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

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

A number of other analysts have also recently issued reports on the stock. Truist Financial increased their price objective on shares of Palo Alto Networks from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday. BMO Capital Markets raised their target price on shares of Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group raised their target price on shares of Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Evercore ISI raised their target price on shares of Palo Alto Networks from $395.00 to $455.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Piper Sandler raised their target price on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $401.78.

Palo Alto Networks Trading Up 1.2 %

NASDAQ PANW opened at $397.41 on Monday. Palo Alto Networks has a 12 month low of $260.09 and a 12 month high of $408.53. The stock has a market cap of $129.40 billion, a price-to-earnings ratio of 54.82, a PEG ratio of 5.63 and a beta of 1.12. The company’s 50 day moving average is $363.59 and its two-hundred day moving average is $338.82.

Palo Alto Networks’s stock is scheduled to split on Monday, December 16th. The 2-1 split was announced on Wednesday, November 20th. The newly minted shares will be issued to shareholders after the closing bell on Friday, December 13th.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Wednesday, November 20th. The network technology company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.08. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. Sell-side analysts forecast that Palo Alto Networks will post 3.56 EPS for the current year.

Insider Activity

In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the transaction, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. The trade was a 3.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 254,252 shares of company stock worth $89,041,637. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Palo Alto Networks

Several large investors have recently bought and sold shares of PANW. O Shaughnessy Asset Management LLC grew its position in Palo Alto Networks by 12.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 25,490 shares of the network technology company’s stock worth $7,243,000 after purchasing an additional 2,748 shares during the last quarter. Lake Street Advisors Group LLC grew its position in Palo Alto Networks by 64.4% during the 1st quarter. Lake Street Advisors Group LLC now owns 2,530 shares of the network technology company’s stock worth $719,000 after purchasing an additional 991 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Palo Alto Networks during the 1st quarter worth approximately $536,000. InterOcean Capital Group LLC lifted its stake in Palo Alto Networks by 7.1% during the 1st quarter. InterOcean Capital Group LLC now owns 1,425 shares of the network technology company’s stock valued at $405,000 after acquiring an additional 94 shares during the period. Finally, Natixis lifted its stake in Palo Alto Networks by 82.3% during the 1st quarter. Natixis now owns 31,747 shares of the network technology company’s stock valued at $9,020,000 after acquiring an additional 14,328 shares during the period. Hedge funds and other 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.