Palo Alto Networks (NASDAQ:PANW) Rating Reiterated by Cantor Fitzgerald

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

PANW has been the subject of several other reports. Morgan Stanley restated an overweight rating and set a $360.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, June 12th. Daiwa America upgraded Palo Alto Networks to a strong-buy rating in a research report on Wednesday, May 29th. DA Davidson initiated coverage on Palo Alto Networks in a research report on Friday. They set a buy rating and a $380.00 price objective for the company. JMP Securities restated a market outperform rating and set a $380.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Finally, Oppenheimer reaffirmed an outperform rating and issued a $330.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Twelve analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $324.17.

Palo Alto Networks Trading Down 1.1 %

PANW stock opened at $316.68 on Friday. The firm has a 50 day moving average of $302.73 and a 200-day moving average of $306.33. Palo Alto Networks has a 12-month low of $201.17 and a 12-month high of $380.84. The company has a market cap of $102.54 billion, a price-to-earnings ratio of 46.03, a PEG ratio of 4.77 and a beta of 1.10.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Sell-side analysts forecast that Palo Alto Networks will post 2.94 earnings per share for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares of the company’s stock, valued at $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares of the company’s stock, valued at $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the completion of the transaction, the executive vice president now directly owns 1,295,567 shares in the company, valued at approximately $373,434,232.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,182 shares of company stock valued at $74,850,597. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Palo Alto Networks

A number of large investors have recently bought and sold shares of PANW. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks in the first quarter valued at approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. increased its stake in shares of Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares during the period. Webster Bank N. A. increased its stake in shares of Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Finally, Cedar Mountain Advisors LLC increased its stake in shares of Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares during the period. 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.