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Palo Alto Networks Inc.: Why Investors Shouldn’t Get Rid Of PANW Stock In 2023

In the last trading session, 9.34 million shares of the Palo Alto Networks Inc. (NASDAQ:PANW) were traded, and its beta was 1.16. Most recently the company’s share price was $189.74, and it changed around -$2.37 or -1.23% from the last close, which brings the market valuation of the company to $57.74B. PANW currently trades at a discount to its 52-week high of $203.44, offering almost -7.22% off that amount. The share price’s 52-week low was $132.22, which indicates that the current value has risen by an impressive 30.32% since then. We note from Palo Alto Networks Inc.’s average daily trading volume that its 10-day average is 4.85 million shares, with the 3-month average coming to 3.66 million.

Palo Alto Networks Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.80. If we narrow it down even further, the data shows that 0 out of 44 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 6 recommended PANW as a Hold, whereas 34 deemed it a Buy, and 0 rated it as Underweight. Palo Alto Networks Inc. is expected to report earnings per share of $0.93 for the current quarter.

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

Instantly PANW has showed a red trend with a performance of -1.23% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 193.20 on Tuesday, 05/23/23 increased the stock’s daily price by 1.79%. The company’s shares are currently up 35.98% year-to-date, but still down -0.88% over the last five days. On the other hand, Palo Alto Networks Inc. (NASDAQ:PANW) is -1.15% down in the 30-day period. We can see from the shorts that 18.85 million shares have been sold at a short interest cover period of 7.21 day(s).

The consensus price target as assigned by Wall Street analysts is $225.18, which translates to bulls needing to increase their stock price by 15.74% from its current value. Analyst projections state that PANW is forecast to be at a low of $180.00 and a high of $255.00. In order for the stock price to hit the forecast high, the stock would need to plunge -34.39% from its current level, while the stock would need to crash 5.13% from its current level to reach the projected low.

Palo Alto Networks Inc. (PANW) estimates and forecasts

Palo Alto Networks Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 13.29 percent over the past six months and at a 59.13% annual growth rate that is well above the industry average of 16.20%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 55.00% in revenue this quarter, and will report an increase of 50.00% in the next quarter. The year-over-year growth rate is expected to be 25.20%, up from the previous year.

Consensus estimates provided by 36 financial analysts predict the company will bring in an average of $1.71 billion in revenue for the current quarter. 36 analysts expect Palo Alto Networks Inc. to make $1.95 billion in revenue for the quarter ending Jul 2023. The company’s sales for the same quarters a year ago were $1.39 billion and $1.55 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 23.60%. Forecasts for the next quarter put sales growth at 25.80%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -3.90%. Palo Alto Networks Inc. earnings are expected to increase by 47.60% in 2023, but the outlook is positive 31.67% per year for the next five years.

PANW Dividends

Palo Alto Networks Inc.’s next quarterly earnings report is expected to be released around August 21 and August 25.

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

Upon looking at major shareholders, it appears that insiders hold 1.39% of Palo Alto Networks Inc. shares, and 87.81% of them are in the hands of institutional investors. The stock currently has a share float of 89.05%. Palo Alto Networks Inc. stock is held by 1,924 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 20.66% of the shares, which is about 20.12 million shares worth $4.02 billion.

Blackrock Inc., with 17.67% or 17.21 million shares worth $3.44 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 9.19 million shares worth $1.28 billion, making up 9.44% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 4.1 million shares worth around $571.91 million, which represents about 4.21% of the total shares outstanding.

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