Needham slashes price target on Palo Alto Networks Inc [PANW] – find out why.

Palo Alto Networks Inc [NASDAQ: PANW] price surged by 2.25 percent to reach at $5.5. The company report on November 2, 2023 at 8:30 AM that Palo Alto Networks to Announce Fiscal First Quarter 2024 Financial Results on Wednesday, November 15, 2023.

Palo Alto Networks (NASDAQ: PANW), the global cybersecurity leader, announced today that it will release the financial results for its fiscal first quarter 2024, ended October 31, 2023, after U.S. markets close on Wednesday, November 15, 2023. Palo Alto Networks will host a video webcast that day at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) to discuss the results.

Elon Musk just Triggered a BOOM in These Stocks

Something strange is happening in the stock market…. This select group of stocks are going absolutely bananas. And it's all because of Elon Musk. Get your copy of "Top 5 Tech Stocks to Buy in 2024"

Click Here to Download the FREE Report.


A live video webcast will be accessible from the “Investors” section of the Palo Alto Networks website at A replay of the event will be available three hours after the conclusion of the webcast and archived for one year. Prior to the commencement of the fiscal first quarter 2024 financial results webcast on November 15, 2023, a financial results press release will be accessible from the Palo Alto Networks website.

A sum of 3461517 shares traded at recent session while its average daily volume was at 3.74M shares. Palo Alto Networks Inc shares reached a high of $252.08 and dropped to a low of $247.08 until finishing in the latest session at $250.36.

The one-year PANW stock forecast points to a potential upside of 10.45. The average equity rating for PANW stock is currently 1.36, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Palo Alto Networks Inc [PANW]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PANW shares is $279.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PANW stock is a recommendation set at 1.36. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Palo Alto Networks Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 25, 2023.

The Average True Range (ATR) for Palo Alto Networks Inc is set at 7.31, with the Price to Sales ratio for PANW stock in the period of the last 12 months amounting to 11.29. The Price to Book ratio for the last quarter was 44.15, with the Price to Cash per share for the same quarter was set at 7.71. Price to Free Cash Flow for PANW in the course of the last twelve months was 29.57 with Quick ratio for the last quarter at 0.74.

PANW Stock Performance Analysis:

Palo Alto Networks Inc [PANW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.55. With this latest performance, PANW shares gained by 5.89% in over the last four-week period, additionally plugging by 39.86% over the last 6 months – not to mention a rise of 46.61% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PANW stock in for the last two-week period is set at 54.90, with the RSI for the last a single of trading hit 56.67, and the three-weeks RSI is set at 54.34 for Palo Alto Networks Inc [PANW]. The present Moving Average for the last 50 days of trading for this stock 242.80, while it was recorded at 243.12 for the last single week of trading, and 213.81 for the last 200 days.

Insight into Palo Alto Networks Inc Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Palo Alto Networks Inc [PANW] shares currently have an operating margin of +5.62 and a Gross Margin at +72.29. Palo Alto Networks Inc’s Net Margin is presently recorded at +6.38.

Return on Equity for this stock inclined to 44.90, with Return on Assets sitting at 3.29.

Palo Alto Networks Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.74 and a Current Ratio set at 0.74.


The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PANW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Palo Alto Networks Inc go to 26.83%.

Palo Alto Networks Inc [PANW] Institutonal Ownership Details

The top three institutional holders of PANW stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in PANW stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in PANW stock with ownership which is approximately 5.7994%.