Palo Alto Networks (NASDAQ:PANW) Price Target Cut to $210.00 by Analysts at Barclays

Palo Alto Networks (NASDAQ:PANW - Free Report) had its price target trimmed by Barclays from $213.00 to $210.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the network technology company's stock.

A number of other research firms have also recently weighed in on PANW. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $225.00 price objective on shares of Palo Alto Networks in a report on Monday, February 10th. KeyCorp reiterated an "overweight" rating and issued a $220.00 price target on shares of Palo Alto Networks in a research report on Wednesday. TD Securities restated a "buy" rating and set a $230.00 price objective on shares of Palo Alto Networks in a report on Wednesday. JMP Securities lifted their target price on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Finally, Citigroup upped their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $206.40.

Palo Alto Networks Stock Performance

NASDAQ PANW traded up $0.61 on Wednesday, reaching $186.75. The stock had a trading volume of 4,898,365 shares, compared to its average volume of 5,628,151. Palo Alto Networks has a 12-month low of $142.01 and a 12-month high of $208.39. The business's 50-day moving average price is $178.11 and its 200 day moving average price is $185.36. The stock has a market cap of $123.65 billion, a P/E ratio of 105.21, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, sell-side analysts predict that Palo Alto Networks will post 1.76 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Monday, May 5th. The stock was sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the sale, the executive vice president now directly owns 293,010 shares in the company, valued at $55,458,002.70. The trade was a 29.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the sale, the chief executive officer now owns 317,571 shares of the company's stock, valued at approximately $54,854,038.83. The trade was a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 568,962 shares of company stock valued at $96,933,690 over the last three months. Corporate insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Siren L.L.C. boosted its stake in shares of Palo Alto Networks by 91.7% during the first quarter. Siren L.L.C. now owns 11,500 shares of the network technology company's stock valued at $1,962,000 after purchasing an additional 5,500 shares during the period. Mattson Financial Services LLC raised its position in shares of Palo Alto Networks by 118.9% in the 1st quarter. Mattson Financial Services LLC now owns 14,588 shares of the network technology company's stock worth $2,489,000 after acquiring an additional 7,925 shares in the last quarter. McAdam LLC purchased a new stake in shares of Palo Alto Networks in the 1st quarter worth about $211,000. Geneos Wealth Management Inc. grew its stake in shares of Palo Alto Networks by 24.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 68,422 shares of the network technology company's stock worth $11,675,000 after buying an additional 13,533 shares during the last quarter. Finally, Schmidt P J Investment Management Inc. increased its stake in Palo Alto Networks by 1.1% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 8,330 shares of the network technology company's stock valued at $1,421,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

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.