The stock of Palo Alto Networks Inc (NASDAQ:PANW) last traded at $311.66, down -3.74% from the previous session.
PANW stock price is now 8.15% away from the 50-day moving average and 11.77% away from the 200-day moving average. The market capitalization of the company currently stands at $100.70B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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 5,391 shares of the company’s stock on May 07 ’24. The stock was sold for $1,642,647 at an average price of $304.70. Upon completion of the transaction, the EVP, Chief Product Officer now directly owns 166,542 shares in the company, valued at $51.9 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 06 ’24, EVP, Chief Product Officer Klarich Lee sold 121,276 shares of the business’s stock. A total of $36,334,450 was realized by selling the stock at an average price of $299.60. This leaves the insider owning 166,542 shares of the company worth $51.9 million. A total of 1.25% of the company’s stock is owned by insiders.
During the past 12 months, Palo Alto Networks Inc has had a low of $188.30 and a high of $380.84. As of last week, the company has a debt-to-equity ratio of 0.34, 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 $99276914688, which is based on a 45.34 price-to-earnings ratio, a 2.79 price-to-earnings-growth ratio, and a beta of 1.13. The fifty day moving average price for PANW is $288.7472 and a two-hundred day moving average price translates $279.2968 for the stock.
The latest earnings results from Palo Alto Networks Inc (NASDAQ: PANW) was released for 2024-04-30. According to the Software – Infrastructure Company, earnings per share came in at 1.44, beating analysts’ expectations of 1.28 by 0.16. This compares to $0.25 EPS in the same period last year. The net profit margin was 31.41% and return on equity was 85.88% 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 $2.16B in revenue.
