Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $235.00 at Jefferies Financial Group

Palo Alto Networks (NASDAQ:PANW) had its price objective raised by Jefferies Financial Group from $225.00 to $235.00 in a report released on Thursday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the network technology company’s stock.

Several other research analysts have also weighed in on PANW. Barclays lowered their price target on Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 price objective on shares of Palo Alto Networks and gave the company an “outperform” rating in a research report on Wednesday, May 21st. Truist Financial lowered their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. cut their target price on shares of Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating for the company in a research note on Wednesday, May 21st. Finally, Morgan Stanley lowered their price target on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.42.

Palo Alto Networks Trading Up 1.0%

PANW stock opened at $201.16 on Thursday. The stock has a 50-day moving average price of $196.14 and a two-hundred day moving average price of $186.53. Palo Alto Networks has a 1 year low of $142.01 and a 1 year high of $208.39. The stock has a market cap of $134.13 billion, a PE ratio of 114.95, a price-to-earnings-growth ratio of 5.56 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period last year, the company earned $0.66 earnings per share. Palo Alto Networks’s quarterly revenue was up 15.3% on a year-over-year basis. On average, analysts forecast that Palo Alto Networks will post 1.76 earnings per share for the current fiscal 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 that occurred on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the sale, the executive vice president directly owned 101,135 shares in the company, valued at $20,414,099.75. This trade represents a 4.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aparna Bawa sold 526 shares of the business’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $190.00, for a total transaction of $99,940.00. Following the completion of the sale, the director directly owned 8,632 shares in the company, valued at approximately $1,640,080. This represents a 5.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 569,248 shares of company stock worth $111,279,829 over the last three months. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PANW. Transce3nd LLC acquired a new position in shares of Palo Alto Networks in the fourth quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL raised its holdings in Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Kiely Wealth Advisory Group Inc. lifted its position in shares of Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock worth $29,000 after purchasing an additional 75 shares during the period. Anchor Investment Management LLC boosted its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 78 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at $29,000. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Company Profile

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.