Shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Get Free Report) were up 2.2% during trading on Monday . The stock traded as high as $374.56 and last traded at $371.76. 5,135,576 shares were traded during trading, a decline of 39% from the average daily volume of 8,474,989 shares. The stock had previously closed at $363.58.
Analysts Set New Price Targets
PANW has been the topic of several research reports. FBN Securities reiterated an “outperform” rating on shares of Palo Alto Networks in a research report on Wednesday, July 1st. Phillip Securities downgraded shares of Palo Alto Networks from a “moderate buy” rating to a “hold” rating and boosted their target price for the stock from $320.00 to $346.00 in a research note on Monday, September 7th. Capital One Financial upped their target price on shares of Palo Alto Networks from $421.00 to $428.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. UBS Group reissued a “neutral” rating and set a $390.00 price target (up from $300.00) on shares of Palo Alto Networks in a research note on Wednesday, August 19th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $475.00 price target (up from $420.00) on shares of Palo Alto Networks in a report on Monday, August 17th. Thirty-eight research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $390.02.
View Our Latest Report on Palo Alto Networks
Palo Alto Networks Stock Up 2.2%
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last announced its quarterly earnings results on Tuesday, September 1st. The network technology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.04. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.35 billion. Palo Alto Networks had a return on equity of 8.50% and a net margin of 2.67%.The company’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 earnings per share. Palo Alto Networks has set its FY 2027 guidance at 4.160-4.190 EPS and its Q1 2027 guidance at 0.960-0.980 EPS. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 2.31 EPS for the current year.
Insider Buying and Selling at Palo Alto Networks
In other Palo Alto Networks news, Director Helle Thorning-Schmidt sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $346.85, for a total transaction of $242,795.00. Following the sale, the director directly owned 5,898 shares in the company, valued at approximately $2,045,721.30. This trade represents a 10.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John P. Key sold 2,500 shares of Palo Alto Networks stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $376.03, for a total transaction of $940,075.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at approximately $3,760,300. The trade was a 20.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 33,322 shares of company stock worth $11,994,209 in the last quarter. Company insiders own 1.40% of the company’s stock.
Hedge Funds Weigh In On Palo Alto Networks
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Palo Alto Networks in the 2nd quarter valued at about $25,833,462,000. Bank of America Corp DE boosted its position in shares of Palo Alto Networks by 0.9% during the second quarter. Bank of America Corp DE now owns 22,681,876 shares of the network technology company’s stock worth $7,734,973,000 after buying an additional 205,123 shares during the period. State Street Corp boosted its position in shares of Palo Alto Networks by 2.0% during the fourth quarter. State Street Corp now owns 30,331,705 shares of the network technology company’s stock worth $5,587,100,000 after buying an additional 594,789 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Palo Alto Networks by 8.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,778,963 shares of the network technology company’s stock worth $2,993,802,000 after buying an additional 706,003 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Palo Alto Networks by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 15,989,257 shares of the network technology company’s stock worth $2,934,935,000 after buying an additional 540,756 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.
Palo Alto Networks Company Profile
Palo Alto Networks, Inc is a cybersecurity company that provides security products and services to businesses, governments and other organizations worldwide. The company helps customers protect networks, cloud environments, endpoints, applications and connected devices from cyber threats.
Its portfolio includes next-generation firewalls and network security technologies, as well as cloud-delivered security solutions such as Prisma Access and Prisma Cloud. Palo Alto Networks also offers Cortex products for endpoint protection, security operations, threat detection and response, and automation.
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