Palo Alto Networks, Inc. (NASDAQ:PANW – Get Free Report)’s share price was down 5.2% during mid-day trading on Tuesday . The stock traded as low as $357.26 and last traded at $362.09. Approximately 8,506,501 shares changed hands during trading, a decline of 1% from the average daily volume of 8,568,425 shares. The stock had previously closed at $382.13.
More Palo Alto Networks News
Here are the key news stories impacting Palo Alto Networks this week:
- Positive Sentiment: Jefferies expects Palo Alto Networks to exceed consensus forecasts for remaining performance obligations, annual recurring revenue and total revenue, with product growth potentially reaching 18% year over year. Palo Alto Networks set to beat fiscal Q4 metrics, guide above consensus
- Positive Sentiment: Scotiabank raised its price target to $430 from $320 and maintained a “sector outperform” rating, implying continued upside based on its outlook for the cybersecurity provider.
- Positive Sentiment: Longer term, rising cyber threats and increasing adoption of artificial intelligence support demand for Palo Alto Networks’ AI-enabled security platforms. Top AI-Powered Security Stocks Worth Buying Amid Rising Cyber Threats
- Neutral Sentiment: PANW has climbed about 30% since its prior quarterly results, substantially outperforming the broader software sector. That momentum reflects optimism but also sets a high bar for the upcoming report. Big Software Names Bounced Back in August
- Negative Sentiment: A broad software-stock selloff is pressuring Palo Alto Networks despite favorable company-specific developments, suggesting investors are focusing on high valuation multiples and macroeconomic risks rather than fundamentals. CrowdStrike Falls Despite Optiv Milestone, Palo Alto Drops
- Negative Sentiment: Investors are also contending with higher oil prices, inflation concerns and rising Treasury yields, all of which can weigh on growth-stock valuations. The company’s results and guidance after the close may therefore determine whether the recent rally can continue. Market Open: Inflation and Treasury Yields
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Stephens increased their price target on shares of Palo Alto Networks from $180.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 3rd. Berenberg Bank boosted their price target on shares of Palo Alto Networks from $290.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Arete Research upped their price target on Palo Alto Networks from $185.00 to $433.00 and gave the company a “buy” rating in a research report on Monday, June 29th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research note on Wednesday, June 3rd. Finally, HSBC raised their price objective on Palo Alto Networks from $114.00 to $207.00 in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, forty have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $370.87.
Palo Alto Networks Stock Performance
The stock has a market cap of $295.10 billion, a PE ratio of 296.80, a price-to-earnings-growth ratio of 11.74 and a beta of 0.91. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $346.54 and a 200 day moving average price of $250.56.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last issued its quarterly earnings data on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.06. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Palo Alto Networks had a return on equity of 10.53% and a net margin of 7.95%.The company’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 2.01 earnings per share for the current year.
Insider Buying and Selling at Palo Alto Networks
In related news, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $289.56, for a total transaction of $1,447,800.00. Following the completion of the sale, the executive vice president owned 145,250 shares in the company, valued at approximately $42,058,590. This trade represents a 3.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 900 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $345.00, for a total value of $310,500.00. Following the completion of the transaction, the chief accounting officer directly owned 79,644 shares in the company, valued at $27,477,180. This trade represents a 1.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 37,735 shares of company stock worth $10,814,266. Corporate insiders own 1.40% of the company’s stock.
Hedge Funds Weigh In On Palo Alto Networks
Several large investors have recently modified their holdings of the stock. Darwin Wealth Management LLC bought a new stake in Palo Alto Networks during the second quarter valued at $25,000. Knuff & Co LLC acquired a new position in shares of Palo Alto Networks in the 4th quarter valued at about $26,000. Solstein Capital LLC acquired a new stake in Palo Alto Networks during the second quarter worth about $26,000. Sittner & Nelson LLC lifted its holdings in Palo Alto Networks by 73.8% in the fourth quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company’s stock worth $27,000 after acquiring an additional 62 shares during the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Palo Alto Networks during the 2nd quarter worth approximately $27,000. Institutional investors own 79.82% of the company’s stock.
Palo Alto Networks Company Profile
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.
Read More
- Five stocks we like better than Palo Alto Networks
- Dutch Bros Sell-Off Creates a Growth Opportunity
- NVIDIA’s MediaTek Bet Shows How It Plans to Defend Its AI Moat
- Is Abercrombie & Fitch’s Hot Streak Just Getting Started?
- Medtronic’s Stars Are Aligning for a Price Recovery
Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.
