KeyCorp Increases Palo Alto Networks (NASDAQ:PANW) Price Target to $435.00

Palo Alto Networks (NASDAQ:PANW) had its price target increased by stock analysts at KeyCorp from $400.00 to $435.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the network technology company’s stock. KeyCorp’s price objective suggests a potential upside of 16.05% from the company’s current price.

Several other analysts have also recently weighed in on PANW. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Robert W. Baird upped their price target on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Evercore ISI upped their price target on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Sanford C. Bernstein upped their price target on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley upped their price target on Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.79.

Palo Alto Networks Stock Down 0.4 %

Palo Alto Networks stock opened at $374.83 on Friday. The stock has a 50-day simple moving average of $348.67 and a 200 day simple moving average of $323.01. Palo Alto Networks has a 12-month low of $233.81 and a 12-month high of $380.84. The stock has a market capitalization of $121.37 billion, a price-to-earnings ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. As a group, sell-side analysts anticipate that Palo Alto Networks will post 3.56 EPS for the current year.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the sale, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal 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 stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at $47,055,533.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,452 shares of company stock worth $118,643,279. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its holdings in shares of Palo Alto Networks by 7.2% during the 4th quarter. Fisher Asset Management LLC now owns 1,806 shares of the network technology company’s stock worth $533,000 after purchasing an additional 121 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Palo Alto Networks during the 4th quarter worth $60,000. Alaska Permanent Fund Corp grew its holdings in shares of Palo Alto Networks by 403.5% during the 1st quarter. Alaska Permanent Fund Corp now owns 720 shares of the network technology company’s stock worth $205,000 after purchasing an additional 577 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Palo Alto Networks by 2.7% during the 1st quarter. Wedmont Private Capital now owns 3,043 shares of the network technology company’s stock worth $849,000 after purchasing an additional 81 shares in the last quarter. Finally, Marcum Wealth LLC grew its holdings in shares of Palo Alto Networks by 10.8% during the 1st quarter. Marcum Wealth LLC now owns 947 shares of the network technology company’s stock worth $269,000 after purchasing an additional 92 shares in the last quarter. 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.