Palo Alto Networks (NASDAQ:PANW) Trading 1.9% Higher After Analyst Upgrade

Key Points

• Palo Alto Networks' stock rose by **1.9%** following an upgrade from Jefferies Financial Group, which raised its price target from **$225** to **$235** and maintains a **buy rating**.
• Despite the positive outlook from Jefferies, other analysts presented mixed sentiments, with Barclays lowering their target price to **$210** and Morgan Stanley to **$205** while two analysts issued a **sell rating**.
• Insider transactions included Chief Accounting Officer Josh D. Paul selling **600 shares** at an average price of **$204.00**, reflecting a **1.43% decrease** in his position.
• Palo Alto Networks reported a **15.3% year-over-year revenue increase**, with an earnings per share of **$0.80**, which surpassed analysts' expectations of **$0.77**.

Palo Alto Networks, Inc. (NASDAQ:PANW - Get Free Report)'s stock price shot up 1.9% on Friday after Jefferies Financial Group raised their price target on the stock from $225.00 to $235.00. Jefferies Financial Group currently has a buy rating on the stock. Palo Alto Networks traded as high as $205.27 and last traded at $204.89. 787,700 shares were traded during mid-day trading, a decline of 85% from the average session volume of 5,350,888 shares. The stock had previously closed at $201.16.

Other analysts have also issued reports about the company. Barclays lowered their target price on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Morgan Stanley decreased their price target on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Stephens cut Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $209.42.

Insiders Place Their Bets

In related news, CAO Josh D. Paul sold 600 shares of Palo Alto Networks stock in a transaction that occurred 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 sale, the chief accounting officer owned 41,433 shares of the company's stock, valued at approximately $8,452,332. This trade represents a 1.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Aparna Bawa sold 526 shares of Palo Alto Networks stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $190.00, for a total value 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 569,248 shares of company stock worth $111,279,829 in the last 90 days. Company insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Palo Alto Networks

Institutional investors and hedge funds have recently made changes to their positions in the stock. Transce3nd LLC bought a new stake in shares of Palo Alto Networks during the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL raised its stake in shares of 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 in the last quarter. Anchor Investment Management LLC raised its stake in shares of Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 78 shares in the last quarter. Kiely Wealth Advisory Group Inc. raised its stake in shares of Palo Alto Networks by 100.0% during 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 in the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in shares of Palo Alto Networks during the 4th quarter worth approximately $29,000. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Trading Up 1.7%

The company has a market cap of $136.36 billion, a P/E ratio of 116.87, a PEG ratio of 5.56 and a beta of 0.97. The business has a 50 day moving average price of $196.14 and a 200-day moving average price of $186.53.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its 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 business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm's revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.

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