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Palo Alto Networks (NASDAQ:PANW) Price Target Cut to $215.00 by Analysts at Rosenblatt Securities

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Key Points

  • Analysts at Rosenblatt Securities have decreased the price target for Palo Alto Networks from $235.00 to $215.00 while maintaining a "buy" rating, suggesting a potential upside of 21.57% from the stock's last close.
  • The stock has recently seen mixed ratings from various analysts, with two "sell" ratings, thirteen "hold" ratings, and twenty-seven "buy" ratings, resulting in an average rating of "Moderate Buy."
  • Palo Alto Networks reported a quarterly earnings per share (EPS) of $0.80, exceeding the consensus estimate of $0.77, with revenue reaching $2.29 billion, reflecting a 15.3% increase compared to the same quarter last year.
  • Want stock alerts on Palo Alto Networks? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) had its price target decreased by analysts at Rosenblatt Securities from $235.00 to $215.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the network technology company's stock. Rosenblatt Securities' target price indicates a potential upside of 21.57% from the stock's previous close.

A number of other equities analysts also recently commented on the stock. Stephens downgraded shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Piper Sandler raised shares of Palo Alto Networks from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $200.00 to $225.00 in a research note on Tuesday. Guggenheim reaffirmed a "sell" rating and set a $130.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. UBS Group set a $185.00 target price on shares of Palo Alto Networks and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Barclays dropped their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of "Moderate Buy" and a consensus target price of $217.01.

View Our Latest Research Report on Palo Alto Networks

Palo Alto Networks Stock Up 0.8%

NASDAQ PANW opened at $176.86 on Thursday. The firm has a market cap of $117.93 billion, a PE ratio of 101.06, a price-to-earnings-growth ratio of 4.16 and a beta of 0.94. The company has a 50 day moving average price of $192.92 and a 200 day moving average price of $186.63. Palo Alto Networks has a 52 week low of $144.15 and a 52 week high of $210.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. 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, equities research analysts anticipate that Palo Alto Networks will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Aparna Bawa sold 526 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $190.00, for a total value of $99,940.00. Following the completion of the sale, the director owned 8,632 shares of the company's stock, valued at approximately $1,640,080. The trade was a 5.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the sale, the executive vice president directly owned 101,135 shares of the company's stock, valued at approximately $20,414,099.75. The trade was a 4.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 669,248 shares of company stock worth $126,423,337. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palo Alto Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group raised its stake in Palo Alto Networks by 106.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock worth $433,000 after acquiring an additional 1,226 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Palo Alto Networks by 10.8% in the first quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock valued at $2,410,000 after acquiring an additional 1,374 shares during the last quarter. Diligent Investors LLC boosted its holdings in Palo Alto Networks by 100.0% in the fourth quarter. Diligent Investors LLC now owns 3,430 shares of the network technology company's stock valued at $624,000 after acquiring an additional 1,715 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Palo Alto Networks by 8.0% in the first quarter. Nisa Investment Advisors LLC now owns 137,663 shares of the network technology company's stock valued at $23,491,000 after acquiring an additional 10,180 shares during the last quarter. Finally, Shorepoint Capital Partners LLC boosted its holdings in Palo Alto Networks by 108.4% in the fourth quarter. Shorepoint Capital Partners LLC now owns 20,898 shares of the network technology company's stock valued at $3,803,000 after acquiring an additional 10,868 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Palo Alto Networks (NASDAQ:PANW)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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