In yesterday’s Wall Street session, Palo Alto Networks Inc (NASDAQ:PANW) shares traded at $281.00, up 0.67% from the previous session.
PANW stock price is now -8.79% away from the 50-day moving average and 3.29% away from the 200-day moving average. The market capitalization of the company currently stands at $90.79B.
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With the price target reduced from $290 to $265, Rosenblatt Downgraded its rating from Buy to Neutral for Palo Alto Networks Inc (NASDAQ: PANW). On February 21, 2024, Piper Sandler Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock reducing its target price from $350 to quote $300, while ‘Northland Capital’ rates the stock as ‘Market Perform’
In other news, Klarich Lee, EVP, Chief Product Officer sold 60,000 shares of the company’s stock on Apr 05 ’24. The stock was sold for $16,082,453 at an average price of $268.04. Upon completion of the transaction, the EVP, Chief Product Officer now directly owns 174,075 shares in the company, valued at $48.92 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 01 ’24, EVP, Chief Technology Officer ZUK NIR sold 36,000 shares of the business’s stock. A total of $10,096,399 was realized by selling the stock at an average price of $280.46. This leaves the insider owning 1,331,567 shares of the company worth $374.17 million. A total of 1.29% of the company’s stock is owned by insiders.
During the past 12 months, Palo Alto Networks Inc has had a low of $176.30 and a high of $380.84. As of last week, the company has a debt-to-equity ratio of 0.50, a current ratio of 0.79, and a quick ratio of 0.79. According to the stock market information, the enterprise value for the company is $89.01B, which is based on a 43.93 price-to-earnings ratio, a 2.46 price-to-earnings-growth ratio, and a beta of 1.20. The fifty day moving average price for PANW is $306.80 and a two-hundred day moving average price translates $272.22 for the stock.
The latest earnings results from Palo Alto Networks Inc (NASDAQ: PANW) was released for Jan, 2024. According to the Software – Infrastructure Company, earnings per share came in at $1.46, beating analysts’ expectations of $1.3 by 0.16. This compares to $0.25 EPS in the same period last year. The net profit margin was 30.24% and return on equity was 89.52% for PANW. The company reported revenue of $1.98 billion for the quarter, compared to $1.66 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.33 percent. For the current quarter, analysts expect PANW to generate $1.97B in revenue.
