On February 14, 2023, Goldman Sachs initiated coverage of Palo Alto Networks with a Buy recommendation.

Analyst Price Forecast Suggests 23.43% Upside

As of February 15, 2023, the average one-year price target for Palo Alto Networks is $210.01. The forecasts range from a low of $156.55 to a high of $262.50. The average price target represents an increase of 23.43% from its latest reported closing price of $170.14.

The projected annual revenue for Palo Alto Networks is $7,026MM, an increase of 20.77%. The projected annual EPS is $3.49.

What are large shareholders doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,916K shares representing 2.95% ownership of the company. In it’s prior filing, the firm reported owning 2,934K shares, representing an increase of 67.10%. The firm increased its portfolio allocation in PANW by 5.06% over the last quarter.

Bank Of America holds 8,596K shares representing 2.84% ownership of the company. In it’s prior filing, the firm reported owning 6,829K shares, representing an increase of 20.55%. The firm decreased its portfolio allocation in PANW by 99.90% over the last quarter.

Nuveen Asset Management holds 5,478K shares representing 1.81% ownership of the company. In it’s prior filing, the firm reported owning 4,542K shares, representing an increase of 17.07%. The firm decreased its portfolio allocation in PANW by 35.48% over the last quarter.

Norges Bank holds 5,384K shares representing 1.78% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Goldman Sachs Group holds 5,187K shares representing 1.72% ownership of the company. In it’s prior filing, the firm reported owning 5,781K shares, representing a decrease of 11.45%. The firm decreased its portfolio allocation in PANW by 25.99% over the last quarter.

What is the Fund Sentiment?

There are 2147 funds or institutions reporting positions in Palo Alto Networks. This is a decrease of 7 owner(s) or 0.32% in the last quarter. Average portfolio weight of all funds dedicated to PANW is 0.58%, a decrease of 6.40%. Total shares owned by institutions increased in the last three months by 55.79% to 290,770K shares. The put/call ratio of PANW is 2.36, indicating a bearish outlook.

Palo Alto Networks Background Information
(This description is provided by the company.)

Palo Alto Networks, the global cybersecurity leader, is shaping the cloud-centric future with technology that is transforming the way people and organizations operate. Its mission is to be the cybersecurity partner of choice, protecting the digital way of life. The Company helps address the world’s greatest security challenges with continuous innovation that seizes the latest breakthroughs in artificial intelligence, analytics, automation, and orchestration. By delivering an integrated platform and empowering a growing ecosystem of partners, the Company is at the forefront of protecting tens of thousands of organizations across clouds, networks, and mobile devices. The vision of the Company is a world where each day is safer and more secure than the one before.

This article originally appeared on Fintel

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