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Tag: PANW

  • Parsons Capital Management Inc. RI Has $914,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

    Parsons Capital Management Inc. RI Has $914,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

    Parsons Capital Management Inc. RI lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 4.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,695 shares of the network technology company’s stock after buying an additional 116 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Palo Alto Networks were worth $914,000 as of its most recent SEC filing.

    A number of other hedge funds and other institutional investors also recently modified their holdings of PANW. Western Wealth Management LLC grew its position in shares of Palo Alto Networks by 21.5% during the 4th quarter. Western Wealth Management LLC now owns 3,082 shares of the network technology company’s stock worth $909,000 after purchasing an additional 545 shares in the last quarter. HTLF Bank acquired a new position in Palo Alto Networks in the 4th quarter valued at $444,000. Knights of Columbus Asset Advisors LLC lifted its position in shares of Palo Alto Networks by 1.5% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 10,597 shares of the network technology company’s stock valued at $3,125,000 after acquiring an additional 153 shares during the period. Resonant Capital Advisors LLC grew its holdings in shares of Palo Alto Networks by 52.2% during the 4th quarter. Resonant Capital Advisors LLC now owns 6,311 shares of the network technology company’s stock worth $1,861,000 after purchasing an additional 2,165 shares in the last quarter. Finally, John G Ullman & Associates Inc. increased its position in shares of Palo Alto Networks by 4.0% in the fourth quarter. John G Ullman & Associates Inc. now owns 1,078 shares of the network technology company’s stock worth $318,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

    Palo Alto Networks Stock Performance

    NASDAQ:PANW opened at $365.70 on Tuesday. Palo Alto Networks, Inc. has a 52 week low of $224.64 and a 52 week high of $380.84. The firm has a 50-day moving average price of $327.00 and a two-hundred day moving average price of $310.68. The firm has a market cap of $118.41 billion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 4.48 and a beta of 1.14.

    Palo Alto Networks (NASDAQ:PANW – Get Free Report) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. Palo Alto Networks’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.80 earnings per share. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

    Analyst Upgrades and Downgrades

    A number of equities research analysts have issued reports on the stock. Needham & Company LLC increased their price objective on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research note on Monday. BMO Capital Markets upped their target price on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday. Macquarie lifted their price target on Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Finally, Wedbush reissued an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a report on Friday. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.78.

    View Our Latest Report on Palo Alto Networks

    Insider Activity

    In related news, President William D. Jenkins, Jr. sold 1,621 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the transaction, the president now directly owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, President William D. Jenkins, Jr. sold 1,621 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the sale, the president now owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aparna Bawa sold 322 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total value of $99,820.00. Following the transaction, the director now directly owns 3,767 shares of the company’s stock, valued at $1,167,770. The disclosure for this sale can be found here. Insiders sold a total of 367,315 shares of company stock valued at $118,696,590 in the last ninety days. 3.30% of the stock is currently owned by insiders.

    Palo Alto Networks Profile

    (Free Report)

    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.

    Read More

    Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

    Receive News & Ratings for Palo Alto Networks Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Palo Alto Networks and related companies with MarketBeat.com’s FREE daily email newsletter.

    ABMN Staff

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  • Palo Alto Networks earnings, outlook top Street expectations as SEC cyberattack reporting rule drives demand

    Palo Alto Networks earnings, outlook top Street expectations as SEC cyberattack reporting rule drives demand

    Palo Alto Networks Inc. shares rallied Friday after hours as the cybersecurity company topped expectations with its latest earnings, as well as with its forecasts for profit and billings, outlining that new reporting rules and AI-backed adversaries are driving adoption.

    The stock
    PANW,
    +1.02%
    was rallying more than 9% in the extended session, following a 1% gain in the regular session to close at $209.69.

    Palo Alto Networks forecast first-quarter adjusted earnings of $1.15 to $1.17 a share on revenue of $1.82 billion to $1.85 billion and billings of $2.05 billion to $2.08 billion. Analysts were estimating $1.11 a share on revenue of $1.93 billion and billings of $2.04 billion for the first quarter.

    For the year, the company expects $5.27 to $5.40 a share on revenue of $8.15 billion to $8.2 billion on billings of $10.9 billion to $11 billion. Analysts tracked by FactSet had been projecting $4.98 a share on revenue of $8.38 billion and billings of $10.81 billion for the year.

    The company defines billings as “total revenue plus the change in total deferred revenue, net of acquired deferred revenue, during the period,” and is a metric used to account for subscriptions.

    On the extended call with analysts, Nikesh Arora, the company’s chairman and chief executive, said that while strong fourth-quarter results did not come as a surprise, what did come as a surprise was the speed of adoption of its Cortex XSIAM AI-driven security platform, especially now that regulators are going to start requiring quick disclosures for material cyberattacks.

    Palo Alto Networks reported fiscal fourth-quarter net income of $227.7 million, or 64 cents a share, compared with $3.3 million, or a penny a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.44 a share, compared with 80 cents a share in the year-ago period.

    Revenue rose to $1.95 billion from $1.55 billion in the year-ago quarter, while billings rose 18% to $3.2 billion. Analysts surveyed by FactSet had forecast $1.29 a share in adjusted earnings on revenue of $1.96 billion and billings of $3.18 billion.

    The company launched XSIAM in October, and set a goal of booking more than $100 million in the first year. Arora said that in less than a year, XSIAM has already brought in $200 million, indicating that interest in applying AI to enhance security is “very high.”

    In late July, the Securities and Exchange Commission adopted new rules requiring companies to disclose cyberattacks within four days of making the determination the intrusion has a material effect on results.

    “Our customers have told us loud and clear that the legacy products powering their stacks are no longer working and they need to reduce by an order of magnitude,” Arora told analysts. “This becomes increasingly important with the new SEC rules detailing that all public companies will be required to report material breaches within four business days.”

    On the call, Lee Klarich, Palo Alto Networks chief product officer, told analysts that it wasn’t long ago that the average time between an initial hack and stealing data was about 44 days. Now, that can happen in a matter of hours, which is a huge problem, Klarich said, noting that attackers are adopting AI to perform attacks.

    “On average the industry is able to respond and remediate attacks in about six days: That doesn’t work,” Klarich said. “And even more challenging now with the SEC new rules of being able to disclose within four days, none of the math adds up.”

    Five years ago, Palo Alto Networks was already in the middle of an M&A spree to transform itself from a firewall company to a multiproduct security platform, and showed no signs of slowing down until August 2021, when the company decided to report earnings without announcing an M&A deal, after having acquired 14 companies over the previous three-and-a-half years.

    Nvidia Corp.
    NVDA,
    -0.10%    ,
    which also has a huge stake in AI, reports results after the bell on Wednesday.

    Palo Alto Networks is a new entrant to the S&P 500 index
    SPX,
    having gotten the nod in June. As of Friday’s close, Palo Alto Networks shares have gained 50.3% year to date, compared with a 12.4% gain on the ETFMG Prime Cyber Security exchange-traded fund
    HACK,
    a 13.8 % gain on the S&P 500, and a 27% rise on the tech-heavy Nasdaq Composite
    COMP.

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  • Palo Alto, Dish Network, C3.ai, EPAM Systems, and More Stock Market Movers

    Palo Alto, Dish Network, C3.ai, EPAM Systems, and More Stock Market Movers

    These Stocks Are Moving the Most Today: Palo Alto, Dish Network, C3.ai, EPAM Systems, and More

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  • PANW Stock Price | Palo Alto Networks Inc. Stock Quote (U.S.: Nasdaq) | MarketWatch

    PANW Stock Price | Palo Alto Networks Inc. Stock Quote (U.S.: Nasdaq) | MarketWatch

    Palo Alto Networks Inc.

    Palo Alto Networks, Inc. engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.

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  • Walmart, Home Depot, Meta, DocuSign, Medtronic, and More Stock Market Movers

    Walmart, Home Depot, Meta, DocuSign, Medtronic, and More Stock Market Movers

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    https://www.barrons.com/articles/stock-market-movers-5b0c54ae

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  • For Long-Term Investors, It’s Time to Buy Tech Again. Here Are 20 Stocks to Look at First.

    For Long-Term Investors, It’s Time to Buy Tech Again. Here Are 20 Stocks to Look at First.

    One cruel truth the stock market confirmed this past week is that trying to pick the bottom for technology stocks is a fool’s errand. The Nasdaq Composite’s terrible September—it was down 10.5% on the month—has made the bottom-fishing that took place over the summer look ill-advised. As I’ve noted before, the first downturn in tech earlier this year was all about valuations. This new phase of the decline is all about softening earnings. When it comes to price-to-earnings ratios, the market is running into a denominator problem.

    The market downturn, the weaker economy, and the reversal of some pandemic-era trends have exposed weaknesses in the business models of companies such as


    Peloton Interactive


    (ticker: PTON),


    Zoom Video Communications


    (ZM),


    Shopify


    (SHOP),


    Affirm Holdings


    (AFRM), and


    Snap


    (SNAP), and investors have adjusted valuations accordingly. But there are still some powerful underlying secular trends that should eventually drive tech stocks higher. Investors with long time horizons and strong stomachs might consider inching into the market. I have a few ideas on where to look.

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