Market Analysts see Palo Alto Networks Inc [PANW] gaining to $402. Time to buy?

Palo Alto Networks Inc [NASDAQ: PANW] closed the trading session at $366.09. The company report on February 20, 2024 at 4:05 PM that Palo Alto Networks Reports Fiscal Second Quarter 2024 Financial Results.

Fiscal second quarter revenue grew 19% year over year to $2.0 billion.

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Remaining performance obligation grew 22% year over year to $10.8 billion.

The stocks have a year to date performance of 24.15 percent and weekly performance of -1.58 percent. The stock has been moved at 74.59 percent over the last six months. The stock has performed 8.39 percent around the most recent 30 days and changed 51.09 percent over the most recent 3-months.

If compared to the average trading volume of 3.79M shares, PANW reached to a volume of 8498647 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $357.20 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 1.52. 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.

Bernstein have made an estimate for Palo Alto Networks Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 18, 2024. The new note on the price target was released on December 18, 2023, representing the official price target for Palo Alto Networks Inc stock. Previously, the target price had yet another raise to $400, while Susquehanna analysts kept a Positive rating on PANW stock.

The Average True Range (ATR) for Palo Alto Networks Inc is set at 10.03, with the Price to Sales ratio for PANW stock in the period of the last 12 months amounting to 16.02. The Price to Book ratio for the last quarter was 52.91, with the Price to Cash per share for the same quarter was set at 12.37. Price to Free Cash Flow for PANW in the course of the last twelve months was 39.49 with Quick ratio for the last quarter at 0.82.

PANW stock trade performance evaluation

Palo Alto Networks Inc [PANW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.58. With this latest performance, PANW shares gained by 8.39% in over the last four-week period, additionally plugging by 74.59% over the last 6 months – not to mention a rise of 112.82% 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 67.98, with the RSI for the last a single of trading hit 65.87, and the three-weeks RSI is set at 68.13 for Palo Alto Networks Inc [PANW]. The present Moving Average for the last 50 days of trading for this stock 325.69, while it was recorded at 367.19 for the last single week of trading, and 259.59 for the last 200 days.

Palo Alto Networks Inc [PANW]: An insightful look at the core fundamentals

Palo Alto Networks Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.82 and a Current Ratio set at 0.82.

Earnings per share (EPS) analysis for Palo Alto Networks Inc [PANW] stock

With the latest financial reports released by the company, Palo Alto Networks Inc posted 1.05/share EPS, while the average EPS was predicted by analysts to be reported at 0.78/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 34.60%. 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 22.50%.

Palo Alto Networks Inc [PANW]: Institutional Ownership

The top three institutional holders of PANW stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PANW stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PANW stock with ownership which is approximately 5.8325%.