Palo Alto Networks (NASDAQ:PANW) Given “Market Outperform” Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Palo Alto Networks (NASDAQ:PANW) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $380.00 price target on the network technology company’s stock.

A number of other equities analysts also recently commented on the stock. Evercore ISI increased their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Scotiabank upped their target price on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. UBS Group upped their target price on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Truist Financial upped their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, BNP Paribas started coverage on shares of Palo Alto Networks in a report on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.49.

Palo Alto Networks Stock Up 0.5 %

PANW opened at $387.00 on Monday. Palo Alto Networks has a 12 month low of $234.15 and a 12 month high of $387.21. The company has a fifty day simple moving average of $353.98 and a 200 day simple moving average of $331.32. The stock has a market cap of $126.01 billion, a P/E ratio of 53.38, a P/E/G ratio of 5.23 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. On average, equities research analysts expect that Palo Alto Networks will post 3.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the sale, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the sale, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. The trade was a 0.00 % 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 66,666 shares of Palo Alto Networks stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the sale, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 255,252 shares of company stock valued at $89,383,077. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks during the first quarter worth about $25,000. Capital Advisors Ltd. LLC boosted its stake in Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 41 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. boosted its stake in Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

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.