Palo Alto Networks (NASDAQ:PANW) Price Target Cut to $355.00

Palo Alto Networks (NASDAQ:PANW) had its price target cut by KeyCorp from $380.00 to $355.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the network technology company’s stock. KeyCorp’s target price indicates a potential upside of 27.83% from the stock’s current price.

Other analysts have also recently issued reports about the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Loop Capital cut Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research note on Wednesday, February 21st. Finally, Citigroup increased their target price on Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Eleven analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Palo Alto Networks Trading Down 1.2 %

Palo Alto Networks stock opened at $277.71 on Thursday. The company has a market cap of $89.73 billion, a PE ratio of 43.39, a PEG ratio of 3.83 and a beta of 1.19. The company’s 50-day moving average is $295.46 and its two-hundred day moving average is $290.40. Palo Alto Networks has a 1 year low of $176.30 and a 1 year high of $380.84.

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

Insider Buying and Selling at Palo Alto Networks

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PANW. Worth Asset Management LLC bought a new position in shares of Palo Alto Networks in the first quarter worth $26,000. Frank Rimerman Advisors LLC bought a new position in Palo Alto Networks in the fourth quarter valued at about $27,000. Fortis Capital Advisors LLC bought a new position in Palo Alto Networks in the fourth quarter valued at about $28,000. Pin Oak Investment Advisors Inc. bought a new position in Palo Alto Networks in the second quarter valued at about $28,000. Finally, First Pacific Financial grew its position in Palo Alto Networks by 421.7% in the third quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 97 shares during 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.