Palo Alto Networks’ (PANW) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Palo Alto Networks (NASDAQ:PANW) in a research report sent to investors on Wednesday morning, Benzinga reports. Cantor Fitzgerald currently has a $350.00 target price on the network technology company’s stock.

Several other research analysts also recently commented on PANW. Rosenblatt Securities downgraded Palo Alto Networks from a buy rating to a neutral rating and reduced their price objective for the company from $290.00 to $265.00 in a research note on Wednesday, February 21st. Royal Bank of Canada lifted their price target on Palo Alto Networks to $420.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Truist Financial boosted their target price on Palo Alto Networks from $330.00 to $385.00 and gave the company a buy rating in a report on Tuesday, February 20th. Loop Capital lowered Palo Alto Networks from a buy rating to a hold rating and set a $300.00 target price on the stock. in a report on Wednesday, February 21st. Finally, Needham & Company LLC reissued a buy rating and issued a $345.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of Moderate Buy and an average target price of $315.46.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $277.33 on Wednesday. Palo Alto Networks has a 1 year low of $176.30 and a 1 year high of $380.84. The firm has a market capitalization of $89.61 billion, a price-to-earnings ratio of 43.33, a price-to-earnings-growth ratio of 3.75 and a beta of 1.19. The business’s 50 day moving average price is $299.16 and its 200-day moving average price is $290.18.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. On average, sell-side analysts expect that Palo Alto Networks will post 2.76 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 45,000 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at $67,955,958.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Lee Klarich sold 45,000 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at $67,955,958.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 167,917 shares of company stock worth $49,395,553. 3.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palo Alto Networks

A number of large investors have recently modified their holdings of the company. Jeppson Wealth Management LLC raised its holdings in shares of Palo Alto Networks by 2.1% in the 1st quarter. Jeppson Wealth Management LLC now owns 5,959 shares of the network technology company’s stock worth $1,693,000 after purchasing an additional 120 shares during the period. Cornerstone Wealth Group LLC raised its holdings in shares of Palo Alto Networks by 14.9% during the 1st quarter. Cornerstone Wealth Group LLC now owns 11,784 shares of the network technology company’s stock valued at $3,348,000 after buying an additional 1,532 shares during the period. Merrion Investment Management Co LLC acquired a new stake in Palo Alto Networks during the 1st quarter valued at approximately $284,000. Atticus Wealth Management LLC grew its stake in Palo Alto Networks by 30.0% during the 1st quarter. Atticus Wealth Management LLC now owns 1,144 shares of the network technology company’s stock valued at $325,000 after purchasing an additional 264 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new stake in Palo Alto Networks during the 1st quarter valued at approximately $204,000. 79.82% of the stock is currently owned by hedge funds and other 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.