co. cut their target price on Palo Alto Networks from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Stifel Nicolaus lifted their target price on Palo Alto Networks from $185.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $265.00 target price on shares of Palo Alto Networks in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.53.

Get Our Latest Stock Report on Palo Alto Networks

Palo Alto Networks Price Performance

NASDAQ PANW opened at $260.58 on Tuesday. Palo Alto Networks has a twelve month low of $139.57 and a twelve month high of $261.41. The company has a market cap of $212.63 billion, a price-to-earnings ratio of 143.97, a price-to-earnings-growth ratio of 9.39 and a beta of 0.77. The business’s fifty day moving average is $185.14 and its 200 day moving average is $182.38.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora purchased 68,085 shares of the company’s stock in a transaction that occurred on Friday, March 27th. The shares were acquired at an average cost of $146.87 per share, with a total value of $9,999,643.95. Following the purchase, the chief executive officer owned 343,394 shares in the company, valued at $50,434,276.78. This represents a 24.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $160.42, for a total value of $802,100.00. Following the transaction, the executive vice president directly owned 150,250 shares in the company, valued at approximately $24,103,105. This trade represents a 3.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 30,756 shares of company stock worth $5,076,355 in the last quarter. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Palo Alto Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC bought a new stake in Palo Alto Networks during the 2nd quarter worth approximately $25,000. Knuff & Co LLC bought a new stake in Palo Alto Networks during the 4th quarter worth approximately $26,000. Steph & Co. increased its holdings in Palo Alto Networks by 88.2% during the 4th quarter. Steph & Co. now owns 143 shares of the network technology company’s stock worth $26,000 after purchasing an additional 67 shares in the last quarter. Sittner & Nelson LLC increased its holdings in Palo Alto Networks by 73.8% during the 4th quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 62 shares in the last quarter. Finally, Winch Advisory Services LLC increased its holdings in Palo Alto Networks by 96.1% during the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock worth $30,000 after purchasing an additional 73 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Company Profile

(Get Free Report)

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.

Further Reading

Analyst Recommendations for Palo Alto Networks (NASDAQ:PANW)

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