Barclays Lowers Palo Alto Networks (NASDAQ:PANW) Price Target to $213.00

Palo Alto Networks (NASDAQ:PANWGet Free Report) had its target price lowered by equities research analysts at Barclays from $425.00 to $213.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the network technology company’s stock. Barclays‘s price objective indicates a potential upside of 12.84% from the company’s current price.

PANW has been the subject of several other reports. OTR Global restated a “negative” rating on shares of Palo Alto Networks in a report on Thursday, November 7th. Robert W. Baird lifted their price objective on Palo Alto Networks from $212.50 to $217.50 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. JMP Securities increased their target price on Palo Alto Networks from $190.00 to $207.50 and gave the company a “market outperform” rating in a report on Thursday, November 21st. Susquehanna boosted their price target on Palo Alto Networks from $210.00 to $217.50 and gave the stock a “positive” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. upped their price objective on Palo Alto Networks from $193.50 to $224.50 and gave the company an “overweight” rating in a research report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $201.03.

Check Out Our Latest Research Report on PANW

Palo Alto Networks Trading Down 6.2 %

PANW stock opened at $188.76 on Tuesday. The company’s 50-day moving average price is $191.80 and its 200 day moving average price is $175.21. Palo Alto Networks has a 52 week low of $130.04 and a 52 week high of $207.24. The company has a market cap of $61.93 billion, a P/E ratio of 24.58, a P/E/G ratio of 5.75 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last announced its quarterly earnings results on Wednesday, November 20th. The network technology company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. On average, equities research analysts expect that Palo Alto Networks will post 3.49 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Nikesh Arora sold 163,172 shares of Palo Alto Networks stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $184.00, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now directly owns 1,237,430 shares in the company, valued at $227,680,932.85. The trade was a 11.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nir Zuk sold 336,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the completion of the transaction, the executive vice president now owns 3,643,516 shares of the company’s stock, valued at $705,730,831.62. This represents a 8.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 571,172 shares of company stock valued at $107,074,352 in the last quarter. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PANW. Capital Advisors Ltd. LLC raised its holdings in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after purchasing an additional 41 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 67 shares during the period. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 55 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Palo Alto Networks during the third quarter worth about $29,000. Finally, True Wealth Design LLC raised its position in Palo Alto Networks by 2,933.3% in the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock worth $31,000 after acquiring an additional 88 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

About Palo Alto Networks

(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.

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Analyst Recommendations for Palo Alto Networks (NASDAQ:PANW)

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