Robert W. Baird Forecasts Strong Price Appreciation for Palo Alto Networks (NASDAQ:PANW) Stock

Palo Alto Networks (NASDAQ:PANW) had its price target hoisted by investment analysts at Robert W. Baird from $220.00 to $265.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm currently has an “outperform” rating on the network technology company’s stock. Robert W. Baird’s price objective suggests a potential upside of 16.34% from the stock’s current price.

Several other research firms also recently weighed in on PANW. Wells Fargo & Company lifted their target price on Palo Alto Networks from $200.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Mizuho set a $200.00 price objective on Palo Alto Networks in a research note on Wednesday, February 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Loop Capital dropped their price target on shares of Palo Alto Networks from $190.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $213.42.

Palo Alto Networks Trading Up 5.7%

PANW opened at $227.79 on Thursday. The company’s 50 day moving average is $171.48 and its 200 day moving average is $180.69. The company has a market cap of $185.88 billion, a price-to-earnings ratio of 125.85, a PEG ratio of 7.77 and a beta of 0.77. Palo Alto Networks has a 12-month low of $139.57 and a 12-month high of $228.85.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the company earned $0.81 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. As a group, analysts predict that Palo Alto Networks will post 2.14 EPS for the current fiscal year.

Insider Activity

In related news, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $160.42, for a total transaction of $802,100.00. Following the completion of the transaction, the executive vice president directly owned 150,250 shares of the company’s stock, valued at approximately $24,103,105. This trade represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora purchased 68,085 shares of the firm’s stock in a transaction on Friday, March 27th. The stock was bought at an average price of $146.87 per share, for a total transaction of $9,999,643.95. Following the purchase, the chief executive officer owned 343,394 shares in the company, valued at approximately $50,434,276.78. This represents a 24.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 30,356 shares of company stock valued at $4,981,575. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Palo Alto Networks

Several institutional investors have recently added to or reduced their stakes in PANW. Darwin Wealth Management LLC purchased a new stake in shares of Palo Alto Networks during the 2nd quarter worth approximately $25,000. Knuff & Co LLC purchased a new position in shares of Palo Alto Networks in the fourth quarter valued at $26,000. Steph & Co. grew its holdings in shares of Palo Alto Networks by 88.2% in the fourth quarter. Steph & Co. now owns 143 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 67 shares in the last quarter. Sittner & Nelson LLC increased its position in Palo Alto Networks by 73.8% in the fourth quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 62 shares during the last quarter. Finally, Winch Advisory Services LLC raised its stake in Palo Alto Networks by 96.1% during the third quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.