Palo Alto Networks (NASDAQ:PANW) Now Covered by Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Palo Alto Networks (NASDAQ:PANW) in a research note published on Thursday, StockNewsAPI reports. The firm issued an overweight rating and a $415.00 target price on the network technology company’s stock.

Several other equities research analysts have also weighed in on PANW. Truist Financial increased their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. KeyCorp increased their price target on Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Sanford C. Bernstein boosted their price objective on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $378.49.

Palo Alto Networks Trading Up 0.6 %

Shares of PANW opened at $362.64 on Thursday. Palo Alto Networks has a 52 week low of $233.81 and a 52 week high of $384.00. The firm has a market cap of $118.08 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 5.22 and a beta of 1.12. The stock has a 50 day moving average of $352.69 and a 200-day moving average of $329.39.

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, topping analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate 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 revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 earnings per share. On average, sell-side analysts predict that Palo Alto Networks will post 3.57 earnings per share for the current fiscal year.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares in the company, valued at $47,055,533.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was 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 owns 1,115,567 shares in the company, valued at $370,926,027.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,252 shares of company stock valued at $107,138,877 over the last three months. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Palo Alto Networks

Several hedge funds have recently bought and sold shares of the business. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks in the first quarter worth approximately $25,000. Capital Advisors Ltd. LLC increased its stake in Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares during the period. Sound Income Strategies LLC lifted its position in Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in shares of Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. grew its holdings in shares of Palo Alto Networks by 1,111.1% during the 1st 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 in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

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.