Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $220.00

Palo Alto Networks (NASDAQ:PANW) had its price target boosted by research analysts at Citigroup from $205.00 to $220.00 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. Citigroup’s price target would suggest a potential upside of 15.55% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Rosenblatt Securities upped their price target on Palo Alto Networks from $212.50 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. OTR Global restated a “negative” rating on shares of Palo Alto Networks in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $190.00 target price (down from $207.00) on shares of Palo Alto Networks in a report on Wednesday, January 8th. Finally, Truist Financial upped their price target on Palo Alto Networks from $200.00 to $212.50 and gave the stock a “buy” rating in a research note on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.06.

Palo Alto Networks Trading Down 0.3 %

Shares of NASDAQ:PANW opened at $190.39 on Tuesday. The firm has a 50 day simple moving average of $186.85 and a 200-day simple moving average of $183.92. Palo Alto Networks has a twelve month low of $132.50 and a twelve month high of $208.39. The company has a market capitalization of $126.06 billion, a PE ratio of 107.26, a P/E/G ratio of 5.64 and a beta of 1.14.

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

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the transaction, the executive vice president now directly owns 365,856 shares in the company, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 235,492 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $183.32, for a total value of $43,170,393.44. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. The trade was a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,122,864 shares of company stock worth $204,315,811. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Palo Alto Networks

A number of institutional investors have recently made changes to their positions in PANW. Itau Unibanco Holding S.A. bought a new position in shares of Palo Alto Networks during the 3rd quarter valued at $29,000. True Wealth Design LLC boosted its stake in shares of Palo Alto Networks by 2,933.3% during the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock worth $31,000 after acquiring an additional 88 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Palo Alto Networks during the 3rd quarter valued at $32,000. Princeton Global Asset Management LLC purchased a new stake in shares of Palo Alto Networks in the 3rd quarter worth $33,000. Finally, Darwin Wealth Management LLC bought a new position in Palo Alto Networks in the 3rd quarter worth $39,000. Hedge funds and other institutional investors 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.