Palo Alto Networks (NASDAQ:PANW) Price Target Raised to $449.00 at JPMorgan Chase & Co.

Palo Alto Networks (NASDAQ:PANW) had its target price lifted by JPMorgan Chase & Co. from $387.00 to $449.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the network technology company’s stock.

PANW has been the subject of several other reports. Piper Sandler boosted their price target on Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Wedbush restated an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a research note on Friday, August 16th. Evercore ISI lifted their price objective on shares of Palo Alto Networks from $395.00 to $455.00 and gave the stock an “outperform” rating in a research note on Monday. TD Cowen increased their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, DA Davidson upped their target price on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $390.39.

Palo Alto Networks Stock Down 0.0 %

PANW opened at $386.83 on Monday. Palo Alto Networks has a 12-month low of $249.56 and a 12-month high of $408.53. The business has a 50 day moving average of $360.72 and a 200-day moving average of $337.38. The stock has a market cap of $125.95 billion, a price-to-earnings ratio of 53.36, a PEG ratio of 5.61 and a beta of 1.12.

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

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the sale, the director now owns 31,517 shares in the company, valued at approximately $10,983,359.33. The trade was a 24.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 11.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,252 shares of company stock worth $89,041,637 over the last quarter. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Palo Alto Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC grew 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 buying an additional 41 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Palo Alto Networks during the 3rd quarter worth $29,000. Sound Income Strategies LLC grew its stake in shares of Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL raised 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 purchasing an additional 55 shares during the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in shares of Palo Alto Networks during the first quarter valued at about $25,000. 79.82% of the stock is owned by institutional investors.

About Palo Alto Networks

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.