Palo Alto Networks Inc [NASDAQ: PANW] surged by $10.55 during the normal trading session on while it closed the day at $279.13. The company report on April 9, 2024 at 8:12 AM that Palo Alto Networks and Google Cloud Expand Partnership to Revolutionize Cybersecurity with AI.
Building the future of AI-powered security platforms to bring enterprises closer to real-time security resolution.
Cloud Next ’24, LAS VEGAS — Palo Alto Networks (NASDAQ: PANW), the global cybersecurity leader, and Google Cloud today announced the most significant expansion of their partnership to date. Palo Alto Networks has extended and increased its commitment to Google Cloud with a ten-figure, multi-year commitment and named Google Cloud its AI and infrastructure provider of choice. Google Cloud has long considered Palo Alto Networks its preferred next-generation firewall (NGFW) provider, and the expanded agreement solidifies that relationship. The alliance also underscores the critical importance of platformization fueled by AI to automate and consolidate multiple solutions, and deliver near-real-time security resolutions.
Palo Alto Networks Inc stock has also gained 2.10% of its value over the past 7 days. However, PANW stock has declined by -3.58% in the 3 months of the year. Over the past six months meanwhile, it has gained 13.15% and lost -5.34% year-on date.
The market cap for PANW stock reached $90.19 billion, with 323.10 million shares outstanding and 318.94 million shares in the current float. Compared to the average trading volume of 6.09M shares, PANW reached a trading volume of 5588108 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 $334.97 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 1.70. 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.
Rosenblatt have made an estimate for Palo Alto Networks Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 21, 2024. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $350 to $300. The new note on the price target was released on February 21, 2024, representing the official price target for Palo Alto Networks Inc stock. Previously, the target price had yet another raise to $275, while Northland Capital analysts kept a Market Perform rating on PANW stock.
The Average True Range (ATR) for Palo Alto Networks Inc is set at 8.77, with the Price to Sales ratio for PANW stock in the period of the last 12 months amounting to 11.98. The Price to Book ratio for the last quarter was 20.67, with the Price to Cash per share for the same quarter was set at 10.45. Price to Free Cash Flow for PANW in the course of the last twelve months was 30.87 with Quick ratio for the last quarter at 0.79.
PANW stock trade performance evaluation
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 2.10. With this latest performance, PANW shares dropped by -0.38% in over the last four-week period, additionally plugging by 13.15% over the last 6 months – not to mention a rise of 45.43% 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 45.16, with the RSI for the last a single of trading hit 49.71, and the three-weeks RSI is set at 44.25 for Palo Alto Networks Inc [PANW]. The present Moving Average for the last 50 days of trading for this stock 308.09, while it was recorded at 270.29 for the last single week of trading, and 272.04 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 0.79 and a Current Ratio set at 0.79.
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 1.1/share EPS, while the average EPS was predicted by analysts to be reported at 0.93/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 18.30%. 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 17.83%.
Palo Alto Networks Inc [PANW]: Institutional Ownership
The top three institutional holders of PANW stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in PANW stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in PANW stock with ownership which is approximately 5.8386%.
