Palo Alto Networks (NASDAQ:PANW) Hits New 12-Month High - Time to Buy?

Key Points

• Palo Alto Networks' stock reached a new **52-week high** of **$210.39** before closing at **$208.33**, with a trading volume of **540,961 shares**.
• Analyst ratings show a consensus of **"Moderate Buy"** with price targets ranging from **$177.00 to $230.00**, indicating varied sentiment among analysts.
• In its latest earnings report, Palo Alto Networks beat expectations with **$0.80** earnings per share, **15.3%** revenue growth year-over-year, and reported quarterly revenue of **$2.29 billion**.

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $210.39 and last traded at $208.33, with a volume of 540961 shares traded. The stock had previously closed at $204.50.

Analyst Ratings Changes

PANW has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a report on Monday, May 19th. TD Securities reiterated a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price objective on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. Northland Securities lowered their target price on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 21st. Finally, Truist Financial dropped their target price 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. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $209.42.

Palo Alto Networks Stock Down 3.3%

The company has a 50 day moving average of $196.55 and a 200 day moving average of $187.13. The stock has a market capitalization of $131.86 billion, a price-to-earnings ratio of 112.87, a price-to-earnings-growth ratio of 5.67 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. On average, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 600 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total value of $122,400.00. Following the completion of the sale, the chief accounting officer owned 41,433 shares of the company's stock, valued at $8,452,332. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total value of $19,866,000.00. Following the completion of the sale, the executive vice president directly owned 3,243,516 shares of the company's stock, valued at approximately $644,356,888.56. This trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 569,248 shares of company stock worth $111,279,829. Corporate insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Palo Alto Networks

Several hedge funds and other institutional investors have recently made changes to their positions in the business. St. Clair Advisors LLC boosted its holdings in Palo Alto Networks by 0.3% during the second quarter. St. Clair Advisors LLC now owns 15,800 shares of the network technology company's stock valued at $3,233,000 after purchasing an additional 50 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its stake in shares of Palo Alto Networks by 2.1% during the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 2,467 shares of the network technology company's stock worth $496,000 after buying an additional 50 shares during the last quarter. Csenge Advisory Group lifted its stake in Palo Alto Networks by 2.4% in the 1st quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company's stock valued at $381,000 after purchasing an additional 53 shares during the last quarter. TFG Advisers LLC lifted its stake in Palo Alto Networks by 1.1% in the 2nd quarter. TFG Advisers LLC now owns 4,668 shares of the network technology company's stock valued at $955,000 after purchasing an additional 53 shares during the last quarter. Finally, GSG Advisors LLC increased its holdings in shares of Palo Alto Networks by 0.4% during the first quarter. GSG Advisors LLC now owns 12,450 shares of the network technology company's stock worth $2,154,000 after purchasing an additional 54 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

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.

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