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Palo Alto Networks Inc. (PANW): Why Is The Stock Strong?

Palo Alto Networks Inc. (NASDAQ:PANW) has a beta value of 1.15 and has seen 5.16 million shares traded in the last trading session. The company, currently valued at $44.01B, closed the last trade at $151.14 per share which meant it gained $1.8 on the day or 1.21% during that session. The PANW stock price is -41.35% off its 52-week high price of $213.63 and 12.52% above the 52-week low of $132.22. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.45 million shares traded. The 3-month trading volume is 4.36 million shares.

The consensus among analysts is that Palo Alto Networks Inc. (PANW) is a Buy stock at the moment, with a recommendation rating of 1.80. 0 analysts rate the stock as a Sell, while 4 rate it as Overweight. 5 out of 44 have rated it as a Hold, with 35 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.69.

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Palo Alto Networks Inc. (NASDAQ:PANW) trade information

Sporting 1.21% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the PANW stock price touched $151.14 or saw a rise of 0.67%. Year-to-date, Palo Alto Networks Inc. shares have moved 8.31%, while the 5-day performance has seen it change 6.44%. Over the past 30 days, the shares of Palo Alto Networks Inc. (NASDAQ:PANW) have changed 2.52%. Short interest in the company has seen 20.51 million shares shorted with days to cover at 5.48.

Wall Street analysts have a consensus price target for the stock at $205.79, which means that the shares’ value could jump 26.56% from current levels. The projected low price target is $155.00 while the price target rests at a high of $250.00. In that case, then, we find that the current price level is -65.41% off the targeted high while a plunge would see the stock gain -2.55% from current levels.

Palo Alto Networks Inc. (PANW) estimates and forecasts

Figures show that Palo Alto Networks Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -10.26% over the past 6 months, with this year growth rate of 35.71%, compared to 4.60% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 25.50% and 20.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be 24.90%.

33 analysts offering their estimates for the company have set an average revenue estimate of $1.55 billion for the current quarter. 33 have an estimated revenue figure of $1.65 billion for the next quarter concluding in Jan 2023.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -3.90% over the past 5 years. Earnings growth for 2023 is a modest 47.60% while over the next 5 years, the company’s earnings are expected to increase by 27.07%.

PANW Dividends

Palo Alto Networks Inc. is expected to release its next earnings report between February 20 and February 24 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Palo Alto Networks Inc. (NASDAQ:PANW)’s Major holders

Insiders own 1.63% of the company shares, while shares held by institutions stand at 89.95% with a share float percentage of 91.44%. Investors are also buoyed by the number of investors in a company, with Palo Alto Networks Inc. having a total of 1,786 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 23.04 million shares worth more than $3.79 billion. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 23.65% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 16.37 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $2.69 billion and represent 16.80% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Invesco ETF Tr-Invesco QQQ Tr, Series 1 ETF. As of Jun 29, 2022, the former fund manager holds about 9.03% shares in the company for having 8.8 million shares of worth $1.45 billion while later fund manager owns 4.39 million shares of worth $718.89 million as of Sep 29, 2022, which makes it owner of about 4.51% of company’s outstanding stock.

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